The Latest Breaking News from RBA

Australian shares fall ahead of the RBA meeting on Tuesday, pulled down by a slide in global equities as US jobs data signals the Federal Reserve will likely continue raising interest rates to ease inflation.

Petrol prices have eased below $2 per litre, ending a six-week run of increases, but rising global oil prices suggest this relief will be short-lived.

This is the text of an open letter from 12 leading economists, sent on Sunday:

From sluggish wages to red-hot inflation, there are some unusual things happening in Australia’s economy

There are signs next week's national accounts will show the economy was barely growing in the first three months of the year.

Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes for some Australians, according to the Reserve Bank.

I suspect Anthony Albanese will be a better PM than he was Opposition Leader – his talents more suited to making things work than tearing things down.

The RBA's assistant governor for economics Luci Ellis has refused to predict how high interest rates may rise, but reiterated more increases are to come.

The U.S. stock market rebounded yesterday after talks around a possible easing of import tariffs on Chinese . However, investors remain concerned about multi-decade high inflation and the possibility of economic contraction. This is expected to keep the markets volatile in the near term. So, we think that amid the…