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The Latest Breaking News from Michele Bullock

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

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

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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

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

It’s easy to see why Michele Bullock thinks temporary measures should be disregarded.

Crikey

Rates on hold as Labor considers changes to negative gearing

The RBA shocked nobody by holding interest rates at 4.35% yesterday, but the Albanese government may have surprised some by seeking advice on scaling back negative gearing.

Crikey

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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

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

The Guardian - AU

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.

AAP

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.

The Conversation

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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

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Crikey

Bullock doubles down on interest rates

RBA governor Michele Bullock is standing by her board’s interest rate decisions, and Donald Trump and Kamala Harris agree on a set of rules for next week’s presidential debate.

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

Crikey

All eyes on Bullock following weak growth

Reserve Bank governor Michele Bullock is expected to respond to sluggish economic growth today, and backlash about the government’s census questions continues.

The Guardian - AU

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

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AAP

Fading economy yet to unlock rate cuts for watchful RBA

The economy might be slowing but the Reserve Bank chief wants inflation to moderate further before opening the door to interest rate cuts.

The Guardian - AU

Now the Australian economy is on its knees, will the RBA finally start cutting interest rates?

So far we have not gone into recession – but only because our population has grown and the government has kept spending

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