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The Latest Breaking News from Michele Bullock

Australia is about to get an economic health check. What do GDP figures mean and why are they important?

The numbers could mark the nadir in gross domestic product performance, while the RBA watches closely for cues to help time an interest rate cut

The Guardian - AU

Economy yet to turn a corner as higher rates bite

Australia is expected to post its slowest annual economic growth rate outside of the pandemic lockdowns since the 1990s as inflation persists.

AAP

Stand by for interest rate cuts: the US is about to start, so expect Australia to follow

Just three weeks ago, Reserve Bank Governor Michele Bullock declared interest rate cuts unlikely in the next six months. But if there was any doubt about what’s going to happen to global interest rates, the US Federal Reserve chair Jerome Powell removed it on Saturday.

The Conversation

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Interest rate cuts coming for the US. Will Australia’s RBA finally see the light?

Suddenly the inflation hawks who have previously written about how the Fed lifting rates ‘puts pressure’ on the RBA to do the same are nowhere to be seen.

Crikey

Meeting minutes to show RBA dancing to its own beat

Markets will turn their attention to the Reserve Bank's latest board meeting minutes but they might be better off looking further afield for new insights.

AAP

Australia’s productivity riddle – and what it might mean for interest rates

Michele Bullock keeps telling us productivity is flatlining. How it changes may well determine if the Reserve Bank will tolerate wage rises beyond 3%

The Guardian - AU

Cashless community still needs access to notes, coins

Cash may no longer be king but those who want to use it to buy a coffee or store wealth should be able to do so, the nation's payments tsar says.

AAP

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RBA downplays role of government spending in stoking inflation

Governor Michele Bullock cites consumer spending and China’s slowdown as bigger influences on Australia’s economic trajectory

The Guardian - AU

Indigenous murder inquiry ‘weak’

Critics say the Senate inquiry into missing and murdered Indigenous women and children has failed to make the bold recommendations required, and the RBA will face the House of Representatives today.

Crikey

Building costs in the frame for ongoing housing crisis

The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.

AAP

Politics with Michelle Grattan: Jim Chalmers flags deal on Reserve Bank’s new structure is close

Cost of living remains at the top of people’s minds as inflation stays sticky. With an election in less than a year, the government has been doing what it can to address some of the pressures. But the Reserve Bank doesn’t envisage an interest rate cut this year, and has…

The Conversation

The RBA poured cold water on an interest rate cut before Christmas – but its hawkish stance may make inflation even worse

It seems that the lessons of the past on issuing ‘forward guidance’ have been quickly forgotten

The Guardian - AU

Keating slams Albanese, AUKUS

The former prime minister says the defence pact will turn Australia into the ’51st state of the United States’, and Labor’s proposed childcare pay rise has summoned the inflation hawks.

Crikey

RBA ‘will not hesitate’ to raise interest rates again to combat inflation, Michele Bullock warns

Reserve Bank governor says there is ‘considerable uncertainty’ over Australia’s economic future and the board ‘remains vigilant’

The Guardian - AU

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AAP

RBA governor pours cold water on talk of early rate cut

The central bank says inflation remains too high and warned it could hike again, keeping the spotlight on government efforts to fight inflation.

The Guardian - AU

Commonwealth Bank still predicts interest rate cut in 2024 as RBA defends keeping cash rate on hold

Reserve Bank’s chief economist says it is ‘difficult’ to hear the stories of those who ‘are struggling’

Crikey

Interest rates hold steady… just

The Reserve Bank considered a rate hike but ultimately held firm yesterday, and Tim Walz is Kamala Harris’ new running mate.

The Guardian - AU

The RBA left interest rates on hold – but don’t get your hopes up for a cut any time soon

Governor Michele Bullock makes clear that any expectation of rate cuts this year ‘not aligned’ with bank’s present thinking

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The Conversation

The RBA says don’t expect interest rate cuts for 6 months. Here’s why it could be sooner

Days ago, at the start of last week, there was talk of a Reserve Bank rate hike.

The Guardian - AU

To hike or to hold? The case for each as RBA weighs interest rate decision

Inflation has been stubborn but the Reserve Bank has much to consider for its cash rate announcement at 2.30pm on Tuesday

AAP

Rates likely on hold with Reserve Bank coy on next move

The August interest rate meeting will dominate the week's economic agenda, with the Reserve Bank tipped to leave rates unchanged.

The Guardian - AU

There’s a huge amount riding on the latest inflation figures. Here’s why

The big four banks predict interest rates to be cut, but the RBA may have other ideas

The Conversation

Grattan on Friday: Eyes are on Sunday’s reshuffle but government’s fears are about Wednesday’s inflation number

After Thursday’s announcement that cabinet ministers Linda Burney and Brendan O'Connor were stepping down from the frontbench, all public attention came on to the reshuffle to be unveiled on Sunday.

The Guardian - AU

Households are hurting. Savings are weak. The future’s uncertain. Is a rate cut near?

While some like to suggest another hike is needed, the RBA is not so quick to dismiss the pain the economy is already feeling

AAP

Aust shares edge lower following RBA rate call hangover

The ASX200 has closed 0.1 per cent lower as markets reflect on a hawkish undertone in the Reserve Bank's interest-rate decision.

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