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The Latest Breaking News from Philip Lowe

Afternoon Update: Greens and Coalition attack Labor after rate rise; strategic Ukraine dam destroyed; and a rare wolverine spotted

Political reactions came swiftly from all sides after the RBA raised the cash rate

The Guardian - AU

Australian central bank boosts cash rate to 4.1% with 12th hike

Australia’s central bank has lifted its benchmark interest rate for a 12th consecutive time to 4.1% and warned further rises could follow

The Independent UK

‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

The New Daily

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Interest rates hiked in June: RBA moves to 4.1 per cent amid fears about inflation plan

The Reserve Bank raised interest rates another 0.25 percentage points in June and has signaled more could be on the horizon.

The New Daily

RBA interest rates: Reserve Bank increases cash rate by 25 basis points in attempt to quash inflation

RBA decision to raise Australia’s cash rate by another 25 basis points brings the official rate to 4.1%, its highest level in 11 years

The Guardian - AU

A very Philip Lowe guide to making a not-inevitable recession inevitable

The Reserve Bank governor is making sense of a confused economy by stifling the emergence of a new one.

Crikey

No signs of recovery among despondent consumers

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

The New Daily

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Economists split over prospects of another rate rise ahead of RBA meeting

Despite 11 hikes in the cash rate since last May, some forecasters think the central bank could still raise borrowing costs again

The Guardian - AU

Worst mortgage stress since GFC as Reserve Bank board ponders rates hike

Another 30,000 Australians could be thrown into risk of mortgage stress if the RBA raises interest rates again.

The New Daily

More people than ever are looking for a flatmate, with more 55+ people searching

While Philip Lowe says he wants more people in dwellings, data from house sharing site Flatmates says this is already happening as cost of living and inflation continue to bite Aussies hard.

ABC News

Get a housemate? It sounds silly, but might be the reality until Labor and the Greens can build some homes

Philip Lowe has become an easy target for struggling renters. But he can’t fix the housing crisis

The Guardian - AU

Afternoon Update: Ben Roberts-Smith result lauded as win for journalism; Pauline Hanson in court; and Australians flocking to Townsville

Australia’s most decorated living soldier has lost his defamation case against the Nine newspapers.

The Guardian - AU

Landing Australia’s inflation crisis may be bumpier than expected

That brief feeling of economic optimism you had? Maybe put it on hold. A smooth, steady fall in inflation isn’t on the cards for Australia just yet.

Crikey

‘Ropeable’: Treasurer says PwC partners will be named ‘in time’

Treasurer Jim Chalmers says he is "ropeable" about the PwC tax scandal and that the names of those involved will be made public "in time".

The New Daily

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The New Daily

Alan Kohler: Why the RBA thinks if there must be a recession, there will be a recession

The implication of what Philip Lowe said is that unless productivity improves fast, there will have to be a recession.

ABC News

National property price rebound gathering pace despite interest rate rises, with Sydney leading the recovery

National house prices lifted sharply in May, according to data from CoreLogic. Sydney continues to lead the recovery, with rises across the capital cities, as the number of properties advertised for sale fell further.

The Guardian - AU

‘I’m obviously not first choice’: rental crisis forcing older Australians back into share houses

As the vacancy rate drops to 1.2%, the Reserve Bank chief advises renters to consider sharing – but that is a very difficult option for many people

ABC News

Treasurer Jim Chalmers says naming of PwC partners placed on leave will happen 'in time'

Treasurer Jim Chalmers says the naming of partners at consulting giant PwC involved in misusing confidential government information will happen "in time".

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The Guardian - AU

Afternoon Update: RBA governor suggests more share houses; inflation rises; and vapour blasts from a Saturn moon

Underlying inflation and price pressures easing, shrinking the likelihood of another RBA rate hike on Tuesday

ABC News

Higher rents will help reduce rental stress by encouraging people to 'economise' on housing, RBA governor says

The RBA governor says strong population growth is exacerbating Australia's housing crisis and we need more people to live in each dwelling.

The New Daily

Pain at petrol pump drives surprise jump in inflation

Petrol prices have driven a surprise jump in inflation, as RBA governor Philip Lowe flagged more pain to come for millions of Australians.

The Guardian - AU

Philip Lowe ‘appalled’ by PwC scandal but says firm will continue to audit Reserve Bank

At an estimates hearing on Wednesday, RBA governor also repeats the bank’s commitment to raising interest rates to reduce inflation

The New Daily

‘Destroys trust’: Philip Lowe reveals RBA hired embattled PwC over staff underpayment scandal

Reserve Bank boss Philip Lowe has confirmed the central bank has underpaid staff, revealing embattled consultancy PwC was hired to help.

The Guardian - AU

Queensland LNP criticised for ‘failure of leadership’ on voice – as it happened

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ABC News

Why Australian households are divided when it comes to financial pressure, and economists are divided on the outlook

Economists are divided on how well households will weather the storm of rent rises, soaring home loan rates and rising prices, just as Australians are divided in how much financial pressure they're under.

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