RBA
Australians are ‘furious’ about inflation: RBA deputy
9 September
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...[Read More]
AI boom, productivity malaise making RBA’s job harder
19 August
The surge in artificial intelligence investment and Australia’s sluggish productivity growth rate are forcing the Reserve Bank to keep interest rates higher, a top central bank official says.Speaking two days after the RBA kept the cash rate...[Read More]
Jobs data tops economic agenda as Iran war re-escalates
22 July
Jobs data is expected to show ongoing resilience in Australia’s labour market but renewed conflict in the Middle East could bring more bad news for the domestic economy. The unemployment rate is expected to hold steady at 4.4 per cent in June...[Read More]
Freefall: home prices notch biggest drop in years
1 July
Home prices have recorded the biggest monthly fall in almost four years as tax changes accelerate Australia’s housing downturn. Sydney’s median home price fell 1.2 per cent to $1,265,608 in June, leading a nationwide decline of 0.4 per cent,...[Read More]
Strong jobs figures clock on for future rate rise shift
1 July
Stronger-than-expected jobs and spending data has bolstered the case for more rate hikes, but events overseas could stay the Reserve Bank’s hand. An extra 40,300 jobs were added to the economy in May, driving down the unemployment rate to 4.4 per...[Read More]
Labor shrugs off claim tax shift will sink house prices
3 June
Contentious changes to taxes on property investments won’t be the main driver of expected falls in prices, the housing minister says. As auction clearance rates hit lows not seen since the COVID-19 pandemic, Clare O’Neil said it was unclear how...[Read More]
Jobless jump, Iran war shoot down fears of rate rise
27 May
The likelihood of a rate hike in June has shrunk after a surprise jump in the unemployment rate showed the Iran war is having a material impact on Australia’s economy. While bad news for workers, the rise in the jobless rate from 4.3 per cent to...[Read More]
Credit card points schemes in firing line after tweaks
8 April
Overseas trips and hotel stays funded through credit reward schemes could be in trouble as Australia’s central bank cuts fees on card transactions. The Reserve Bank has revamped card usage by banning surcharge payments and cutting interchange...[Read More]
Spike in jobless rate unlikely to end RBA hiking cycle
25 March
Noisy jobs data has revealed a tight labour market, giving the Reserve Bank the green light to further hike interest rates despite a spike in unemployment. The jobless rate jumped to 4.3 per cent in February, despite almost 50,000 more people...[Read More]
Confidence tanks as fuel spike flows to building costs
25 March
Australian consumers are the least confident they’ve been since records began, as high oil prices threaten to worsen the housing crisis by pushing up building costs. Motorists have already been feeling under the pump from petrol price...[Read More]
Vested interest ‘cartel’ killing Aussie housing dream
25 February
A “cartel” of vested interests is stymying crucial tax reforms which could help free up more homes, a former boss of the Reserve Bank says. Bernie Fraser, the only person in Australian history to have served as both RBA governor and Treasury...[Read More]
Labour pains for borrowers as jobs data hits rate hopes
25 February
Ongoing strength in the nation’s jobs market has lifted the change of another interest rate rise in the coming months, experts warn. Australia’s unemployment rate held steady at 4.1 per cent for January with nearly 18,000 jobs created, according...[Read More]
RBA urges more high-rise amid home-building constraints
18 February
Governments are making the right moves on housing affordability but builders are still finding it “very challenging” to bring on new supply, RBA governor Michele Bullock says. Speaking at a second parliamentary hearing in less than one week, Ms...[Read More]
Reserve Bank boss calls on businesses to invest smarter
11 February
The Reserve Bank governor has called on businesses to help lift Australia’s sluggish productivity growth as she tries to bring inflation under control. Facing a string of questions about the government’s role in driving up inflation at a...[Read More]
Healthy jobs market spells rate pain for borrowers
28 January
Analysts are warning mortgage holders an interest rate rise could be just weeks away, after surprisingly strong jobs figures heightened the Reserve Bank of Australia’s concerns about inflation. Forecasters were taken off guard by the resilience of...[Read More]