Inflation cooling to plan but fuel on RBA’s watchlist

20 September

The slowing pace of inflation was enough for the Reserve Bank to keep rates on hold at the last meeting, but the board was alert to surging petrol prices and other risks. The minutes from the September meetings revealed a level of comfort with the...[Read More]

Consumers still cautious following RBA pause

13 September

Consumer optimism has retreated again after staging a recovery over the past few weeks. The Reserve Bank’s decision to keep interest rates on hold was not enough to coax consumers out of their cautious state, with confidence levels falling 1.1...[Read More]

RBA keeps rates on hold as inflation passes peak

6 September

RESERVE BANK KEEPS RATES ON HOLD * The Reserve Bank board decided on Tuesday to keep the cash rate on hold at 4.1 per cent – the third such decision in a row after 400 basis points of hikes since May 2022. * The board says the series of rate hikes...[Read More]

Climate change complicates RBA’s job, new governor says

30 August

Climate change may force Australia’s central bank to adapt how it uses interest rates to keep inflation under control, the incoming governor warns. Michele Bullock, who is due to replace Philip Lowe as head of the Reserve Bank of Australia in...[Read More]

Consumers a touch more upbeat but still wary

30 August

Consumer confidence has recovered some lost ground but remains deeply in negative territory. The index collated by ANZ and Roy Morgan recovered 2.3 points to hit 78.1 points last week, with the robust labour market and the possibility of an extended...[Read More]

Chalmers plays down fuss over union push for RBA board

23 August

Treasurer Jim Chalmers doesn’t believe it’s “especially controversial” for unions to be considered for the board of the Reserve Bank. The powerful CFMEU moved a successful motion at Labor’s national conference last week amending the party...[Read More]

Reserve Bank minutes outline reasons for rate hold

16 August

RESERVE BANK BOARD MINUTES * Members agreed that the argument to leave the cash rate unchanged at this meeting was “the stronger one”. * They noted recent information on inflation had been encouraging, and the economy was expected to grow only...[Read More]

Consumer sentiment softens as businesses seek lifeline

16 August

Consumers are tightening their belts as living costs and interest rates rise, putting pressure on small businesses. A Commonwealth Bank of Australia report launched on Monday showed consumer spending growth declining nationally to 1.3 per cent in...[Read More]

Lingering price pressures plaguing businesses

9 August

The cost of running a business has jumped, as have the prices firms are charging, suggesting the inflation challenge still has some fight left in it. A survey of businesses conducted by the National Australian Bank recorded a sharp uptick in both...[Read More]

Behind the RBA board’s interest rate decision

2 August

RESERVE BANK KEEPS RATES ON HOLD The Reserve Bank of Australia board has decided to keep the cash rate on hold at 4.1 per cent at its August monthly meeting. WHY? * Four percentage points of rate rises since mid-2022 are working to balance supply...[Read More]

First female RBA governor to bring ‘reform agenda’

19 July

The first woman to fill the role of Reserve Bank governor is expected to bring a reform agenda to the institution and outline a fresh set of goals. Michele Bullock starts as head of the central bank in September, replacing Philip Lowe. Ms...[Read More]

RBA governor stresses slow productivity at G20 talks

19 July

The federal treasurer and head of the central bank have singled out sluggish productivity growth as a major problem at key G20 talks. Speaking at a meeting with other finance ministers and central bank leaders, Reserve Bank of Australia governor...[Read More]

Consumers are not buying RBA’s interest rate pause

12 July

Consumers are not convinced the Reserve Bank has finished hiking interest rates, despite leaving the cash rate unchanged last month. The mood as captured by Westpac and the Melbourne Institute every month soured further after the July rate pause,...[Read More]

Reserve Bank governor pledges ‘significant’ overhaul

12 July

Fewer meetings, post-decision press conferences and more board member interaction with staff have been given a tick by the governor of the Reserve Bank. Philip Lowe has signed off on a range of recommendations from an independent review released in...[Read More]

Reserve Bank declines to try its luck on 13th rate rise

5 July

WHAT WAS SAID ABOUT THE RATES DECISION: “A pause in the rate rises provides some small relief to workers out there doing it tough. We are still very mindful, however, that workers have fallen way behind.” – ACTU secretary Sally McManus “The...[Read More]