The Latest Breaking News from the Reserve Bank

Former prime minister Paul Keating says it would be an error for the Parliament to remove a power that allows the government to overrule the Reserve Bank's actions.

High prices are hurting renters and low-income households

Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back…

Official inflation data shows consumer prices rising seven per cent annually in the March quarter, down from 7.8 per cent in the previous quarter.

Even if inflation eases, a leading economist and strategist believes today's consumer price index figures will give the Reserve Bank of Australia reason to resume its rate-hiking cycle at its next meeting.

Softer rules for smaller institutions would be a bold call for MPs – and one they might regret, if the troubles that have hit SVB, Credit Suisse and others extend down to this corner of the globe, says Jonathan Milne.

The RBA's reviewers have called for greater independence for the central bank but say the government will still be able to step in if the board goes rogue.

The Reserve Bank review wants to remove economic prosperity as an objective of monetary policy, with some economists arguing house prices and household debt are outside its domain.

There will be a lot riding on the quarterly inflation figures as the Reserve Bank board tries to determine if it's done enough to rein in rising prices.

The Albanese government will enact the recommendations of a review of the Reserve Bank, to ensure it focuses on full employment and inflation.

The Reserve Bank overhaul won’t fix mistakes of the past, but that’s not the point, analysts say