RBA
Chalmers plays down fuss over union push for RBA board
24 August
Treasurer Jim Chalmers doesnāt believe itās āespecially controversialā for unions to be considered for the board of the Reserve Bank. The powerful CFMEU moved a successful motion at Laborās national conference last week amending the party...[Read More]
Reserve Bank minutes outline reasons for rate hold
16 August
RESERVE BANK BOARD MINUTES * Members agreed that the argument to leave the cash rate unchanged at this meeting was āthe stronger oneā. * They noted recent information on inflation had been encouraging, and the economy was expected to grow only...[Read More]
Consumer sentiment softens as businesses seek lifeline
16 August
Consumers are tightening their belts as living costs and interest rates rise, putting pressure on small businesses. A Commonwealth Bank of Australia report launched on Monday showed consumer spending growth declining nationally to 1.3 per cent in...[Read More]
Lingering price pressures plaguing businesses
9 August
The cost of running a business has jumped, as have the prices firms are charging, suggesting the inflation challenge still has some fight left in it. A survey of businesses conducted by the National Australian Bank recorded a sharp uptick in both...[Read More]
Behind the RBA boardās interest rate decision
2 August
RESERVE BANK KEEPS RATES ON HOLD The Reserve Bank of Australia board has decided to keep the cash rate on hold at 4.1 per cent at its August monthly meeting. WHY? * Four percentage points of rate rises since mid-2022 are working to balance supply...[Read More]
First female RBA governor to bring āreform agendaā
20 July
The first woman to fill the role of Reserve Bank governor is expected to bring a reform agenda to the institution and outline a fresh set of goals. Michele Bullock starts as head of the central bank in September, replacing Philip Lowe. Ms...[Read More]
RBA governor stresses slow productivity at G20 talks
19 July
The federal treasurer and head of the central bank have singled out sluggish productivity growth as a major problem at key G20 talks. Speaking at a meeting with other finance ministers and central bank leaders, Reserve Bank of Australia governor...[Read More]
Consumers are not buying RBAās interest rate pause
13 July
Consumers are not convinced the Reserve Bank has finished hiking interest rates, despite leaving the cash rate unchanged last month. The mood as captured by Westpac and the Melbourne Institute every month soured further after the July rate pause,...[Read More]
Reserve Bank governor pledges āsignificantā overhaul
12 July
Fewer meetings, post-decision press conferences and more board member interaction with staff have been given a tick by the governor of the Reserve Bank. Philip Lowe has signed off on a range of recommendations from an independent review released in...[Read More]
Reserve Bank declines to try its luck on 13th rate rise
6 July
WHAT WAS SAID ABOUT THE RATES DECISION: āA pause in the rate rises provides some small relief to workers out there doing it tough. We are still very mindful, however, that workers have fallen way behind.ā ā ACTU secretary Sally McManus āThe...[Read More]
Interest rates paused as Reserve Bank mulls economy
5 July
RBA DECISION-MAKING BEHIND THE LATEST RATE PAUSE The Reserve Bank of Australia board has decided to keep the cash rate steady at 4.1 per cent for July. * Hiking interest rates by four percentage points since May 2022 is working to āestablish a...[Read More]
Inflation figures boost hopes of hold on interest rates
28 June
Slower consumer price growth could be enough to stave off another interest rate hike next week but it is still too early to run a victory lap around inflation. The Australian Bureau of Statisticsā consumer price index sunk back to 5.6 per cent in...[Read More]
Inflation surprise as rate of price growth slows in May
28 June
A sharp fall in consumer prices will take pressure off the Reserve Bank, but persistent growth in rents and services will keep further rate hikes in play. The consumer price index sunk back to 5.6 per cent in the year to May, from 6.8 per cent in...[Read More]
Tight jobs market adds to interest rate uncertainty
21 June
The next interest rate decision is shaping up to be another close call as the outlook for inflation remains shrouded in mystery. The minutes from the Reserve Bankās June meeting, which resulted in another 25 basis point increase to bring the cash...[Read More]
Consumer confidence plunges to another three-year low
14 June
Consumer confidence has sunk to another post-pandemic low following the 12th interest rate rise in 13 months. Morale has been low for several months in response to cost of living pressures and interest rate hikes and has now fallen to its lowest...[Read More]