The Latest Breaking News from the Reserve Bank

Smaller lenders like SBS Bank say they’re wooing customers away from the Australian-owned banks, offering mortgage rates as low as 3.99 percent while the big banks drag their feet. The Reserve Bank began cutting the official cash rate 15 months ago, but analysts say the big high street banks haven’t…

If the Reserve Bank is right, then by the end of 2027 the average wage will only have the same purchasing power as it did at the end of 2011

Borrowers face the possibility of interest rates going up rather than down again after the Reserve Bank held steady following a spike in inflation.

The Reserve Bank is widely expected to keep rates on hold after a spike in inflation, with the bank's updated economic forecasts set to be closely scrutinised.

The coalition has sought to link a recent rise in inflation and unemployment to the 1970s economic malaise, but analysts say there is no need to panic.

The story this quarter was one of big jumps in electricity prices due to the end of the state subsidies

Inflation jumped 1.3% in the September quarter, above economists’ and the Reserve Bank’s own expectations. That is likely to rule out a cut in interest rates next week.

All four major banks predict mortgage holders will have to wait until 2026 for rate relief after a larger-than expected inflation rise.

Last week’s announcement that unemployment reached 4.5% in September came as a shock to the RBA, which must have been either embarrassed – or ecstatic