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The Latest Breaking News from the Reserve Bank

Inflation jumps in October, adding to pressure on government to make budget savings

Annual inflation rose to a 16-month high of 3.8% in October, adding to pressure on the government as it seeks to make savings across the public sector.

The Conversation

Early Christmas for RBA with landmark inflation print

Inflation data will dominate the domestic economic dashboard, while the UK budget and New Zealand rate cuts are on the agenda abroad.

AAP

Real wages have grown – just – over the past year. But they’re still down near 2011 levels

New data show wages have risen by a bit more than inflation, but overall real wages are still languishing near 2011 levels.

The Conversation

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Years in the making, the first complete monthly inflation report is almost here

A new “complete” monthly consumer price index (CPI) will be released next week, and will become Australia’s primary measure of inflation.

The Conversation

RBA reveals what would rule out more interest rate cuts

Barring a material rise in unemployment or weaker-than-expected economic growth, mortgage holders can just about give up hope for any more interest rate relief.

AAP

Australian economy 'island of security' in risky seas

A shock fall in unemployment has wrong-footed analysts and dashed hopes of further interest rate cuts as the treasurer talks up Australia's economic strength.

AAP

RBA bigwig reveals how economy can escape slow lane

The Australian economy's spare capacity will be key to deciding how many times the Reserve Bank can cut interest rates, a senior official says.

AAP

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The Coalition says ‘Jimflation’ is wrecking the nation – but would we have accepted the alternative?

Public spending can drive inflation, but from healthcare to education, Australians expect more and better public services – and Labor provided

The Guardian - AU

Interest rate cuts might have less impact than thought

Mortgage holders were smashed by the fastest interest rate hiking cycle in decades post-pandemic, but a study has found it did little to dampen spending.

AAP

Small banks pass on mortgage rates while big banks ‘pad profits’

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…

Newsroom.co.nz

The RBA predicts inflation will rise faster than wages. Let’s hope it’s wrong

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

The Guardian - AU

The worrying trend that could put an end to rate cuts

The rising cost of new homes and services such as takeaway meals were key to the Reserve Bank's inflation miss in September and could rule out future rate cuts.

AAP

Afternoon Update: RBA keeps cash rate on hold; female jockey’s Melbourne Cup win; and the forgotten republic of Transnistria

Reserve Bank governor Michele Bullock says unexpected jumps in employment and inflation made the board ‘a little bit cautious’

The Guardian - AU

Jump in forecast inflation clouds interest rate hopes

More rate cuts are looking increasingly unlikely as the Reserve Bank concedes it underestimated inflationary pressures that persist in the economy.

AAP

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AAP

Shares drop to six-week low as RBA leaves rates on hold

The local bourse fell 0.9 per cent to close at its lowest level since September 26 after the Reserve Bank suggested it might not adjust rates for some time.

AAP

Sticky inflation cruels chances of interest rate relief

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

AAP

RBA to reveal interest rate call, economic forecasts

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.

AAP

Treasurer hits back as opposition slaps panic button

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.

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The Guardian - AU

So it’s goodbye to lower interest rates – to be honest, the RBA was always looking for an excuse not to cut

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

The Conversation

Higher than expected inflation report dashes hopes for further RBA rate cuts

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.

AAP

Pre-Christmas rate relief dashed after inflation spike

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

The Guardian - AU

Australia’s surprise unemployment spike suggests an economy not overheating but in need of stimulus

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

AAP

Bank heads to open up before 'urgent' rate cut talks

Surprising unemployment data has many expecting interest rates are in for another trim, with two key figures in that decision set to give their reaction.

AAP

Jobs figures 'settling back' into pre-COVID levels

A shock increase in unemployment rates has been put down to the jobs market coming back to regular rates after pandemic-induced fluctuations.

The Conversation

What a surprise spike in the unemployment rate means for interest rates and the economy

The rate of unemployment in Australia is on the rise again. Official labour force data released on Thursday shows that in the month to September, Australia’s seasonally adjusted unemployment rate jumped from 4.3% to 4.5%.

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