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The Latest Breaking News from the Reserve Bank

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

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

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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

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.

The Conversation

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.

AAP

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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.

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.

The Conversation

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.

AAP

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

The Guardian - AU

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.

AAP

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

The Guardian - AU

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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.

The Conversation

Politics with Michelle Grattan: Jim Chalmers flags deal on Reserve Bank’s new structure is close

Cost of living remains at the top of people’s minds as inflation stays sticky. With an election in less than a year, the government has been doing what it can to address some of the pressures. But the Reserve Bank doesn’t envisage an interest rate cut this year, and has…

The Guardian - AU

The RBA and its critics claim Australia’s economy needs to be slowed down. But the data shows both are wrong

Treasurer Jim Chalmers is right to argue the economy is already slow enough

AAP

Australian shares higher as gold hits record high

The ASX200 has finished higher, with losses for CSL and Seek and gains for Temple & Webster and goldminers.

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The Conversation

Grattan on Friday: Albanese government has a lot of housework ahead of voters’ property inspection

The Albanese government might be likened to the harried house-husband struggling with untidy rooms, dog hairs on the carpet, and piles of clothes in or waiting for the washing machine.

The Guardian - AU

Commonwealth Bank still predicts interest rate cut in 2024 as RBA defends keeping cash rate on hold

Reserve Bank’s chief economist says it is ‘difficult’ to hear the stories of those who ‘are struggling’

The Conversation

The RBA says don’t expect interest rate cuts for 6 months. Here’s why it could be sooner

Days ago, at the start of last week, there was talk of a Reserve Bank rate hike.

AAP

Rates likely on hold with Reserve Bank coy on next move

The August interest rate meeting will dominate the week's economic agenda, with the Reserve Bank tipped to leave rates unchanged.

The Conversation

Australia’s 3.8% inflation rate is concerning, but not enough to trigger a rate rise

After falling for five consecutive quarters to less than half of its 7.8% peak, inflation climbed slightly in the June quarter, from 3.6% to 3.8% for the year to June.

The Conversation

Why the RBA is highly unlikely to lift interest rates next week, even as inflation climbs

The inflation figure due to be released today is different than most. It’s focusing the minds of politicians as well as economists.

The Conversation

Almost 1 in 6 of the world’s banknotes feature wildlife – and they’re not always the creatures you’d expect

Banknotes and coins help shape our national identity. The images they display emphasise historical events, prominent personalities, or scientific, industrial and technological advances. Sometimes they highlight biodiversity, including distinctive plants and wildlife.

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