The Latest Breaking News from the Reserve Bank

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

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.

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.

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.

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.

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.

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

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.

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

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

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