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The Latest Breaking News from RBA

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.

AAP

HomeBuilder and first home buyer grants made housing less affordable says Reserve Bank

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.

ABC News

Michael Pascoe: Opportunity knocks for Australia in China

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 New Daily

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RBA declines to speculate on rate peak

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.

AAP

Diversify Your Portfolio with These 5 Outperforming Foreign Stocks

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…

StockNews.com

Wage debates and inflation are just the tip of what business want the new government to tackle

Businesses are battling rising costs, while their customers' purse strings are tightening. Tackling this situation will be the new government's great task, and there's only so much it can do to control some broad economic pressures.

ABC News

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

The Guardian - AU

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Punishment at the petrol pump: Chalmers

New federal treasurer Jim Chalmers says motorists are being punished at the bowser again, but won't promise to retain the fuel excise cut beyond September.

AAP

Australia's economy holds plenty of pitfalls for election winner

Whichever party takes the reins of power at Australia's election on Saturday faces an economic road pitted with pot holes, from runaway inflation to rising interest rates, ballooning debt and an over-heated housing market.

Reuters

Jobless rate holds at 3.9 pct in April

The unemployment rate remained at 3.9 per cent in April after the Australian Bureau of Statistics downwardly revised the March result from four per cent.

AAP

‘Devastating’: Households suffer biggest real pay cut since 2001

Australian households are suffering the worst cost-of-living squeeze in more than two decades, with real wages falling at the fastest pace since 2001.

The New Daily

Rates, inflation to take edge off growth

New data suggests the sharp rise in inflation and an expected rapid rise in interest rates will take the edge off Australia's economic expansion.

AAP

Reserve Bank minutes show a bigger interest rate rise was considered in May, still possible in June

Borrowers may only have narrowly escaped a bigger interest rate rise this month and should brace for the chance of a super-sized move in June, the Reserve Bank's latest minutes reveal.

ABC News

RBA contemplated larger cash rate hike

The minutes of the Reserve Bank of Australia's May board meeting show there was concern among board members about waiting to raise the cash rate.

AAP

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The New Daily

Market wrap: Federal election and hawkish RBA move expected to dominate markets this week

The month of May has lived up to its reputation as a volatile one for markets. The ASX200 closed the week 1.8 per cent lower at 7075.

The New Daily

Scott Morrison faces a storm of anger as latest data reveals standard of living is nosediving

Scott Morrison’s claim to strong economic management will be tested in the final week of the campaign, as new data reveals a rise in dissatisfied voters.

AAP

New regulations coming to payment systems

The government is developing a new framework for regulating payment platforms, Reserve Bank of Australia deputy governor Michele Bullock says.

The Guardian - AU

Morrison’s objection to lifting wages in line with inflation puts spotlight on pensions linked to CPI

Prime minister says such a move would be ‘incredibly reckless’ but payments such as pensions are already tied to cost-of-living changes

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The New Daily

‘Not necessarily good news’: Property plunge no panacea for housing affordability crisis

House prices will need to fall by more than 20 per cent to offset the declining affordability of owning a home due to rising interest rates, new data shows.

ABC News

Clive Palmer's United Australia Party is promising to cap mortgage interest rates. Can it be done?

With the cost of living surging and interest rates rising for the first time in more than a decade, a cap on mortgage repayments would come as welcome relief for millions of borrowers. But can it be done and who would end up paying for it?

The Guardian - AU

Markets turmoil and interest rate rises: the economic challenges facing Australia after the election

Soaring energy costs, stagflation fears and calls for higher wages are just some of the bumps in the road awaiting a new or returned government

ABC News

Labor leader Anthony Albanese backs minimum wage increase in line with inflation

In an unusual move, Opposition Leader Anthony Albanese endorses a 5.1 per cent increase to the minimum wage as inflation skyrockets.

The Conversation

Stand by for the oddly designed Stage 3 tax cut that will send middle earners backwards and give high earners thousands

The Reserve Bank is pushing up interest rates to take money out of our hands.

AAP

Spending up in March quarter despite COVID

Retail spending grew 1.2 per cent in the March quarter to a record $93.2 billion, to be 4.9 per cent higher than a year earlier.

AAP

Many struggled even before rate increase

A new survey has found almost one-in-three borrowers were struggling to make ends meet even before the Reserve Bank of Australia raised the cash rate last week.

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