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The Latest Breaking News on Rates probably on hold but all eyes on RBA governor

Average long-term US mortgage rate jumps to 6.5% this week

The average long-term U.S. mortgage rate jumped this week to its highest level since November, more bad news for a housing market that’s been in decline for a year

The Independent UK

Interest rates will need to rise again, warns Bank of England rate-setter

Catherine Mann, a hawkish member of the MPC, says high rates necessary to stop inflation becoming embedded in wages and prices

The Guardian - UK

Bank of England rate-setter: High inflation could persist into 2024

Monetary Policy Committee member Catherine L Mann added that the longer inflation persists, the harder it will be to fight

Evening Standard

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UK inflation could fall below 2% this year, Citi forecasts

Falling gas prices and CPI decline could boost public finances before 2024 general election

The Guardian - UK

Major bank predicts 'mild recession' as bankers' bonus pot swells to five-year high

ONE of the country’s biggest banks is steeled for a “mild recession” in the coming months as house prices are predicted to fall amid continued…

The National (Scotland)

Lloyds says UK will have 'mild' recession but house prices will tumble

The banking giant said it had already seen an increase in the number of people defaulting on their mortgages

Wales Online

Hopes rise that UK might avoid recession after services sector rebound

Pound edges up as stronger economic growth increases chances of further interest rate rises

The Guardian - UK

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Big banks are raking in billions, and we all pay the price – time for a new windfall tax

Rises in interest rates are driving unemployment, low wages and poverty while the banks cash in, says campaigner Fran Boait

The Guardian - UK

Australia to flirt with recession this year, warns NAB

Economists are warning Australia is at a heightened risk of recession in 2023 as the Reserve Bank keeps aggressively raising interest rates, with a per capita recession looking likely.

ABC News

New insight into the logic behind February rate rise

The Reserve Bank's board minutes will be scoured for fresh insights into the central bank's cash rate decisions and how many more hikes are to come.

AAP

Guardian Essential poll: most think RBA rate hikes an overreaction as shine comes off Albanese

Majority believe government at least partially to blame for rises but don’t assume Coalition would manage them better

The Guardian - AU

Reserve Bank faces difficulty balancing cyclone inflation and devastation

If the country is to begin ‘futureproofing’ itself against more frequent climate change related flooding, the rebuild cost will rise dramatically – and that's worrying for Governor Adrian Orr. Andrew Patterson reports.

Newsroom.co.nz

Wages, Reserve Bank minutes to take the spotlight

The pace of wage growth will take centre stage, with the Reserve Bank hoping for a moderate reading that doesn't make its inflation challenge harder.

AAP

The Lowe road – the RBA is treading a 'narrow path' between inflation and recession

It’s a tough time for central bankers the world over, but especially for Reserve Bank of Australia governor Philip Lowe.

The Conversation

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ABC News

RBA boss Philip Lowe says rate rises hurting households, indications are they will go higher

Reserve Bank governor Philip Lowe has given a strong indication more interest rate rises are on the cards despite nine back-to-back rises causing many households significant pain and leaving them struggling to make repayments on their mortgages.

The Guardian - AU

Dozens re-detained after visa cancellation bill passes – as it happened

This blog is now closed

The Independent UK

Average long-term US mortgage rate jumps to 6.32% this week

The average long-term U.S. mortgage rate jumped this week to its highest level in five weeks, bad news for home shoppers heading into the spring buying season

AAP

RBA governor sticks to the script on future rate rises

Not spooked by an unexpected uptick in the headline jobless rate, the Reserve Bank has stuck with its hawkish stance on interest rates.

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The Guardian - AU

Afternoon Update: Unemployment rises to 3.7%; Queensland shooting declared terrorism; and the ‘perfect’ cosmic explosion

Jim Chalmers says there are ‘human consequences’ for slowing economy

The Independent UK

UK inflation falls again, raising hopes prices will plunge

Britain’s inflation rate fell for a third consecutive month in January, boosting optimism that the cost-of-living crisis has peaked and prices will fall sharply later this year

Daily Record

Cost of living pressure on household budgets remains as inflation falls to 10.1%

Money writer Linda Howard, answers your questions and comments on the impact of inflation on cost of living on February 16.

The New Daily

A lot of pain for inflation gains, RBA boss Philip Lowe tells Senate hearing

RBA boss Philip Lowe gave no clues about how many more mortgage bill hikes are coming in his first public remarks of 2023.

The Guardian - UK

UK inflation might be easing – but don’t expect prices to fall

With food inflation at 16.7% and cost of gas up 130%, poorer households are still bearing the brunt of the cost of living crisis

Evening Standard

Inflation falls again but remains close to 40-year high

The rate of inflation slowed slightly last month to 10.1 per cent, official figures reveal on Wednesday.

The Guardian - UK

UK inflation falls but remains in double digits at 10.1%

Official annual rate drops in January for third straight month, although households still under pressure

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