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The Latest Breaking News from RBA

Decision to lift interest rates influenced by higher-than-forecast rent increases, RBA says

Minutes from recent meeting say surprise call was ‘finely balanced’ and aimed at diminishing the risks of high inflation becoming entrenched

The Guardian - AU

Treasurer wants energy transition to be his legacy – as it happened

This blog is now closed.

The Guardian - AU

‘Slightly less terrible’: Why the budget won’t worsen inflation

Opposition Leader Peter Dutton has accused the Albanese government of delivering an inflationary budget, but not all experts think so.

The New Daily

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Leading bank says budget won’t add to inflation

The federal government's latest budget is not expected to drive up inflation with the biggest bank saying the direction for rates is likely to be downward.

The New Daily

RBA research finds Australia has up to an 80 per cent recession risk to get inflation under control

Previously unpublished internal research from the Reserve Bank estimates that Australia's risk of recession over this year and next could be as high as 80 per cent.

ABC News

Has Jim Chalmers’ budget really poured fuel on the inflation fire? Don’t believe the hype

Headlines stoked fears of ‘stimulatory’ measures but you only need to look at the big banks and markets to see the reception was calm

The Guardian - AU

No, the budget does not make further interest rate rises more likely

Inflation, as Prime Minister Anthony Albanese has said, is “a tax on the poor”.

The Conversation

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Michael Pascoe: Still waiting for the real budget boot to drop

There’s some interesting stuff, some good things, some “spinning”, and there are certainly things to be disappointed about in the budget.

The New Daily

Instead of winning plaudits, why did Jim Chalmers’ budget surplus leave pundits nonplussed?

There’s a glorious irony that a surplus, after so many deficits, attracted such little attention

The Guardian - AU

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

The New Daily

Economists say federal budget unlikely to have much effect on interest rates

While the 2023 budget is unlikely to budge the RBA, experts are watching for inflationary pressure from a population boom and energy prices

The Guardian - AU

Australian government rejects concerns budget may worsen inflation

Australia's Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further.

Reuters

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

ABC News

Inflation rate to halve, bringing wage growth by 2024, federal budget predicts – with hope of mortgage relief

Australia’s economy remains resilient as global growth slows to its worst performance in more than two decades

The Guardian - AU

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The New Daily

‘Disingenuous’: Inflationary trade-off in Jim Chalmers’ budget

Jim Chalmers claims his cost-of-living package won't worsen inflation, but experts take a different view, saying it will.

The New Daily

‘Greedflation’ – it’s a boon for business but hurts average Australians

Profit-driven inflation: People who decide the prices they charge us like to say that they ‘have no choice’, but they do.

Reuters

Australian govt pledges $10 billion in budget to ease cost of living

Australia's centre-left Labor government said on Monday it would include A$14.6 billion ($9.84 billion) over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation.

The New Daily

Michael Pascoe: Stop growing the landlord class and focus on ‘taboo’ public housing

That means large-scale investment in public housing to reduce the proportion of people crowding into the failed private rental market.

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The New Daily

The Ferguson Report: Tinder ghosts Russia without so much as a text

Australians with nothing else to complain about are protesting against drag queens and all the colours of the rainbow.

The Guardian - AU

Afternoon Update: inflation to decline faster than predicted; author Gabrielle Carey dies; and King Charles’s unnecessary coronation

Australia’s near-term inflation should decline faster than previously predicted as wage growth ‘momentum’ eases and economy slows, RBA says

The New Daily

Inflation falling faster than predicted: RBA’s lifeline for borrowers

Australia's red-hot inflation is expected to cool faster than predicted, the RBA has revealed – offering a lifeline at last to borrowers

The Guardian - AU

Inflation will decline faster than previously forecast as Australian economy slows, RBA says

The Reserve Bank’s quarterly statement on monetary policy predicts that the underlying inflation rate will end the year at 4%

ABC News

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

Pointing to big changes that have greatly affected Australia's capacity to deliver rising standards of living, top economist Ross Garnaut calls for a major policy overhaul.

The New Daily

Michael Pascoe: Higher education rates also key to generational gap on home ownership

Generational factors are more to blame for the housing crisis than hipsters’ love of expensive smashed avo on toast.

ABC News

New Zealand interest rates are still rising — now mortgage stress data reveals how households are coping

New data reveals how New Zealand households that have been under interest rate pressure for more than 18 months are managing to make ends meet.

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