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

Philip Lowe says interest rate rises painful but for the best, predicting more to come

Inflation is dangerous, corrosive and hurts people, RBA governor tells Senate estimates

The Guardian - AU

RBA boss reveals ‘disturbing’ letters from families as mortgage bills skyrocket

Reserve Bank boss Philip Lowe has revealed he's received a series of "disturbing" letters from families about their financial hardships.

The New Daily

RBA boss Philip Lowe defends record bank profits as he flags further rate hikes

Philip Lowe says it is important in the long term to have "strong" banks that are turning a profit, even though it may be hard to hear for people in the grip of skyrocketing mortgage repayments.

ABC News

From analysis to the latest developments in health,
read the most diverse news in one place.

New off-budget funds won't fuel inflation: Treasury

The Treasury secretary has defended Labor's housing and infrastructure funds and says they won't necessarily fuel the short-term inflation problem.

AAP

Commonwealth Bank's half-year profit jumps to $5.2b

Australia's biggest lender has lifted its half-year cash profit by 9 per cent and lifted interim dividend by 20 per cent to $2.10 a share.

AAP

Two missing after Queensland mine collapse – as it happened

This blog is now closed

The Guardian - AU

Flawed RBA predictions have 'damaged credibility'

The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.

AAP

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Mortgage pain to intensify in 2023 as triple rate-hike looms: NAB economists

Australians must brace for interest rates to rise at least three more times in 2023 as the RBA fights high inflation.

The New Daily

Consumer confidence plummets as cash rate lifts

The latest cash rate hike has mortgage holders worried as consumer confidence plunges to its lowest level since April 2020.

AAP

Government receives strategic defence review – as it happened

This blog is now closed

The Guardian - AU

Brexit cost UK economy £29bn with investment ‘stopped in its tracks', Bank of England policymaker says

Jonathan Haskel said UK was an 'extreme outlier' when it comes to facing a slowdown in productivity

Insider UK

Four questions Philip Lowe and the RBA need to answer over interest rates

Further rate rises, Reserve Bank strategy, transparency and whether to extend Lowe’s term are likely to come under scrutiny

The Guardian - AU

The price Britain paid for lockdown was colossal. Was there an alternative?

Flirtation with recession, along with new era of austerity and stagnation are consequences of policy response to pandemic

The Guardian - UK

Jim Chalmers confident Australia will avoid recession despite warnings of more interest rate rises

The treasurer also noted ‘very encouraging’ signs on power prices falling, saying Labor’s energy price relief package was working

The Guardian - AU

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The Guardian - UK

Inflation may have peaked, but the cost of living pain is far from over

The fall in petrol and oil prices is helping bring down the inflation rate, but an uncertain jobs market urges caution

The Guardian - AU

Fines against WA climate protester ‘absurdly excessive’, Human Rights Watch says; refund for Myki charges during outage – as it happened

All the day’s news as it unfolded

The Guardian - UK

Generations of Tories have hoped for growth. They never plan for it

Kept aloft by North Sea oil or privatisations, the economy under the Conservatives never got the long-term vision it needed

The Guardian - UK

UK ‘not out of the woods yet’ after economy dodges recession by a whisker; Russia cuts oil output – as it happened

Latest GDP report shows that UK economy flatlined in final quarter of last year, while Russia is to cut oil production over Western price caps

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The Guardian - UK

UK can expect year of stagnation after narrowest of escapes from recession

Marginal expansions and contractions in 2023 will do little to solve a lack of investment and export shortfall

The Independent UK

Martin Lewis gives verdict on interest rate rise and what it means for mortgage holders

Money Saving Expert founder has shared his advice after Bank of England hiked rates to 4%

Birmingham Post

UK narrowly avoids recession as economy flatlines at end of 2022

New figures for the last quarter of 2022 show a tiny level of growth, avoiding a second quarter of decline that defines a recession

The Independent UK

UK ‘not out of the wood’ after narrowly avoiding recession

Bank of England still expects UK to enter ‘shallow’ recession

Evening Standard

GDP: No recession yet, but Britain’s not out of the woods

Break in Premier League games helps fuel economy slowdown

Daily Mirror

UK narrowly avoids recession for second time in a year but set for one in 2023

The figures come amid predictions that about one in four will be "unable to meet in full their planned energy and food bills from their post-tax income" in the 2023-24 financial year

The Guardian - AU

The RBA’s latest inflation and wage predictions help explain why Australia’s interest rate nightmare isn’t over

The main worry is workers might demand more pay, employers will pass that on to prices, and a wage-price spiral will take off

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