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The Latest Breaking News from Reserve Bank

ACTU Secretary Sally McManus says Reserve Bank in 'boomer fantasy land' over wage-price spiral fears

ACTU Secretary Sally McManus warns that the Reserve Bank is out of touch and living in "boomer fantasy land" if it thinks workers can afford real cuts to their wages.

ABC News

As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

ABC News

Still no sign of wage inflation: Burke

Employment Minister Tony Burke insists there is still no sign of wage inflation, noting Reserve Bank governor Philip Lowe's warning over excessive increases.

AAP

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More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

The Loop: Aussies warned of holiday travel disruptions, International Rugby League bans transgender women, and boy hears for first time

Get up to speed on today's headlines with The Loop.

ABC News

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

The New Daily

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

The RBA admits it suffered "reputational damage" when it tried to wind back its COVID-19 pandemic stimulus program.

ABC News

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RBA warns of damage from rising inflation

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

AAP

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

ABC News

The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

The Conversation

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

AAP

Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

ABC News

Giving up insurance, choosing meat-free meals and skipping breakfast: What Australians are doing to survive the cost-of-living crisis

The multi-pronged cost of living crisis has spared few Australians from increased financial stress. In response, cash-strapped households have been forced to find new ways to cut back spending.

ABC News

RBA's Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia's economic outlook and monetary policy.

AAP

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ABC News

The ASX opened strong after the US interest rate rise buoyed Wall Street. But it hasn't cancelled out Tuesday's losses

It's been a dramatic few days on the Australian stock market, with steep losses followed by a brief rise on Thursday morning. But there are still more twists and turns to come.

The New Daily

Alan Kohler: Albanese’s note to self – Don’t get blamed for the Morrison crises

Governments usually change after a recession, not before one, so the job is a nice one – to manage the recovery. But this time is different.

The New Daily

Albanese welcomes pay rise for pandemic ‘heroes’

Prime Minister Anthony Albanese has welcomed the Fair Work Commission's decision to raise the minimum wage by 5.2 per cent amid concerns about inflation.

The Guardian - AU

Lucky dollar: 5.2% minimum wage increase is a significant early political win for the Albanese government

Backing the wage rise shows Labor is on the side of workers at a time when many are doing it tough

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The Conversation

Fair Work Commission gives a 5.2% – $40 a week – increase in the minimum wage

The Fair Work Commission has announced a rise in the minimum wage of 5.2% or $40 a week, taking it to $812.60 a week or $21.38 an hour.

ABC News

Reserve Bank governor Philip Lowe warns it is unclear how high interest rates will go

Philip Lowe has warned Australians they need to be prepared for substantial interest rate rises over the rest of this year, conceding he is not sure how high they might go.

The Guardian - AU

ASX: Australian stocks close almost 3.6% down after global sell-off on inflation fears

Benchmark ASX200 index closes 246 points lower, after falling 360 points in the first 15 minutes of trading on Tuesday

ABC News

Interest rates for savings accounts are rising after rate hike, but are they quick enough and by how much?

The Reserve Bank's cash rate hike may be doom and gloom for mortgage borrowers, but Inge Meldgaard is hopeful that higher rates will boost earnings from her savings.

The Conversation

Australia's Reserve Bank has got a lot right, but there's still a case for an inquiry

Treasurer Jim Chalmers is about to commission an independent review of the Reserve Bank of Australia. Refreshingly, his election promise was bipartisan – both sides of politics want it.

The New Daily

Alan Kohler: The two great stupidities behind our inflation

Here’s a wild idea for economists to smile at condescendingly: How about the Reserve Bank stands back and lets this inflation episode run its course.

AAP

Payroll jobs grow more slowly than 2021

The Australian Bureau of Statistics said payroll jobs grew by 0.2 per cent in the month to May, recovering after the impact of the Easter holiday in April.

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