The Latest Breaking News from Reserve Bank

The ASX200 has fallen 0.3 per cent, with losses for uranium producers and gains for goldminers, as investors await the outcome of the RBA's two-day meeting.

A June interest rate meeting comes as the federal government defends its budget management in an economy facing slow growth and persistent inflation.

The Australian economy came close to a standstill in the first three months of this year. March-quarter economic growth sank to just 0.1%, meaning that, when adjusted for inflation, there was hardly any more income, spending or production than the quarter before.

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government. Read further on Dynamite News:

Asked to grade Treasurer Jim Chalmers’ third budget on his own criteria of delivering on “inflation in the near term and then growth in the medium term”, most of the 49 leading economists surveyed by the Economic Society of Australia and The Conversation have failed to give it top marks.

The spending appetite of consumers remains a key source of uncertainty for the Reserve Bank as the battle against inflation rages.

Poll finds lukewarm response to Labor’s 2024 budget, with only 27% of people thinking it will make a ‘meaningful difference’ to the cost of living

The minutes from the last Reserve Bank meeting will outline the thinking behind keeping rates on hold and how seriously the case to hike was considered.