NEWS UPDATE
NEWS UPDATE
The Reserve Bank of Australia faces growing pressure to raise interest rates again on November 3 after core inflation climbed one per cent in the latest quarter. The September quarter increase in the trimmed mean was in line with economist expectations but exceeded the central…
Mortgage holders can expect interest rates to stay higher for longer, whether or not the Reserve Bank raises them again on Melbourne Cup day. The RBA has been warning that the intense competition for global capital among artificial intelligence and data centre companies is pushing…
Unemployment data will give the Reserve Bank an idea of how its interest rate hikes are affecting Australia’s economy, as a readout of its last meeting informs economists of its thinking. The Reserve Bank’s decision to raise the cash rate to 4.6 per cent in…
Inflation is expected to stay above the Reserve Bank’s target range until the end of 2027, with only six other developed countries having a higher rate than Australia’s. The extended period of high inflation has left the door open for more interest rate hikes. Australia’s…
Australians face “recession-like” conditions as the nation’s increasing reliance on population growth over productivity catches up with policy-makers. The economy is likely to avoid a technical recession, defined as two consecutive quarters of contraction, but it won’t feel like it to Australian households, Deloitte Access…
Australian households are the most persistently pessimistic they have been since the early-1990s recession, after a fourth Reserve Bank rate rise. Following the RBA’s decision to lift interest rates to the highest level since 2011, confidence among Australian consumers plunged about 20 per cent, according…
Cash-strapped borrowers are being warned of more hikes to come by the Reserve Bank of Australia after it lifted interest rates to a 15-year high. In a unanimous decision, the central bank’s nine-member board lifted the cash rate target by 25 basis points to 4.6…
Australia’s annual headline inflation rate has climbed to four per cent as higher oil prices continue to filter through the economy. The consumer price index rose 0.4 per cent in August, the Australian Bureau of Statistics reported on Wednesday, a day after the Reserve Bank…
Because everyone wants your money, you can charge them more for it. That’s the issue facing governments forced to pay investors more for borrowing cash in the form of bonds. The eye-watering sums being raised by artificial intelligence “hyper-scalers” now mean there’s a flood of…
Australia’s unemployment rate probably needs to edge a little higher to help get inflation back under control, Reserve Bank governor Michele Bullock says. Prefacing her remarks by saying the RBA does not want to see high unemployment, Ms Bullock told a business event on Tuesday…
Economists at one of Australia’s big four banks expect the Reserve Bank to raise interest rates imminently after the central bank’s governor issued a dire warning about inflation. Michele Bullock told a parliamentary hearing in Canberra that it appeared that inflation was worse than the…
A global financial body has given the Reserve Bank the green light to hike interest rates and urged Treasurer Jim Chalmers to be bolder on tax reform. With a break-out in price growth hitting Australians’ living standards, returning inflation to target in the near term…
The rising cost of oil and iPhones is concerning the Reserve Bank of Australia as it approaches a crucial interest rate decision, the central bank’s chief economist says. With rising inflation pressures from the Middle East and more broadly around the globe, the Reserve Bank…
Australians are “furious” about inflation and it will take the nation years to fully get on top on higher post-pandemic living costs, the Reserve Bank’s deputy governor says. Ahead of the central bank’s meeting later this month on interest rates, Andrew Hauser said inflation remained…
The Reserve Bank might have to raise interest rates if inflation is higher than expected as oil prices surge back towards $US100 a barrel. More attacks on oil tankers in the Strait of Hormuz drove Brent crude above $US97 a barrel, which will seep into…
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