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The Latest Breaking News from RBA

Afternoon Update: Labor stings RBA governor on wages remark; Friendlyjordies’ home ‘firebombed’; and the world’s oldest meal

RBA governor Philip Lowe says it is ‘best [to] avoid’ pushing wages up even as workers suffer real wage cut due to inflation

The Guardian - AU

Bridget Archer flags crossing the floor again on national integrity commission – as it happened

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The Guardian - AU

Michael Pascoe: Interest rates won’t work like they used to

The RBA board should be thinking very, very seriously about before lifting interest rates again, Michael Pascoe writes.

The New Daily

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Global shocks likely to drive more frequent interest rate changes, RBA says

Central banks will need to adjust rates more often to respond to unpredictable levels of inflation, Philip Lowe says

The Guardian - AU

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth

The Reserve Bank governor warns the global economic conditions that helped central banks keep inflation low and stable are reversing, making for more economically volatile times, and potentially higher interest rates ahead.

ABC News

RBA leaves 50bp rate hike on the table

The Reserve Bank is prepared to do whatever is necessary to ensure the spike in inflation is only temporary and doesn't linger.

AAP

Fixed-rate mortgage coming to an end? You might be in for a shock

Homeowners who have been enjoying an ultra-low fixed-rate mortgage may be in for a shock when it comes time to refinance, with experts predicting some recent buyers will find themselves trapped in a "mortgage prison".

The New Daily

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Reserve Bank December rate rise on course

The central bank governor will give a major speech this week and could signal a pause in interest rate hikes is no longer on the table for this year.

AAP

Michael Pascoe: Once more for the dummies – we need higher wages

Inflation is more than double the headline wages growth – wages are lagging, not leading, Michael Pascoe writes.

The New Daily

RBA moves to regain public trust after interest rates advice damages reputation

The Reserve Bank faces an uphill battle to regain the trust of Australians after its doomed interest rates advice.

The New Daily

RBA signals it may pause further interest rate rises

Minutes of November Reserve Bank of Australia meeting say board is ‘prepared to keep rates unchanged’ while it assesses state of economy and inflation

The Guardian - AU

RBA admits rates forward guidance faults

The prescriptive cash rate predictions seen during COVID-19 caused serious communication challenges, a Reserve Bank review has found.

AAP

‘Reputational damage’: RBA admits failure in COVID interest rates outlook

The Reserve Bank has admitted its prediction that interest rates would be unlikely to rise until 2024 wasn't "well suited" to COVID.

The New Daily

RBA flags rate pause but more rises likely

Mortgage holders are likely to endure more rate hikes but the central bank board wants to give its policy tightening a chance to flow through the economy.

AAP

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ABC News

Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment

Deutsche Bank expects Australia's unemployment rate to spike to 4.5 per cent by the end of 2023, leading to a recession under the investment bank's definition.

ABC News

Bank profits jump but rising interest rates are a double-edged sword

Australia's big four banks raked in nearly $30 billion in profits over the 2022 financial year as people struggled with the cost of living. And higher interest rates will put more mortgage borrowers at risk.

AAP

Handouts would have fuelled inflation: RBA

A Reserve Bank senior official has fielded questions about Labor's budget, its undershot inflation forecasts and its 2024 forecast for interest rate rises.

ABC News

Reserve Bank of Australia rejects 'scorched earth' policy to tame inflation with faster interest rate rises

The Reserve Bank of Australia will not hesitate to raise interest rates "quite quickly" if there are signs inflation is getting too far out of control, its deputy governor says.

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The Guardian - AU

Greens claim treasurer ‘dodged’ housing scheme question – as it happened

This blog is now closed

The Guardian - AU

You can’t eat GDP: why Australian households are in for a massive, historic hit

Very smart people are nodding and suggesting the economy needs to slow to get inflation under control and, well, damn the consequences

AAP

Energy prices top of mind for RBA

The second in command at the Reserve Bank says soaring energy prices could throw out its forecast and drive inflation even higher.

ABC News

New data shows the economy is going to slow significantly over the coming two years

ABS and CommSec data shows there are already signs of a slowdown as average household spending goes up 15 per cent in the past five years.

The Conversation

In defence of RBA Governor Philip Lowe: an easy scapegoat for record interest rate rises

Reserve Bank Governor Philip Lowe is getting terrible press, most of it undeserved.

ABC News

Consumer confidence plunges below GFC lows and Christmas cut-backs planned

Consumer confidence plunges below the levels seen during the global financial crisis, causing a record number of households to slash their Christmas spending plans.

AAP

Call for climate to be central to RBA role

A legal requirement to pursue sustainability could be added to the Reserve Bank's prosperity and stability remit under new ideas submitted to a review.

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