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The Latest Breaking News from RBA

Meet Andrew Hauser, the outsider from the UK who'll be deputy governor of the RBA

In a significant step towards reforming Australia’s Reserve Bank, Treasurer Jim Chalmers has stepped outside the bank and outside of Australia to select Andrew Hauser, a British economist, as its new deputy governor.

The Conversation

Jim Chalmers appoints outsider and former Bank of England executive director as deputy RBA governor

Rare appointment of outsider Andrew Hauser to senior position comes after review found bank should encourage ‘diverse viewpoints’

The Guardian - AU

Borrowers may wish the government could overrule the RBA but Australia is not Argentina or Turkey

Central banks must be credible to be effective and that means separating rates decision-making from short-term government priorities

The Guardian - AU

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Crossbench MPs question family violence response – as it happened

This blog is now closed.

The Guardian - AU

Australian shares sink after hawkish talk from RBA boss

The local share market closed down 0.6 per cent to hit its lowest level in a week following a speech by RBA governor Michelle Bullock.

AAP

Housing prices back at record levels, defying Australia’s interest rate rises

The 7.5% drop from the April 2022 peak has been recovered, but some cities are faring better than others, CoreLogic analysts say

The Guardian - AU

The past financial year was brutal for household incomes – and it seems the recovery isn’t coming anytime soon

Household disposable income fell 5.1% across the country, meaning our living standards have been smashed

The Guardian - AU

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RBA governor says inflation ‘increasingly homegrown’, suggesting interest rates will remain high

Michele Bullock warns prices are ‘rising strongly for the majority of the goods and services we all consume’

The Guardian - AU

RBA cash rate meetings to stretch over two days

More changes to the way the Reserve Bank sets interest rates and communicates with the public have been unveiled in a speech by the central bank chief.

AAP

Why further RBA interest rate hikes are less likely now than even 1 week ago

Since Australia’s Reserve Bank hiked interest rates two weeks ago, there have been two important developments – one in the United States and the other in the United Kingdom.

The Conversation

Afternoon Update: Hamas says truce is close; man charged with raping 90-year-old woman; and essential workers in rental stress

Qatar is leading negotiations between Hamas and Israel, while the war in the Gaza strip continues

The Guardian - AU

Australian shares higher despite hawkish RBA minutes

The local share market finished 0.3 per cent higher, even as the Reserve Bank minutes opened the door for a potential December rate hike.

AAP

November interest rate rise was needed to avoid risk of larger future increases, RBA says

Minutes of the November meeting show the RBA board believed the risk of inflation continuing above target was too high to keep rates on hold

The Guardian - AU

RBA homes in on domestic demand in inflation fight

The Reserve Bank fired off an interest rate hike last month to take out insurance against lingering inflation risks, minutes from a board meeting confirm.

AAP

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AAP

All eyes on RBA messaging for hints on rates outlook

Public appearances from senior Reserve Bank officials should shed some light on the future outlook for interest rates as the tightening cycle nears its end.

AAP

Aussie shares slump on strong domestic job report

The local share market started higher but finished 0.7 per cent lower after a strong labour market report raised fears of more rate hikes next year.

The Guardian - AU

Australian economy adds twice as many jobs as expected as unemployment rate rises to 3.7%

Employers added a net 54,900 jobs in October as economy’s resilience contributed to tight labour market

The Guardian - AU

Workers of Australia, let us celebrate the strongest wages growth in over a decade

If we are ever to recover our lost purchasing power, we need plenty more wages rises above inflation

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AAP

Spending wanes as consumers wait for next big event

Major events have been keeping spending elevated, with consumption in retreat throughout a quieter month.

Newcastle Herald

Compensation? Optus outage no match for East End strain during Supercars

'Compare nine weeks to one day of last income.'

The Guardian - AU

‘No buffers left’: borrowers turn to foodbanks as rate hike cranks up mortgage stress

Charities see a spike in calls with each rate rise, while loan arrears now outstrip energy bills as biggest issue say debt counsellors

Investors Business Daily

Top Funds Can't Get Enough Of Amazon — And This Intelligence Play

As a Santa Claus rally begins, the AI boom continues to fuel gains for Palantir and Amazon as top funds place their bets.

The Guardian - AU

Australians won’t experience real income growth until end of 2024, RBA forecasts

Domestic economy ‘more resilient than previously expected’, Reserve Bank says in quarterly statement

The Guardian - AU

Australian property market may soon cool as rate hikes shrink borrowing capacity

Surge in population and faltering supply of new housing had held up Australia’s property market, but rising interest rates expected to cool prices

The Guardian - AU

The RBA has only one tool to fight inflation with – and households are being hammered

No homeowner under the age of 55 has had to cope with interest rates rising like this

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