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The Latest Breaking News from Phillip Lowe

An (ongoing) shitshow in the Shire, Aussies doing us ‘proud’ in the US, and RBA love letters

This week, we chronicle some of the (increasingly weird) Australian interventions in the US election, and check in on the Liberal machinations in the Shire.

Crikey

Daniel Andrews blames Victoria’s huge pandemic debt on RBA interest rates advice

Victorian premier says interest rates are ‘smashing families’ despite 2020 advice to national cabinet

The Guardian - AU

Hope builds for possible end to interest rate hikes

The Reserve Bank will be hogging the limelight this week with a nail-biter cash rate call and a public appearance from the governor Philip Lowe.

AAP

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As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

The government acknowledges a growing number of people making financial distress calls to crisis support hotlines, as the Reserve Bank governor says the mental health concerns of Australians weighs heavily on him.

ABC News

One thing the RBA is unlikely to disclose today is the truth about your falling wages

The central bank’s research finally concedes the truth about wages, but don’t expect its board to highlight it.

Crikey

Alan Kohler: RBA defence of interest-rate mallet highlights the truth about inequality

The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.

The New Daily

RBA urges mortgage holders to hunt down better deals

Reserve Bank officials say record high rates of refinancing are keeping average home loan rates relatively low.

AAP

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Q+A hears of harrowing cost of living struggles for Australians but politicians fail to offer any real relief

Politicians tell Q+A they see Australians begging for food and counting coins to buy bread but fail to offer any immediate solutions to rate rises or inflation on Q+A.

ABC News

'Nothing untoward' in RBA head meeting bankers: Shorten

Cabinet minister Bill Shorten has defended Philip Lowe's decision to give a private briefing to bankers about interest rate rises.

AAP

Treasurer says government's energy market intervention is already working to provide household relief

Treasurer Jim Chalmers tells ABC Insiders the federal government's intervention is putting downward pressure on electricity prices, and inflation remains the economy's greatest challenge.

ABC News

Chinese ambassador hails ‘very successful’ meeting – as it happened

This blog is now closed

The Guardian - AU

Finance Minister warns government must 'make room' to pay for aged care, defence and disability spending

The Finance Minister says the government will need to include "difficult" savings measures in its October budget, as cost of living pressures prompt some senators to call for the Reserve Bank boss to go.

ABC News

Regulating digital currencies

Some experts and central bankers point to regulation as the way forward. And supervising stablecoins and crypto exchanges would be a much easier affair than exercising controls over individual financial crypto products.

The Hindu

Profits push up prices too, so why is the RBA governor only talking about wages?

Reserve Bank of Australia governor Phillip Lowe has invoked memories of the 1970s, warning wage growth must be restrained to contain Australia’s surging inflation.

The Conversation

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The Guardian - AU

Anthony Albanese to meet EU president– as it happened

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The New Daily

Richard Denniss: Huge profits are driving inflation – not low-paid workers

The rhetoric of a ‘wage-price spiral’ is hardwired into Australia’s debates about inflation, but the reality is we are currently in a price-profit spiral.

ABC News

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

The New Daily

Central bank decisions and global oil price falls top markets’ weekly agenda

Central bank decisions and global oil price falls top the weekly agenda for financial markets this week. Here are five things to watch.

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Crikey

Public sector play key role in wage rises

Labor’s promise to grow wages would need to start with the public sector as the Reserve Bank flags a necessary shift in policy.

AAP

RBA's Lowe to speak, focus on Ukraine

Reserve Bank governor Philip Lowe will address a business conference on Wednesday, providing an opportunity to expand on his views on the Ukrainian conflict.

People

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