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The Latest Breaking News from RBA

Michael Pascoe: Reserve Bank review fails at the starting gate

What has been announced is rather like believing a review of the army uniform is overdue, but only reviewing left boots, writes Michael Pascoe.

The New Daily

ANZ grows, Tesla disappoints, and inflation keeps surging in this week’s market wrap

The ASX200 traded to its highest level in more than a month this week. Here are five of the biggest events that caught investors' attention.

The New Daily

Adding renewables to the power grid won't heal damage climate alone

At some stage, within that 28 years, the use of fossil fuels to produce energy will have to be terminated.

Newcastle Herald

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RBA probe seeks transparency reforms

A review in the RBA will seek to look at the board governance and current policy settings.

The Canberra Times

The Reserve Bank will face a major review. Here’s what that means

Australia’s inflation target and why the Reserve Bank has failed to achieve it will be probed in the biggest review of the central bank in decades.

The New Daily

Mortgage holders should brace for short-term pain as RBA signals steady interest rate rises to tackle inflation

Philip Lowe says reserve bank looking for its ‘neutral rate’ which could see cash rate almost double in coming months

The Guardian - AU

‘Right policy choice’: RBA boss Philip Lowe defends COVID response as inflation anger grows

Reserve Bank governor Philip Lowe has defended his COVID response, saying that pinning interest rates to the floor in 2020 was the “right policy choice”.

The New Daily

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Global Housing Boom Fades as Interest Rates Climb

Rising interest rates are slamming the brakes on a global housing boom that spread far beyond the U.S. during the pandemic, heaping extra pressure on central banks as they try to tame inflation without triggering deep downturns in their economies.

Bangkok Post

Mask mandates ruled out as nation records 90 Covid deaths – as it happened

This blog is now closed

The Guardian - AU

The Loop: UK reaches record temperatures, RBA up for review, Putin visits Iran and test yourself in our 90th anniversary news quiz

Here's your TL;DR for this morning's news.

ABC News

RBA confident households can withstand more interest rate rises

A senior RBA official is confident households can withstand more rate rises but flagged concerns over high debt levels.

The Canberra Times

Reserve Bank review will scrutinise who sits on the board and whether their views should be more transparent

A Reserve Bank of Australia review is set to examine whether its long-standing inflation target should remain.

ABC News

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

The Conversation

Monthly mortgage bills could rise by another $650. But the RBA’s not worried yet

Home owners are facing another $650 rise in their mortgage bills within months as the economy is pushed to the brink to curb inflation.

The New Daily

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The New Daily

How rising interest rates could work for you with term deposits and savings

With the RBA and other central banks winding up cash rates, term deposit rates and even interest rates on savings accounts have started to rise.

The Guardian - AU

Up to a third of mortgage holders could struggle to keep up with repayments, RBA says

Deputy reserve bank governor, Michele Bullock, says most Australians are ‘well placed’ to absorb the impact of rate rises

AAP

ANZ predicts cash rate above 3 pct in 2022

ANZ is forecasting the cash rate will hit 3.35 per cent for November, a prediction that's the most hawkish of the big four banks.

The New Daily

More RBA rate hikes to come as investors brace for Twitter, Netflix earnings reports

The meeting minutes and a speech by RBA governor Philip Lowe on Wednesday are likely to reiterate the overarching message – more rate hikes are coming.

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ABC News

Federal Treasurer Jim Chalmers warns on budget outlook, New Zealand inflation surge hints at even bigger interest rate rises

Fresh inflation figures out of New Zealand sound a warning that the worst of price and rate rises may still be yet to come, says Australia's federal Treasurer as he warns Australians to brace for next week's "confronting" budget update.

Newcastle Herald

Letters: RBA's erroneous advice added to hardship

Newcastle Herald readers have their say.

The New Daily

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

The Guardian - AU

A recession is not inevitable in Australia – and certainly not necessary

The level of inflation we have and its causes do not require a recession to reduce them. Such talk is foolish

ABC News

RBNZ, Bank of Korea lift interest rates by 50 basis points again, RBA likely to follow

Central banks in New Zealand and Korea have pushed ahead with further super-sized interest rate rises as they attempt to tame rampant inflation.

The New Daily

Michael Pascoe: But what if the inflation hawks are wrong …

“Generals always fight the last war” – and that could be the case with the world’s inflation hawks now. It’s not a good thing.

ABC News

The Reserve Bank can look across to New Zealand for a hint on Australia's economic future

New Zealand is about six months ahead of Australia in its moves to bring down inflation, so is looking across the ditch a glance into our future?

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