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The Latest Breaking News from Philip Lowe

Energy profiteering not quite as detached from the main economy as we’re told

The RBA says wages are a threat to inflation, but not energy sector profits. Construction materials giant Boral’s results tell a different story.

Crikey

Philip Lowe’s final inquisition leaves out some tough questions

More scrutiny of the outgoing RBA governor’s views on interest rates, profit-gouging and rent controls would have been welcome at his final appearance before parliament

The Guardian - AU

PM won’t make journalist’s release a condition of trip – as it happened

This blog is now closed.

The Guardian - AU

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Matt Comyn rakes it in at the CBA — but what about Josh and Phil?

The Commonwealth Bank wants a brighter future for us all, but chiefly its shareholders and senior executives. The rest of us can make do.

Crikey

Households buckle under pressure, retail sales plunge to three-decade low

First annual fall in retail sales volumes since 1991, except for pandemic.

The Canberra Times

Think today’s labour markets are tight? Wait a decade, Phil

Health and care are our biggest sources of employment and of jobs growth, spelling trouble for economists who think in traditional terms.

Crikey

RBA interest rates: Australian borrowers given reprieve as Reserve Bank pauses again

The RBA has left the official cash rate on hold at 4.1%, the highest level since 2012, in line with investors’ expectations

The Guardian - AU

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Australia’s falling inflation means interest rates have peaked? Don’t bank on it

Yes, consumer price growth has been on the skids since December and was only 5.4% for month of June. But beware inflationary clouds on the horizon

The Guardian - AU

It’s gold for Dan Andrews! Commonwealth Games should now be a thing of the past

The Victorian premier’s decision to cancel his state’s 2026 games was a good and righteous one, Crikey readers say.

Crikey

Lowe's interest rate missteps were costly ones for many Australians

How difficult can it be?

Newcastle Herald

Australia is on the brink of ending interest rate hikes and an economic first – beating inflation without a recession

What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession.

The Conversation

Labor takes a hit in poll

Labor has lost its huge lead in voter land and now sits at 36% to the Coalition’s 34%, according to the latest Newspoll, and Jewish students in Victoria’s public schools have been targeted with anti-Semitic bullying.

Crikey

Easing global inflation story takes pressure off rates

Moderating inflation around the world could help the Reserve Bank build the case for an extended pause on interest rates.

AAP

'I have a mountain of respect' for Lowe: Treasurer

Treasurer Jim Chalmers is unable to say if inflation can come back down without a rise in unemployment but declined to comment on the RBA's July rate decision.

AAP

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The Guardian - AU

Hundreds charged after NSW domestic violence operation; South Australia moves to ban no cause evictions – as it happened

This blog is now closed.

AAP

Jobs data will be big ticket item for rates outlook

The official jobless rate could start to show some signs of lifting, as domestic economic conditions continue to deteriorate and weigh on hiring decisions.

The Guardian - AU

Michele Bullock spells continuity at RBA – but respite unlikely for borrowers

The new chief was one of the board members raising interest rates, but has been brought in to reform the central bank

The Guardian - AU

Why was Philip Lowe not reappointed as RBA governor? We can rule out interest rates as a reason

Lowe made three key mistakes – targeting house prices before the pandemic, misleading about future rate rises and ignoring cultural problems within the RBA

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The Independent UK

Australia appoints first female governor in central bank’s history

Michele Bullock will start her seven-year term as Reserve Bank of Australia governor this September

The Guardian - AU

Afternoon Update: cautious welcome for new RBA governor; Peter van Onselen loses case; and watch Fran Drescher’s fiery Hollywood strike speech

Labor hails appointment of first female Reserve Bank boss as ‘historic moment for Australia’

The Guardian - AU

RBA lifer Michele Bullock may have the luck of playing good cop to Philip Lowe’s bad

The Reserve Bank of Australia’s first female governor will begin her appointment at or very near the end of the cycle of rate rises

Al Jazeera

Australia names first woman to lead central bank

Michele Bullock will take over as governor of the Reserve Bank of Australia in September.

The Conversation

Meet Michele Bullock, the RBA insider tasked with making the Reserve Bank more outward-looking as its next governor

Australia’s next Reserve Bank governor, Michele Bullock – the first woman in the job – will take office in September at a time when much of the bank’s work in fighting inflation will be done and its focus will be on changing the way it operates.

The Guardian - AU

Michele Bullock: what you need to know about the RBA’s new governor

The Reserve Bank ‘lifer’ will succeed Philip Lowe in the top job. Who is Michele Bullock and what has been the reaction to her appointment?

Crikey

Who is Michele Bullock? The central bank veteran who’ll lead the RBA to 2030

Michele Bullock, the first female Reserve Bank governor, is an RBA lifer from the payments system side of the bank.

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