The Latest Breaking News from Reserve Bank

RBA official Marion Kohler says recovery in population could have ‘unanticipated or more pervasive effects’

“So you think the Reserve Bank board lacks ticker, Jim? You think the focus on getting inflation down needs to be sharpened? Well cop this.”

Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back…

Australia's inflation rate is falling from its December peak, with prices increasing over the March quarter at the slowest pace in more than a year.

Softer rules for smaller institutions would be a bold call for MPs – and one they might regret, if the troubles that have hit SVB, Credit Suisse and others extend down to this corner of the globe, says Jonathan Milne.

Despite the latest inflation figures for New Zealand coming in slightly lower than expected by many economists, the rate remains stubbornly high. At 6.7% for the year to March 2023, the inflation rate is more than double the Reserve Bank’s target range of 1-3%.

If the RBA were a company, the board would have and should have sacked Philip Lowe long ago. But they couldn’t; they knew it and he knew it.

The Reserve Bank review wants to remove economic prosperity as an objective of monetary policy, with some economists arguing house prices and household debt are outside its domain.

Shares in The Warehouse Group slumped to a new low in the face of recession fears, but there are hopes the Red Shed's increased grocery sales will give Kiwi more competitive food prices. Andrew Patterson reports.