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The Latest Breaking News from Michele Bullock

RBA resists taking a punt on Melbourne Cup day rate cut

The Reserve Bank has not gambled on a Melbourne Cup rate reduction, with punters left to ponder whether borrowers will receive a windfall before Christmas.

AAP

RBA tipped to keep rates steady for 12th straight month

Interest rates have been kept on hold for almost a year and are broadly expected to stay there until cuts start in early 2025, provided inflation keeps easing.

AAP

The RBA will likely hold interest rates – but are its calculations at risk of being overtaken by US election chaos?

The first polls will be opening in the US not long after the RBA’s board meeting wraps up next Tuesday

The Guardian - AU

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WiseTech shares surge after CEO stands down – as it happened

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The Guardian - AU

Spring brings brighter outlook as rate hike fears fade

As signs of improving consumer and business confidence emerge, economists are speculating the Reserve Bank might be shifting its thinking on interest rates.

AAP

RBA minutes to paint picture behind interest rate call

More information on why the Reserve Bank chose to leave interest rates on hold for the seventh meeting in a row will be released on Tuesday.

AAP

IMF backs RBA not cutting interest rates and says phasing out tax breaks for property investors would be ‘equitable’

‘The RBA’s decision to maintain its restrictive policy stance in the near-term is appropriate,’ fund says in latest assessment report

The Guardian - AU

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Inflation may be falling but business’s drive to maximise profits fuelled Australia’s cost-of-living nightmare

A significant reason for the drop in inflation was the federal government’s energy bill relief fund and the rebates in Queensland, WA and Tasmania

The Guardian - AU

Politics with Michelle Grattan: Richard Holden says no interest rate fall likely for 12 months

For many Australians, the COVID-19 pandemic has become a fading memory as the world has moved away from lockdowns and masks. However, its lasting impacts, including persistent inflation, remain.

The Conversation

At 2.7%, Australian inflation is back within the RBA zone. Here’s why that matters

A closely watched measure of Australian inflation dived in the month of August, plunging from 3.5% in July to just 2.7%.

The Conversation

Australia’s annual inflation rate in August falls to lowest since 2021 at 2.7%

Lowest CPI rate in three years but Reserve Bank will wait for more sustained drop before cutting interest rates

The Guardian - AU

Rebound fears as energy help flicks switch on inflation

Federal energy bill relief has led to a drop in monthly inflation figures, but there are warnings the measures only caused an artificial reduction.

AAP

No talk of hikes, no cut on the horizon: why RBA thinks it’s in the ‘right spot’ with interest rates

There was good news and bad news as Australia’s central bank held the interest rate steady for the seventh time in a row

The Guardian - AU

No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

The Conversation

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The Guardian - AU

No cuts in ‘near term’ as RBA leaves Australia’s official interest rate unchanged at 4.35%

RBA decision was in line with economists’ forecasts as economy endures persistent inflationary pressures

The Guardian - AU

Reserve Bank expected to leave interest rate untouched for seventh meeting in a row

Economic activity was ‘a little bit softer’ than central bank had predicted, one expert notes, but a rate cut still seems unlikely

AAP

Rate cut delay bolsters case for experts on RBA board

The RBA's gradualist approach to tackling inflation has left it lagging the world on rate cuts and should make it reconsider its strategy, economists say.

The Conversation

Grattan on Friday: US rate cut puts pressure on RBA - and things could get heated

Reserve Bank Governor Michele Bullock might need her flak jacket when she fronts the media next Tuesday after the bank’s two-day board meeting.

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The Guardian - AU

Why is Labor trying to reform the RBA and why is Peter Dutton opposing the changes?

The Coalition has indicated it won’t support the reforms, which it says could let Labor allies take control of interest rates

The Conversation

Treasurer distances himself from his former boss’ Reserve Bank attack

Treasurer Jim Chalmers has distanced himself from the strident attack his one-time boss Wayne Swan launched on the Reserve Bank, which the former treasurer accused of “putting economic dogma over rational decision-making”.

AAP

Treasurer backs inflation target, despite rates risk

Jim Chalmers has acknowledged there's tension between fiscal and monetary policy, but argues the government and the central bank have the same objective.

The Guardian - AU

Despite all the doom and gloom on Australia’s economy, could the worst be behind us?

We hear about the ‘weakest growth in decades’ and being ‘smashed’ by the RBA, but positive tidings abound – if you want to look for them

AAP

Landlord's market as property investor lending swells

Lending to investors continues to lead the charge and outpace home loans taken out by owner-occupiers.

The Guardian - AU

No interest rate cut in the near term and you may have to sell your house: key takeaways from RBA governor’s speech

Selling would be bad news for struggling homeowners, but Michele Bullock likely thinks a long period of high inflation would be worse

The Guardian - AU

Severe weather warnings for parts of NSW and Victoria – as it happened

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