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The Latest Breaking News from Reserve Bank

Aust shares break winning streak as RBA lifts rates

The ASX200 has finished down 0.3 per cent in its first losing day this month after the Reserve Bank raised interest rates for the first time in five meetings.

AAP

Cup day rate hike extends finishing line for borrowers

Mortgage-holders have been hit with another interest rate rise as the Reserve Bank intensifies its fight against inflation.

AAP

$10m clifftop mansion first to fall as Reserve Bank warns of mortgagee sales

Banks get ready to impose debt-to-income borrowing limits to protect homebuyers as interest rates and mortgagee sale numbers rise

Newsroom.co.nz

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Politics with Michelle Grattan: Economist Chris Richardson on a likely interest rate rise and the fall in living standards

The International Monetary Fund (IMF) released a report this week calling on Australia to raise interest rates again, adding to the speculation the Reserve Bank will increase the cash rate on Tuesday.

The Conversation

Think the RBA will lift rates on Melbourne Cup day? Don't bet your house on it

Each of Australia’s big four banks is now predicting a rate rise in six days’ time on Melbourne Cup Tuesday. It would add another A$77 to the monthly cost of servicing a $500,000 mortgage and be enough to take the total extra monthly impost since rates began climbing to more…

The Conversation

Grattan on Friday: Cost-of-living crisis is the dragon the government can't slay

At a White House briefing early this week, Joe Biden’s press secretary, Karine Jean-Pierre, was asked whether there’d been any thought of postponing Anthony Albanese’s state visit because of the Middle East conflict.

The Conversation

RBA 'wary' more rate hikes needed to beat inflation

The head of the Reserve Bank admits decision-makers "don't know if the job is done yet" when it comes to interest rate tightening to combat inflation.

AAP

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Grim end to year predicted for Labor with high chance of at least two more interest rate rises

Strong quarterly inflation figures sends market scrambling as odds on for interest rate hike at Reserve Bank’s Melbourne Cup Day meeting

The Guardian - AU

Fingers crossed for soft enough inflation numbers

Inflation has passed its peak and quarterly data will indicate if prices have been decelerating fast enough for the Reserve Bank to keep interest rates on hold.

AAP

Australian stocks gain amid RBA's hawkish minutes

The local share market finished up 0.4 per cent, with stronger gains fading after the Reserve Bank highlighted it had a "low tolerance" to inflation.

AAP

Don't throw the crypto baby out with the mercenary bathwater

The Reserve Bank is preparing for the day when cryptocurrency goes mainstream in New Zealand but there are plenty of sceptics who doubt the benefits of digital assets. Ben Rose argues the case for moving forward.

Newsroom.co.nz

Banks have only passed on three-quarters of interest rate rises to depositors, RBA says

Increase compares favourably with New Zealand and the US, Reserve Bank assistant governor says

The Guardian - AU

Cost of living is the No 1 issue 'with a bullet'; tackling it will win the election

Climate, crime, health and education? Fuggedaboutit. For voters, cost of living is bigger than Covid – hell, it's bigger than Jesus. So tackling inflation will win the election. Jonathan Milne investigates.

Newsroom.co.nz

No rate hike yet, but will it rise on Melbourne Cup Day? It all depends on petrol prices

If the Reserve Bank does push up interest rates again, the most likely next date is its next board meeting, on Melbourne Cup Tuesday.

The Conversation

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A 'hawkish' Reserve Bank rates decision will be bad for borrowers, good for savers

Business & investing: ANZ Bank economists expecting rate rise before year's end, but Kiwibank thinks hikes aren't necessary, writes Andrew Patterson

The Guardian - AU

The Reserve Bank shouldn’t be spooked by Australia’s imported inflation

If you look at what’s increased most in price over the past year, such as petrol, there is little that higher interest rates would change

The Conversation

The Albanese government blew its shot at setting a historic new unemployment target

Treasurer Jim Chalmers says the federal government’s employment white paper is “ambitious”. I’m not convinced.

The Conversation

Employment white paper to deliver more highly qualified workers in net zero, care and digitisation

The government will commit $41 million for technical and further education and “higher apprenticeships” when it releases its white paper on employment on Monday.

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The Conversation

No, the RBA review won't mean handing the bank's decisions to part-time outsiders

Misinformation is circulating about recommendations concerning the Reserve Bank board made by the RBA Review, of which I was a member.

The Guardian - AU

OECD inflation outlook suggests further Australian interest rate rises possible

Intergovernmental economic organisation warns core inflation across the world remains ‘persistent’ and may require policy action from Reserve Bank

AAP

Aust shares fall again as investors stick to sidelines

The local share market has closed down 0.5 per cent following the release of minutes showing the Reserve Bank considered hiking rates earlier this month.

AAP

Petrol price surge further stretches household budgets

Motorists have been hit in the hip pocket by petrol price rises and the latest spike may put a dent in the Reserve Bank's fight against inflation.

Newsroom.co.nz

Heartland breaks ranks to allege 'distorting' behaviour by big banks

Big banks' deep pockets allow them to tilt the playing field with mortgage broker incentives and home loan cashbacks, says Heartland chief executive. Jonathan Milne reports.

Newsroom.co.nz

Reserve Bank credibility in question over 'blackballing' of experts

Allowing macroeconomic and monetary experts to serve on the Monetary Policy Committee is welcome. But, asks Eric Crampton, how did Reserve Bank believe there had never really been a ban?

Newsroom.co.nz

Borrowers left in 'mortgage prison' as firms quit personal lending market

A Commerce Commission inquiry has been warned that Kiwi borrowers will be unable to shift to more competitive lenders because of tough new credit rules. Jonathan Milne reports.

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