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The Latest Breaking News from the Reserve Bank

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

Pointing to big changes that have greatly affected Australia's capacity to deliver rising standards of living, top economist Ross Garnaut calls for a major policy overhaul.

ABC News

New Zealand interest rates are still rising — now mortgage stress data reveals how households are coping

New data reveals how New Zealand households that have been under interest rate pressure for more than 18 months are managing to make ends meet.

ABC News

The cost of living has reached a record high, businesses are struggling, and interest rates are rising. Is a recession coming?

A day after the Reserve Bank controversially raised interest rates, new data shows living costs are at an all-time high and businesses are contracting, prompting concerns a recession may be on the horizon.

ABC News

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‘Smashing families’: Premiers take aim at RBA rate rises

Three premiers have taken aim at the RBA over rapidly rising interest rates, following Tuesday's decision to impose another hike.

The New Daily

Afternoon Update: RBA’s rate hike surprise; higher tobacco taxes; and Serena Williams’ Met Gala reveal

Central bank raises cash rate by 25 basis points to 3.85% in defiance of most economists’ predictions

The Guardian - AU

‘Whiplash’: Mortgage bills to rise again as Reserve Bank signals inflation battle isn’t over yet

The Reserve Bank has resumed heaping pain onto Australian home owners, raising interest rates in May for the eleventh time in a year.

The New Daily

‘Line ball’: Experts split as RBA mulls pivotal interest rates call amid rising mortgage stress

Experts are split on whether the Reserve Bank will return to hiking interest rates at its May meeting this week.

The New Daily

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Greens to introduce legislation to block Reserve Bank rate rises

n a move that runs counter to history and convention, the Greens will seek changes that would see interest rates capped and rents frozen.

The New Daily

Paul Keating warns treasurer not to remove government's power to override RBA decisions

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.

ABC News

Inflation is coming back down, but Australia’s renters are still feeling the pain

High prices are hurting renters and low-income households

The Guardian - AU

Inflation has fallen, but one or two more interest-rate rises are still likely

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…

The Conversation

Inflation eases to 7 per cent – but still too high for RBA

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.

The New Daily

Quarterly inflation is expected to ease, but the Reserve Bank may still lift interest rates

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.

ABC News

Ensuring financial inclusion, when NZ can't bank on the big banks

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.

Newsroom.co.nz

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AAP

RBA rate calls still face potential parliament veto

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.

ABC News

The criticisms behind the Reserve Bank review's recommendations for a new board, updated mandate

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.

AAP

Inflation data to set the scene for next cash rate call

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.

AAP

Reserve Bank to keep close eye on jobs and inflation

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

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The Guardian - AU

A singular focus on interest rates, fresher board, fewer meetings – but what else could change at the RBA?

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

The Guardian - AU

Afternoon Update: Lowe responds to RBA shake-up; rare solar eclipse in images; and K-pop star dies at 25

RBA governor welcomes review of central bank as treasurer announces all 51 recommendations will be implemented

The New Daily

Lowe says he would stay at RBA helm as reforms unfold

The governor of the Reserve Bank agrees the institution needs to evolve and is willing to lead the reform of the central bank if his tenure is extended.

The New Daily

Watch: RBA overhaul, Mystery Bali death, Total solar eclipse

Watch: The Treasurer has announced the biggest overhaul of the Reserve Bank in a generation, after a review recommended sweeping changes to how the

The New Daily

RBA overhaul to put board members in spotlight

A major overhaul of the Reserve Bank will see a new board for setting interest rates that's more accountable and holds fewer meetings.

ABC News

Reserve Bank set for biggest overhaul in decades after review calls for more external leaders

The Reserve Bank is set for its biggest overhaul in decades, with a review into the central bank finding it needs major changes to ensure it is "fit for the future".

The Guardian - AU

ACTU will not push for spot on RBA board as review released – as it happened

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