RBA

Inflation-beating pay rises can’t be widespread: RBA

7 June

The wages of the lowest-paid workers should be protected from the rising cost of living but not everyone should expect a pay rise that eclipses inflation, the central bank head says. Reserve Bank of Australia Governor Philip Lowe has clarified his...[Read More]

Cash rate rises to highest point in more than 11 years

7 June

RESERVE BANK LIFTS RATES The Reserve Bank board has decided at its June meeting to raise the cash rate by 25 basis points to 4.1 per cent, the highest point since April 2012. * The RBA says wages growth has picked up in response to the tight labour...[Read More]

Inflation still hot as RBA comments on risks and rent

31 May

RBA governor Philip Lowe has outlined a number of risks to the central bank’s task of returning inflation to target as the monthly consumer price index comes in at a hotter-than-expected 6.8 per cent. Headline inflation lifted from 6.3 per cent in...[Read More]

Philip Lowe urges diversity on Reserve Bank board

31 May

Populating the new monetary policy board solely with economists would be a backward step, Reserve Bank governor Philip Lowe says. The governor favours a diverse board that includes business people and labour market experts. Dr Lowe’s comments...[Read More]

All signs point to lower economic growth than usual

24 May

Australia is staring down the barrel of lacklustre economic growth throughout this year and next. New figures point to below-trend growth that’s now tipped to drag into early 2024. The monthly level of the leading index as assembled by Westpac and...[Read More]

More interest rate rises still on the cards, RBA says

17 May

The Reserve Bank board is ready to lift interest rates again as the spiralling rental crisis, sluggish productivity growth and other concerning trends threaten to derail the central bank’s plan to rein in inflation. In the minutes from the May...[Read More]

Fed budget ‘slightly expansionary’: former RBA governor

17 May

Interest rate rises last year were a “no-brainer” but it’s become difficult to know when to stop, according to a former Reserve Bank governor. Central banks are in a “once-in-a-generation battle with inflation”, Glenn Stevens, RBA governor...[Read More]

Conditions still good for business but risks brewing

10 May

Economic storm clouds have the private sector nervous but conditions for doing business do not yet reflect this heightened concern. Business conditions are still robust, as measured in NAB’s monthly survey, but are gradually losing steam. The...[Read More]

Interest rate hike number 11 sparks recession worries

3 May

The decision to hike interest rates again after a month on pause has raised concerns the Reserve Bank could nudge the economy into a recession. The central bank raised the cash rate by 25 basis points to 3.85 per cent on Tuesday, with a tight labour...[Read More]

Cash rate call on a knife edge as inflation slows

27 April

Australia’s inflation has most likely topped out and is starting to moderate but it’s unclear if the fall will be enough to convince the Reserve Bank to keep interest rates on hold next week. Consumer prices lifted seven per cent annually in the...[Read More]

RBA rate calls still face potential parliament veto

26 April

The federal government will ultimately be able to intervene in Reserve Bank decisions despite independent reviewers calling for the scrapping of the treasurer’s power to override interest rate decisions. Gordon de Brouwer, one of three experts...[Read More]

Reserve Bank minutes suggest May rate hike on the table

19 April

The Reserve Bank board has plenty of reasons to hike interest rates further and members will be gunning for a convincing cool-off in inflation numbers to keep the cash rate on hold longer term. The minutes from the April interest rate decision...[Read More]

Treasurer calls for bipartisan support on RBA reform

19 April

The treasurer has called on the opposition to work with the government on laws to reform the Reserve Bank. Jim Chalmers has confirmed the reforms, based on an independent review of the central bank that’s yet to be publicly released, will have a...[Read More]

Relief on rates but don’t bank on an end to rises

5 April

Homebuyers are being warned to brace for more mortgage misery in the months to come despite being spared an 11th interest rate rise in row. The Reserve Bank on Tuesday left interest rates unchanged but has given itself wiggle room to hike again if...[Read More]

Key factors in the Reserve Bank’s rates pause decision