The Latest Breaking News from Reserve Bank

Australia’s top economists have overwhelmingly endorsed intervention to restrain gas and electricity prices, with only three of the 47 leading economists surveyed believing the best thing the government can do is to leave things to the market.

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

Times are tough in Australia right now, but Reserve Bank boss Philip Lowe doesn’t think you’d want to be anywhere else.

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Interest rates will likely continue to rise to subdue inflation, bank’s quarterly statement says

The Reserve Bank expects a couple of tough years for Australians, with real wages continuing to fall as inflation persists, economic growth slows and unemployment starts to rise.

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

Rising wages and pressure on household finances are forcing people into the workplace who would prefer to be home with their families or studying to provide NZ a high-skilled workforce.

The Reserve Bank is still on its quest to kill inflation, but what exactly still needs to be put to the sword?