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The Latest Breaking News from Michele Bullock

Officials bank on economic slump helping tame inflation

Australia is not experiencing stagflation but higher interest rates will help cool the economy and inflation, the nation's top bank official says.

AAP

GDP data tops the economic agenda, RBA officials speak

Reserve Bank governor Michele Bullock will get a chance to react to Wednesday's economic growth figures when she fronts a parliamentary hearing in Canberra.

AAP

Interest rates look set to hold, after inflation and fuel costs fell in April. But it’s unlikely to last

Inflation actually fell in Australia last month, thanks to temporary government fuel discounts that saw fuel prices come down by 7% from their record peaks in March.

The Conversation

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Australian workers have been hard done by and tax reforms in the budget only begin to return some fairness

The CGT discount not only increased the benefit to non-wage earners, it did so in a way that incentivised investing in rental properties rather than shares

The Guardian - AU

In this year’s budget, Chalmers has to keep a lid on spending – or risk stoking inflation

Crafting a federal budget is never easy. Tonight’s budget is harder than most.

The Conversation

'Spendthrift' sandgropers trigger GST allowance critics

The scale of cash handouts in the Western Australian budget has infuriated some economists, who argue they are provocatively inflationary.

AAP

Grattan on Friday: The Farrer result will set off a willy willy. The budget already has

The run-up to a budget always sees a degree of chaos. But this year it has looked like one of those willy willies that blow up in outback Australia when the wind stirs a storm of dust.

The Conversation

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Oil crisis not over: warnings of diesel over $4 a litre

With the Strait of Hormuz still shut and stockpiles running down, economists warn fuel prices could spike above levels previously seen during this oil crisis.

AAP

RBA governor’s frank message on the economy is the biggest shock

Michele Bullock drops her usual caution to spell out the threat of higher prices and lower growth

The Guardian - AU

Australians are poorer because of war on the other side of the world – Michele Bullock’s logic is hard to fault

In sobering comments, the RBA governor forecasts economic malaise due to the global fuel shock. Not recession but higher prices, lower growth and wages that don’t keep pace with inflation

The Guardian - AU

With no easy options, RBA raises interest rates for the third time to quell inflation

The Reserve Bank of Australia (RBA) has lifted the official cash rate by another 25 basis points, the third hike this year as it struggles to keep inflation under control.

The Conversation

Third RBA rate hike might not be the end for borrowers

Mortgage holders are back to square one after a third straight Reserve Bank rate hike, adding hundreds of dollars more to interest repayments since February.

AAP

Impact on inflation from fuel price hike to be revealed

The first inflation figures since the Iran war started, causing petrol prices to skyrocket, will give clues on its cost - with home-buyers watching closely.

AAP

The RBA’s policy deliberately creates unemployment. So why do we treat the jobless so badly?

The Reserve Bank of Australia (RBA) will look at the latest unemployment figures – 4.3%, roughly 650,000 people out of work – and see a labour market that is still “too tight”.

The Conversation

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AAP

RBA to air board's disagreement in meeting minutes

Central bank watchers will get to peak into the Reserve Bank board room as minutes of a meeting that split 5-4 in favour of an interest rate hike are released.

AAP

Global group backs cuts, rate rises to curb inflation

Australia's inflation rate will peak higher than previously forecast, as surging oil costs cause consumer prices to increase, a Paris-based policy body says.

AAP

RBA ready to shift up a gear as the neutral rate rises

The Iran war will hurt consumers by pushing up prices and slowing the economy but the Reserve Bank must act to contain inflation expectations, an official says.

AAP

Confidence tanks as fuel spike flows to building costs

Housing Minister Clare O'Neil has brought together leaders from the construction industry as they grapple with skyrocketing materials costs.

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AAP

Spike in jobless rate unlikely to end RBA hiking cycle

A rise in unemployment and a surge in hiring point to conflicting impulses in Australia's labour market, but conditions remain relatively tight.

The Conversation

Yes, what you think about inflation can influence what the RBA does next

After two back-to-back interest rate hikes by the Reserve Bank of Australia (RBA) in February and March, all eyes are on the next policy meeting set for May.

The Guardian - AU

The RBA is asking Australians to show restraint. They may want to take their own advice

We are all living in uncertain times, so we expect decisions to be made with a high degree of caution. That applies to the central bank and interest rates

AAP

Treasurer warns of major economic damage from Iran war

Fresh modelling shows oil price shocks and soaring prices for other commodities will have a lasting impact on Australia's economy.

The Guardian - AU

Australian households fear double whammy of rate hikes and higher petrol prices will lead to recession

Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warn

The Guardian - AU

The RBA has made one of its most controversial calls in recent years - and this rate rise may not age well

Michele Bullock says high inflation hurts everyone, but there still seems to be an extraordinary level of complacency about potential fallout from the US-Israel war on Iran

The Conversation

Despite denials, there are signs the RBA does consider house prices in setting rates

As households are squeezed by the cost-of-living crisis, central bank governors such as Jerome Powell in the United States and Michele Bullock in Australia are coming under repeated fire from politicians, pundits and households.

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