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The Latest Breaking News from RBA

Michael Pascoe: The RBA is hunting down the bezzle

Most of what is pushing up prices now won’t be affected by increasing interest rates – but higher rates will wound the bezzle.

The New Daily

Chalmers does not see risk of recession

Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.

AAP

First homebuyers will likely be hit hardest by Australia’s interest rate rises

Analysts warn economic consequences of RBA’s ‘blunt instrument’ attempt to limit inflation will fall disproportionately on outer suburbs

The Guardian - AU

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‘A taste of what’s to come’: Home owners slugged with second rate hike

Home owners could see their monthly mortgage bills rise by hundreds of dollars in coming weeks after a second RBA rate hike in as many months.

The New Daily

Commonwealth Bank, ANZ and NAB join Westpac to raise variable mortgage rates by half a percentage point

The Commonwealth Bank, ANZ and NAB join Westpac in passing on the Reserve Bank's interest rate rise to mortgage borrowers in full.

ABC News

Treasurer warns of ‘severity and magnitude of inflation challenge’ after RBA hikes official interest rate

Jim Chalmers responds to Reserve Bank decision to lift cash rate 50 basis points as Anthony Albanese declines to comment during Indonesia trip

The Guardian - AU

London’s economic recovery shows ‘levelling up’ struggles; stagflation fears rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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A 'difficult' day for homeowners as Treasurer Jim Chalmers predicts more pain before inflation is brought under control

Jim Chalmers says a rise in interest rates is "difficult news" for home owners and warns life in Australia is set to become even more expensive.

ABC News

Reserve Bank hikes official interest rate by 50 basis points to 0.85% to curb inflation

Decision exceeded predictions from economists while Westpac was the first of the big banks to pass on the rise in full to customers

The Guardian - AU

Reserve Bank hikes cash rate to 0.85 per cent

The Reserve Bank has lifted the cash rate from 0.35 per cent to 0.85 per cent in a bid to curb rising inflation. It is the second hike in as many months.

The New Daily

Interest rate decision: RBA raises official cash rate to 0.85 per cent amid soaring inflation — as it happened

The Reserve Bank announces a cash rate rise of half a percentage point. Look back at how the day unfolded in our live blog.

ABC News

Morning mail: Boris Johnson wins confidence vote, gas ‘trigger’ at the ready, RBA rate decision looms

Tuesday: Rising fuel, food and energy prices have people meticulously tracking their spending. Plus: the bike desk shows us why we can never relax

The Guardian - AU

Memo RBA: we ought to live with inflation, more of it

Later today, everyone expects the Reserve Bank board will push up its cash interest rate for the second consecutive month.

The Conversation

Rate spike 'difficult news' for households

Treasurer Jim Chalmers says the 50 basis point increase in the cash rate by the Reserve Bank of Australia will be difficult news for households.

AAP

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The New Daily

Market Wrap: Volatile inflation and a deluge of data as China emerges from lockdowns

A deluge of data in China will provide fresh insights into the economic impact of the COVID lockdowns, including trade, consumer and producer inflation.

The Guardian - AU

Interest rates: RBA weighs up risk of ‘climb shock’ ahead of decision

Economists split on how much Reserve Bank will lift cash rate on Tuesday as it looks to rein in inflation

ABC News

ASX falls ahead of RBA meeting, global stock markets slide, Rio Tinto sued over Queensland refinery

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.

AAP

Petrol back below $2 for some motorists

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.

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The New Daily

Watch: Queen thanks partying Britons, Albanese arrives in Jakarta, RBA tipped to lift interest rates

Watch: Queen thanks Britons as jubilee celebrations end. Anthony Albanese touches down in Jakarta. RBA tipped to hike official cash rate 0.25 per cent to

The Guardian - AU

Skilful economic measures are needed to fight the inflation stalking Australia’s households

Tight labour markets, geopolitical uncertainty and the climate crisis all present gnarly challenges. Three experts explain the solutions

AAP

Home lending plunged 6.4 pct in April

Borrowing for housing fell 6.4 per cent to $30.99 billion in April, representing a steeper fall than economists were expecting.

Benzinga

Ritchie Bros. Auctioneers Names Eric Jacobs As Finance Chief

Ritchie Bros.

The Conversation

Open letter: the RBA review needs to be completely independent of government

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

The Guardian - AU

Anthony Albanese has some tough economic problems on his plate. Here are seven of them

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

AAP

Further sign of lame economy in early 2022

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

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