NEWS UPDATE
NEWS UPDATE
The Reserve Bank will shed further light on its decision to deny homeowners a further rate cut when it releases minutes from its last meeting earlier in November. Australia’s central bank kept interest rates on hold at 3.6 per cent after the meeting in a…
Hopes of more interest rate cuts have taken a hit after Australia’s unemployment rate plunged, reinforcing beliefs of a tight jobs market. Bonds traders lowered the odds of another Reserve Bank interest rate cut on Thursday and the ASX fell to its lowest level since…
Changes to interest rates could have less of an impact on household spending than traditionally thought, which means the Reserve Bank might have to hike or cut harder to achieve its aims. Despite the RBA hiking interest rates in one of its sharpest tightening cycles…
Whether Australia takes the road to prosperity or stays in the slow lane depends largely on fixing productivity, according to a top Reserve Bank official. Australia’s economy faces three possible paths forward, RBA deputy governor Andrew Hauser told a room of investors on Monday. And…
Job figures are set to take centre stage as economists continue to mull whether borrowers have seen their last Reserve Bank rate cut this cycle. In the first major piece of economic data since the RBA left interest rates on hold last week, the unemployment…
The Reserve Bank has drastically lifted inflation forecasts after admitting its last estimate was off the mark, likely ruling out rate cuts until late 2026 at the earliest. Released as its monetary policy board held interest rates steady on Tuesday, the RBA’s updated economic forecasts…
In the shock inflation print that scared the Reserve Bank off cutting interest rates at its latest meeting, two items gave governor Michele Bullock particular cause for concern. After the central bank kept the cash rate steady at 3.6 per cent on Tuesday, Ms Bullock…
Home owners are unlikely to receive further relief on interest rates for the rest of the year after a surge in inflation. The latest figures showed headline inflation for the September quarter rose from 2.1 per cent to 3.2 per cent. It was the first…
Central bank chiefs could set the table for an interest rate cut when they speak after a shock unemployment jump. Reserve Bank Governor Michele Bullock and key lieutenant Brad Jones will address events this week, a fortnight before they meet and ponder a fourth interest…
The Reserve Bank is in no rush to cut interest rates again, the minutes from its last meeting reveal, as it waits for more economic data to guide its next steps. The central bank is worried inflation may be stronger than expected, driven partly by…
Price rises in parts of Australia’s economy remain difficult to contain as businesses struggle under the burden of excessive red tape, top economic officials warn. Reserve Bank Governor Michele Bullock has used her appearance at a parliamentary inquiry to warn more work might be needed…
Falling spending on alcohol, tobacco and recreation has slowed Australia’s consumer recovery as the Reserve Bank mulls whether to cut interest rates again. Household spending grew 0.1 per cent in August, the Australian Bureau of Statistics revealed on Thursday, below consensus estimates of a 0.3…
It’s looking increasingly unlikely borrowers will get more mortgage relief in 2025 after the Reserve Bank of Australia’s most hawkish interest rate hold since it began cuts. Governor Michele Bullock refused to say whether the central bank was still on a downward path after its…
Mortgage holders might have to wait until next year for more rate relief after a sharp rise in services inflation all but killed off the already slim chance of a September cut. The consumer price index climbed from 2.8 to three per cent for the…
Australia’s productivity performance improved in the June quarter, but weak capital investment is still holding back growth in living standards, the Productivity Commission says. Growth in labour productivity – or doing more with less – accelerated to 0.3 per cent in the three months to…
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