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The Latest Breaking News from Reserve Bank

Interest rate decision: RBA raises official cash rate to 0.85 per cent amid soaring inflation — as it happened

The Reserve Bank announces a cash rate rise of half a percentage point. Look back at how the day unfolded in our live blog.

ABC News

Morning mail: Boris Johnson wins confidence vote, gas ‘trigger’ at the ready, RBA rate decision looms

Tuesday: Rising fuel, food and energy prices have people meticulously tracking their spending. Plus: the bike desk shows us why we can never relax

The Guardian - AU

Memo RBA: we ought to live with inflation, more of it

Later today, everyone expects the Reserve Bank board will push up its cash interest rate for the second consecutive month.

The Conversation

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read the most diverse news in one place.

‘Mortgage prison‘: Home owners facing budget squeeze as interest rates rise

Australians are being hit with a double whammy of rising mortgage costs and falling property prices as interest rates rise.

The New Daily

Interest rates: RBA weighs up risk of ‘climb shock’ ahead of decision

Economists split on how much Reserve Bank will lift cash rate on Tuesday as it looks to rein in inflation

The Guardian - AU

Public sector pay to fall under NSW government wage cap, report finds

Exclusive: Union-commissioned study finds cap will see wages fall by thousands of dollars a year

The Guardian - AU

Reserve Bank warns of more construction firm collapses

New developments in the collapse of Decmil Construction NZ highlight how one falling domino can endanger struggling building firms throughout the country

Newsroom.co.nz

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‘Two-speed market’: Property prices are falling as rates rise, but not everywhere

Australia’s housing market has started falling from its pandemic highs, with property prices down 0.11 per cent in May amid rising interest rates.

The New Daily

Reserve Bank takes on fuel prices in readiness for a climate change remit

The central bank is looking to balance its obligation to manage inflation with the necessary costs of cutting emissions, in consultation on its remit.

Newsroom.co.nz

Alan Kohler: Jim Chalmers needs an inquiry into tax

By far the best thing Jim Chalmers could do for his party and the country would be to find a way to escape the 23.9 per cent limit on tax to GDP.

The New Daily

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Conversation

Business: RBI to adopt graded approach to introduce digital currency

The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operations of currency and payment systems. Full story on Dynamite News:

Dynamite News

China's Covid lockdowns add fuel to NZ's inflation fire

Renewed Covid restrictions in regions of China have accelerated increases in New Zealanders' cost of living.

Newsroom.co.nz

New Zealand’s central bank lifts rates to 2%, the highest level since 2016

Reserve Bank ‘resolute in its commitment’ to keep inflation in the 1-3% target range, signalling further rate rises may still be needed

The Guardian - AU

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ABC News

HomeBuilder and first home buyer grants made housing less affordable says Reserve Bank

Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes for some Australians, according to the Reserve Bank.

AAP

The only way is up for NZ cash rate

Mortgage holders in New Zealand are bracing themselves for another cash-rate hit from the Reserve Bank.

The Guardian - AU

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

Newsroom.co.nz

Mortgage defaults and job losses – Reserve Bank reveals NZ's inflation fears

Many NZers expect pay rises in coming months, but they are increasingly concern about the harsh impact of the cost of living crisis on their own families' lives, according to the Reserve Bank.

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Newsroom.co.nz

First home buyer help for hundreds more – just move to Hamilton or Queenstown

The Government’s Budget 2022 announcement around its First Home Loan and Grant schemes is a step in the right direction to help new buyers get a mortgage. Huge hurdles remain

The Conversation

At 3.9%, Australia's unemployment rate now officially begins with '3'. What's next?

Early in the election campaign, on April 14, we learned that Australia’s unemployment rate had slipped below 4% in March, to 3.95% – the lowest rate in 48 years.

The Conversation

Proof positive. Real wages are shrinking, Wednesday's figures put it beyond doubt

Every three months the Bureau of Statistics releases the lesser-known cousin of the consumer price index. It’s called the Wage Price Index (WPI) and it records changes in the overall level of wages, in the same way the price index records changes in the overall level of consumer prices.

ABC News

Will a 5 per cent pay rise for workers lift the cost of your coffee and petrol by the same amount?

Boosting workers' wages by 5 per cent – for all workers, not just those on the minimum wage — would lead to an increase in prices across the economy of about 2 per cent, according to a new report.

ABC News

Reserve Bank minutes show a bigger interest rate rise was considered in May, still possible in June

Borrowers may only have narrowly escaped a bigger interest rate rise this month and should brace for the chance of a super-sized move in June, the Reserve Bank's latest minutes reveal.

The New Daily

Michael Pascoe: Everyone is wrong about a 5.1 per cent minimum wage rise

The government knows how miserable the real-world outcome is for people on low wages suffering excruciating effective marginal tax rates.

Tribune News Service

Dallas Fed appoints first female president to succeed Rob Kaplan

Federal Reserve Bank of New York executive Lorie Logan will become the 13th president of the Dallas Fed and its first female chief following a seven-month search.

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