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The Latest Breaking News from Reserve Bank

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

The Conversation

How rising interest rates could work for you with term deposits and savings

With the RBA and other central banks winding up cash rates, term deposit rates and even interest rates on savings accounts have started to rise.

The New Daily

Rates put first home buyers at risk: RBA

Reserve Bank deputy governor Michele Bullock has told a Brisbane audience recent first home buyers are most at risk of default in the face of rising rates.

AAP

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Extra half billion dollars in fuel cuts could have gone to critical health shortages

Unspent Covid funds that could have brought critical medical staff into the country will instead provide a continued discount for the use of the roads, and have no real impact on inflation.

Newsroom.co.nz

ANZ predicts cash rate above 3 pct in 2022

ANZ is forecasting the cash rate will hit 3.35 per cent for November, a prediction that's the most hawkish of the big four banks.

AAP

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

The Conversation

New Zealand inflation hits 7.3%, the highest rate since 1990

Pain for households as consumers price index for June quarter exceeds forecasts and more interest rate rises loom

The Guardian - AU

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Inequality has worsened and the budget is shot, so means test everything

Casuals with no access to sick leave obviously need to be looked after by the government, but everyone else should be told to look after themselves.

The New Daily

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

The New Daily

‘Secret weapon’: Female jobs boom drives COVID recovery as unemployment rate falls

Women have emerged as a “secret weapon” driving Australia’s world leading COVID recovery, with a huge rise in female jobs easing labour shortages.

The New Daily

A recession is not inevitable in Australia – and certainly not necessary

The level of inflation we have and its causes do not require a recession to reduce them. Such talk is foolish

The Guardian - AU

The Reserve Bank can look across to New Zealand for a hint on Australia's economic future

New Zealand is about six months ahead of Australia in its moves to bring down inflation, so is looking across the ditch a glance into our future?

ABC News

Where to earn the highest rates on your savings

The top 10 savings accounts offer a chance to earn decent returns on cash deposits – especially if you are happy to make the move to a new bank.

The New Daily

Interest rate rises push household finances towards pandemic lows, confidence plunges

Australians are still spending record amounts of money, but surveys show that could change quickly as interest rate rises send consumer confidence towards pandemic lows.

ABC News

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Newsroom.co.nz

Meremere v Normandale – the suburbs turning the house price tables

Ahead of this week's anticipated interest rates hike, we discover which sunny suburbs are hardest hit by the property slump – and which ones are bucking the trend.

The New Daily

How to haggle with lenders to get the best home loan deal

Three rate rises in three months – it's a tough ask for home owners, but it is possible to ease the financial pain. Here's how to land a better deal.

ABC News

The Loop: Daniel Johns avoids jail, cargo ship crew rescued, Boris Johnson faces leadership questions, banks pass on rate rise

Here's your TL;DR for today's news.

ABC News

Commonwealth Bank, ANZ, NAB and Wespac to lift variable mortgage rates by half a percentage point

All of the big four banks will pass on the Reserve Bank's latest interest rate rise to home loan customers in full — but not all savers.

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The New Daily

Michael Pascoe: Australian official briefed foreign power against RBA

While all eyes were on the Reserve Bank on Tuesday, an extraordinary story in the weekend press seems to have slipped by without notice.

AAP

CBA, ANZ raise their interest rate levels

ANZ has followed Commonwealth Bank in raising mortgage rates following the central bank's decision to lift the cash rate to 1.35 per cent.

The Conversation

Rates rise to 1.35% – and there's no stopping now the RBA's on a mission to whip inflation

There was no suprise in the board of the Reserve Bank of Australia lifting interest rates at its July meeting. The only question was by how much.

The New Daily

Cost-of-living crisis will get worse before it gets better: Jim Chalmers

Treasurer Jim Chalmers has conceded the cost-of-living crisis will get worse before it gets better after the RBA hiked interest rates by 50 basis points.

ABC News

Interest rate decision: RBA raises cash rate by half a percentage point to 1.35 per cent — as it happened

The Reserve Bank of Australia has announced a cash rate increase of 50 basis points as it seeks to curb inflation — as it happened.

ABC News

ASX notches up two-day winning streak after RBA's double interest rate hike

Australian shares rise for a second straight day as the Reserve Bank lifts interest rates for a third straight month in a desperate attempt to bring inflation down.

The Guardian - AU

Morning mail: Sydney braces for more flooding, interest rates tipped to rise, six die in US parade shooting

Tuesday: A double whammy of interest rate rises expected over next two months. Plus: Winston Churchill’s ‘magnificently idiotic’ platypus quest

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