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The Latest Breaking News from the Reserve Bank

Is the 2024 budget inflationary? Warwick McKibbin and other economists say ‘yes’

Former RBA board member among experts who say Albanese government’s third budget is likely to at least delay next interest rate cut

The Guardian - AU

Those calling for higher interest rates in Australia should be careful of what they wish for

We need to avoid replicating the experience of the 1990s, when taming inflation involved destroying the economy

The Guardian - AU

Markets simmering as five-day rally peters out

The ASX200 closed marginally higher across most sectors as a medical tech company recorded eight per cent growth in one day.

AAP

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Treasurer worried about home building pipeline

Not nearly enough houses are being built to meet growing demand but the federal government is still confident it can meet its 1.2 million homes target.

AAP

Inflation in Australia is still stubbornly high. Will the RBA raise interest rates again?

With hopes for a rate cut gone, there is speculation of another rise before the end of 2024. What factors will sway the Reserve Bank’s decision?

The Guardian - AU

Does Australia’s higher-than-forecast 3.6% inflation dash hopes for an interest rate cut?

The March-quarter figure makes a cut less likely. Still, the Reserve Bank will probably give more weight to how quickly it can get to its target range

The Guardian - AU

RBI imposes business curbs on Kotak Bank for IT infra deficiency

RBI directs Kotak Mahindra Bank to stop new customer onboarding and credit card issuance due to IT compliance issues.

The Hindu

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‘Triple spending’: Zimbabweans bear cost of changing to new ZiG currency

Businesses, transport, government services reject old notes despite the unavailability of new bills until end of month.

Al Jazeera

Australia’s unemployment rate rises to 3.8% in March as employers shed more than 6,000 jobs

Reserve Bank and Treasury had predicted unemployment rate would rise from February’s 3.7% as interest rates bite

The Guardian - AU

South Africa Inflation Slows, Rate Cuts Not Imminent

South Africa's decreasing inflation rate signals positive economic trends, but caution is advised for immediate rate cuts.

Top News

Talk of interest rate cuts soon is optimistic – here’s why the RBA may decide doing nothing is safer

Australians are hurting from rate rises more than anyone. But that doesn’t mean the Reserve Bank is about to start cutting

The Guardian - AU

Rate hike talk ditched as RBA keeps options wide open

Minutes from the last Reserve Bank of Australia board meeting suggest everything is going according to plan - for now.

AAP

Afternoon Update: one in 20 mortgage holders spending more than they earn; Reddit shares soar; and a crocodile in a service station

Reserve Bank says share of mortgage holders under pressure should halve by the end of 2025

The Guardian - AU

One in 20 Australian mortgage holders are spending more than they earn

Reserve Bank says households are generally weathering the record run of interest rate rises but 5% of owner-occupiers are in a dire financial position

The Guardian - AU

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The Guardian - AU

Now is not the time to do anything more to slow the economy – it’s already in danger of stalling

The Sahm rule lets us get in front of recessions – so alerts should be flashing in the Treasury and RBA

AAP

Australian shares gain ground after dovish RBA meeting

The ASX200 has finished up a third of a percentage point after the Reserve Bank moved to a more neutral stance on interest rates, dropping its tightening bias.

The Guardian - AU

Interest rate rise unlikely after sluggish quarter of GDP growth, Australian economists say

Spending on Taylor Swift concerts defies pattern of consumers tightening their belts, with CBA predicting a September rate cut

The Guardian - AU

Australia’s economy has slowed to a halt. It’s time for the Reserve Bank to take its foot off the brake

The country ended 2023 teetering on the brink of recession, with essentially only population growth keeping things going

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The Guardian - AU

Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut

The Reserve Bank is betting on CPI returning to within its target range of 2%-3% by next year

AAP

Former governors want power to overrule RBA to stay

Resistance is building to the federal government's plan to scrap a never used power to intervene in Reserve Bank decision making.

The Guardian - AU

Light-touch competition policy hasn’t helped Australian mortgage holders. It’s time to get tough

Acquisitions such as ANZ’s of Suncorp should be presumed to be anticompetitive until proven otherwise

AAP

Australia's jobless rate hits two-year high

Fresh labour data is unlikely to shift the dial for the central bank despite the jobs market slowdown appearing a little ahead of schedule.

The Guardian - AU

Qantas decision to reduce flight capacity may have led to RBA rate hike, inquiry finds

The ACTU inquiry into price gouging chaired by Allan Fels strongly criticised the lack of competition in Australia’s domestic aviation industry

AAP

Rates probably on hold but all eyes on RBA governor

More interest rate hikes are broadly off the table but the Reserve Bank governor is likely to keep her options open in a big week of public appearances.

AAP

Home lending sinks but a stronger 2024 on the horizon

New home loan activity has dipped after a promising few months but improving economic conditions should pave the way for a better 2024.

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