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The Latest Breaking News from Reserve Bank

Rate rise expected to hit households hard

The Reserve Bank of Australia board is expected to announce a 25 basis point rise in the cash rate when it meets on Tuesday, adding to cost of living pain.

AAP

Higher rates, falling home prices and real wages, but no recession: Economists’ forecast for 2023

Higher interest rates, falling home prices and real wages, but no recession. The economic forecast from top financial experts.

The New Daily

Higher interest rates, falling home prices and real wages, but no recession: top economists' forecasts for 2023

Australia’s Reserve Bank is set to push up rates once again at its first meeting for the year on Tuesday, according to all but two of the 29 leading economists surveyed by The Conversation at the start of 2023.

The Conversation

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Letters explaining $5 note shock decision released

Letters explaining the future of Australia's $5 note, which will include a replacement for the portrait of the monarch with a new design, have been released.

AAP

It's tradition: Indigenous designs have been on Australian money since decimalisation

Indigenous Australians are respectfully advised that the following includes the names and images of some people who are now deceased.

The Conversation

Grattan on Friday: Chalmers attracts some flak for blue sky ideas but the government has bigger problems

Jim Chalmers likes to say we need national “conversations” about the economic issues facing the country. Now, just as the new parliamentary year is set to begin on Monday, Chalmers has bought himself a doozy of a conversation, with his essay advocating we embrace “values-based capitalism”.

The Conversation

King Charles' portrait will NOT feature on Australia's new five dollar banknote

KING Charles III’s image will not feature on Australia’s new five dollar banknote.

The National (Scotland)

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King Charles will not feature on Australia’s new five dollar banknote

An effigy of the Queen will continue to be printed on Australia’s coins until the Royal Australian Mint transitions to a portrait of the King

Evening Standard

Afternoon Update: Pell funeral met with protests; no Charles on $5 note; and the ACT’s new EV incentive

Tony Abbott leads the praise inside St Mary’s Cathedral while protesters outside face off with funeral attenders in sometimes heated exchanges

The Guardian - AU

King Charles III’s portrait will not feature on Australia’s new five dollar banknote

The future design is intended to pay tribute to "the culture and history of the First Australians"

Wales Online

Australia’s new $5 banknote will feature Indigenous history instead of King Charles

Government backs Reserve Bank decision to replace Queen Elizabeth II’s portrait with design ‘honouring culture and history of First Australians’

The Guardian - AU

King Charles’ portrait will not feature on Australia’s new five dollar banknote

An effigy of the Queen will continue to be printed on Australia’s coins until the Royal Australian Mint transitions to a portrait of the King.

The Independent UK

Australian $5 note redesign won't feature King Charles, as Queen Elizabeth portrait removed in update

King Charles won't be replacing the late Queen on the new $5 note, after the Reserve Bank decides to honour First Nations culture instead.

ABC News

The Queen will go, but Charles won't replace her on $5 note

The Reserve Bank has decided to update the note to feature a new design.

Newcastle Herald

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AAP

Queen swapped for Indigenous design on future $5 notes

An Indigenous design will replace the portrait of Queen Elizabeth II on Australian five-dollar notes in a move that has rankled monarchists.

AAP

More interest rate increases are warranted, says IMF

Australia's economy is tracking toward a soft landing but the International Monetary Fund envisions more cash rate increases in 2023.

The New Daily

Alan Kohler: The RBA is fighting for its purpose … and its life

Let’s have a sort of “upper-level extension” to the RBA in the fight against inflation, writes Alan Kohler.

The Guardian - AU

Households are clearly cutting spending as rates rise. The RBA must heed this warning

The sharp fall in retail trade is more evidence the Reserve Bank should hold off raising interest rates further

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ABC News

The risk of Australia entering recession has just risen

From a drop in retail sales to falling house prices, there are signs pointing towards a recession in Australia. How will the Reserve Bank respond?

ABC News

Reserve Bank expecting up to 800,000 fixed home loan contracts will end this year

As charities report increases in workers needing support amid rising living costs, the Reserve Bank is forecasting household pressures will increase as fixed-term home loans end.

AAP

Fuel retailer warns of cost-of-living 'trade-offs'

Ampol says there are trade-offs to be made between living costs, fuel security and the energy transition.

Newsroom.co.nz

Small print shows the impact of inflation isn’t 7.2% but a massive 8.7%

Stats NZ publishes a figure for consumers price index plus interest payments, that undermines Government's claim that 'inflation has peaked'. Jonathan Milne reports.

The New Daily

Inflation peak to cause even higher mortgage bills in early 2023, economists say

Australian homeowners are being warned to brace for at least two more interest rate hikes in early 2023 after fresh inflation figures.

ABC News

Inflation rises more than forecast, increasing interest rate hike odds

Inflation comes in higher than expected, increasing the chances of another Reserve Bank interest rate rise next month.

AAP

Annual inflation hits 7.8 per cent

Official inflation figures show inflation hitting 7.8 per cent as cost-of-living pressures continue to weigh on household budgets.

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