The Reserve Bank board will keep higher-than-expected inflation centre of its discussions when it meets again in a matter of weeks, with its chief economist warning of price pressures across the economy.
Adrian Lowe
Australia’s inflation is showing persistent strength and weighing heavily on the finances of some households, a senior Reserve Bank official says, highlighting the limits to further interest rate increases.
Swati Pandey
A new report has revealed the 10 areas of Australia where homeowners are most behind on repaying their loans, and where investors are most behind. Is yours on the list?
Inflation has come in hotter than usual over April on the back of higher new housing prices and an increase in food prices — suggesting interest rates will need to stay on hold for longer
A major global bank thinks cooling inflation and rising unemployment will lead the Reserve Bank of Australia to move on a rate cut by the end of 2024.
The Reserve Bank has revealed concerns about increasing rates too much amid an uncertain economic outlook as new surveys show what Australians are likely to do with their tax cuts due in July.
The minutes from the last Reserve Bank meeting will outline the thinking behind keeping rates on hold and how seriously the case to hike was considered.
Poppy Johnston
Unemployment across the country has again ticked higher, breaking the 4 per cent threshold as more people started looking for work amid a continued cost-of-living crisis and high interest rates.
Cheyanne Enciso
Interest rates are not directly responsible for pushing rent prices higher, the central bank’s chief economist says, and are just one of several factors that contribute to higher property prices.
Economists say the Treasurer’s cost-of-living measures make it more likely the RBA will need to keep rates on hold and too much new spending was included, blowing out the future budget deficit
There will be no interest rate cuts this year, one of the world’s leading credit agencies says, due to immense spending pressures in Treasurer Jim Chalmers’ Federal Budget.
Jim Chalmers is determined to press ahead with his overhaul of the Reserve Bank in the face of demands for some changes from the centre-right opposition, foreshadowing a prolonged stalemate.
Ben Westcott
The Federal Government is under renewed pressure to keep a lid on spending in Tuesday’s Budget after large State spending commitments sparked concern about the nation’s battle against persistent inflation.
Adrian Lowe and Katina Curtis
Australia’s interest-rate settings are ‘a bit too low’ to rapidly stamp out inflation, according to former senior Reserve Bank official Jonathan Kearns.
Jim Chalmers has downplayed suggestions the Federal Budget has the largest role to play for besieged households seeking cost-of-living relief after the RBA’s caution rates may have to stay on hold for longer.
Interest rates will be higher for longer. That’s the blunt, harsh reality of the latest economic expectations of the Reserve Bank of Australia in the “bumpy” last mile of getting inflation back to target.
Interest rates have been left on hold with the Reserve Bank of Australia keen to keep monitoring the economy despite higher-than-expected inflation this year.
RECAP: Some suggested that last month’s higher-than-expected inflation reading had increased the chances of one more hike. But the RBA has erred on the side of caution and kept the cash rate on hold.
Daniel Newell
Markets predict the RBA will hold fire on a Tuesday rate rise but persistent inflation and signs the Federal Government is loosening the purse strings give reason to keep up the pressure.
Matt Mckenzie
Australia’s central bank will likely keep its key interest rate at a 12-year high and stick with it for much of the year to restrain inflationary pressures underpinned by a surprisingly tight job market.
The RBA has been encouraged by yet another key global economic body to keep interest rates on hold to combat rising inflation, while the Federal Government has been urged to tackle lagging productivity growth.
Impending income tax cuts are a “real problem” for the Federal Government and may even pose a bigger threat to inflation than the Reserve Bank has factored in, economists say.
The Reserve Bank of Australia has been told interest rates may need to stay higher for longer to ensure inflation continues to slide and economic growth does not fall significantly.
Stubborn inflation, strong jobs growth, and a rebounding economy could force the Reserve Bank to deliver further rate hikes, economists have warned.
Jack Quail