The Latest Breaking News from The Reserve Bank of Australia

When the Reserve Bank of Australia (RBA) board voted unanimously to lift the cash rate to 3.85% on Tuesday, the decision was driven by one overriding concern. It wants to stop the rising cost of living from becoming entrenched.

The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points to 3.85%, adding to pressure on households and businesses. While the move was widely expected by markets and most economists, the Reserve Bank says inflation risks remain too high to be comfortable.

A new “complete” monthly consumer price index (CPI) will be released next week, and will become Australia’s primary measure of inflation.

If the Reserve Bank is right, then by the end of 2027 the average wage will only have the same purchasing power as it did at the end of 2011

It comes as a shock as the Reserve Bank of Australia (RBA) and the federal budget forecasts expected unemployment to remain steady through 2026.

Jim Chalmers says the rate cut is ‘very welcome relief for millions of Australians’

The Reserve Bank of Australia lowered the official interest rate by 25 basis points to 3.60% at its meeting today, marking the third cut this year. The move follows reductions in February and May, and comes after a pause in July that surprised analysts and upset mortgage holders.

The Reserve Bank of Australia wants to scrap surcharge fees on card payments in a move it argues will benefit consumers and business.

Decision will come as shock to financial markets and large majority of experts who were sure RBA board would cut for a second straight meeting