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The Latest Breaking News from the Reserve Bank

View from The Hill: The Greens’ demands on the RBA make for bad economic policy. Is it also crazy politics?

When the Greens tell Labor they’re ready to negotiate, what they usually mean is they’re preparing to make populist demands that can’t or shouldn’t be met.

The Conversation

AFL stars walk Brownlow medal red carpet – as it happened

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The Guardian - AU

War of words over inflation as national debt dives

Australia lags behind western nations in tackling inflation, the shadow treasurer says, as the Reserve Bank mulls whether to lower interest rates.

AAP

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Reserve Bank to hold the line despite US Fed cut

The Reserve Bank is unlikely to give interest rate relief to borrowers at the September meeting as Australia's inflation rate still has fight left in it.

AAP

Impact of US rate cut in Australia remains to be seen

Senior minister Bill Shorten says it's unclear how much of an impact the US Federal Reserve's interest rates cut will have on Australia's economy.

AAP

Resilience of jobs market put to test

Fresh labour force data will be watched closely following the Reserve Bank's assessment it was still operating above 'full employment'.

AAP

Why is Labor trying to reform the RBA and why is Peter Dutton opposing the changes?

The Coalition has indicated it won’t support the reforms, which it says could let Labor allies take control of interest rates

The Guardian - AU

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New fear unlocked: unemployment worries grip consumers

Consumers are becoming more concerned about the sluggish economy and what this could mean for jobs, with cost-of-living becoming a lower order worry.

AAP

Labor opens door to negotiating with Greens on RBA reforms after Coalition blocks proposal

Peter Dutton’s opposition also puts up new roadblocks to potential deal on government’s aged care reforms

The Guardian - AU

Coalition torpedoes bipartisan deal on Reserve Bank monetary policy board

The federal opposition has torpedoed Treasurer Jim Chalmers’ attempt to get a bipartisan deal to install a specialist monetary policy board in the Reserve Bank, claiming the reform would enable the treasurer to “stack” the new board.

The Conversation

Half of new 2024 jobs were public sector: ABS

Federal Parliament resumes today with the government under pressure on the state of the economy, and Julia Gillard celebrates the 30th anniversary of Labor’s gender quotas.

Crikey

Treasurer distances himself from his former boss’ Reserve Bank attack

Treasurer Jim Chalmers has distanced himself from the strident attack his one-time boss Wayne Swan launched on the Reserve Bank, which the former treasurer accused of “putting economic dogma over rational decision-making”.

The Conversation

Now the Australian economy is on its knees, will the RBA finally start cutting interest rates?

So far we have not gone into recession – but only because our population has grown and the government has kept spending

The Guardian - AU

This is the weakest economy outside of a recession. Here’s what the GDP figures show

The latest national accounts show the Australian economy is struggling. It’s what you would expect after the sharpest series of interest rate rises on record, and is more or less what the Reserve Bank was trying to achieve to bring down inflation.

The Conversation

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The Conversation

Surcharges are added to most purchases, but what are the rules behind these extra fees?

You head to the register at the cafe to pay for your lunch, swipe your card and suddenly realise you’ve been hit with an extra small but unexpected charge.

Crikey

The weak economy is at a painful turning point, one that might finally prove to be unspinnable

The government’s economic critics want it both ways — complaining it’s not doing enough to lower inflation while also not doing enough to support growth.

AAP

Gloomy growth, interest rates sore points for Treasurer

The economy is stuck in the slow lane and Treasurer Jim Chalmers says that's by design, with higher interest rates necessary to tame inflation.

The Conversation

View from The Hill: Australians don’t need to be told high interest rates are ‘smashing’ the economy, but is there an alternative?

Treasurer Jim Chalmers mightn’t have expected his weekend comment – made ahead of expected low growth figures later this week – that interest rate rises were “smashing” the Australian economy to set off the reaction it has. After all, it’s been something of a Chalmers mantra.

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The Conversation

Politics with Michelle Grattan: Reserve Bank’s Andrew Hauser says don’t read too much for Australia from US rates message

Inflation remains top of mind as the Reserve Bank of Australia continues to keep interest rates on hold at a time when the United States Federal Reserve signals that it will start cutting rates.

The Conversation

The RBA is making confusion about inflation and the cost of living even worse

There’s a paradox about the way we respond to threats to the cost of living.

AAP

Inflation steps down but ladder still steep for RBA

A mixed set of inflation numbers are unlikely to move the needle for the Reserve Bank as it weighs interest rates and persistent price pressures.

The Guardian - AU

Australians should be angry about Coles’ latest billion-dollar profit. But don’t blame the cost of living

Politicians will declare war on ‘cost of living’ and pundits will argue about inflation. The real point is the profits come at workers’ expenses

AAP

Door opens for long-delayed Reserve Bank reforms

The federal treasurer has shifted on key opposition demands in order to secure support for changes to modernise and strengthen the Reserve Bank.

The Guardian - AU

The horror, the horror: banks are having to compete for our business by offering better rates

Don’t buy the banks’ sob story. They are annoyed Australians are becoming more savvy at shopping around for better deals for their home loans

AAP

Rate-cut hopes hit brick wall as RBA cements stance

Borrowers are being warned to not bank on any short-term relief on their mortgages as the RBA talks down hopes of an interest rate cut in 2024.

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