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The Latest Breaking News from RBA

White-knuckle wait for Tuesday’s latest RBA interest rate decision

Another close interest rate call is looming for the Reserve Bank amid persistent inflation and stagnant productivity growth

The New Daily

Michael Pascoe: No, the wage case shouldn’t panic the RBA

The FWC doesn’t want to turn the current rate of wage increases into something that will scare Phil Lowe & Co.

The New Daily

Home prices on the rise again, including regional Australia

Regional home prices are also going up in price.

Newcastle Herald

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BHP admits to underpaying workers, US House votes to suspend debt ceiling, ASX finishes higher — as it happened

Mining giant BHP has admitted to underpaying nearly 30,000 employees since 2010, while the ASX has closed higher after the US House of Representatives votes to suspend the debt ceiling.

ABC News

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.

The New Daily

‘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

The Guardian - AU

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".

ABC News

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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

The Guardian - AU

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.

ABC News

Australia’s inflation rate rose to 6.8% in April driven by energy prices but price pressures eased

Underlying inflation dropped to 6.5% in April from 6.9% in March, reducing the chances of another Reserve Bank rate rise in June

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 Guardian - AU

‘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 New Daily

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

This blog is now closed.

The Guardian - AU

Nationals leader defends use of consultants, police search for gunmen after Florida shooting, and hundreds flock to see dead nun — as it happened

This is The Loop, your quick catch-up for this morning's stories as they happened.

ABC News

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news in one place.

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ABC News

PwC stands down nine partners, chairman exits over tax scandal, ASX gains on US debt ceiling deal optimism — as it happened

After posting a weekly fall, the Australian share market has jumped at the start of trading, ahead of inflation data and the RBA governor speaking this week. Look back on the day's events and insights from our business reporters on the ABC News markets blog.

The New Daily

RBA chief Philip Lowe in the hot seat at Senate hearing as interest-rate decision looms

Philip Lowe will field questions from senators six days before the Reserve Bank of Australia announces its next decision on interest rates

The New Daily

Will the Reserve Bank hike interest rates in June? The big banks can’t agree

The prospect of another painful interest rate hike is looming over already stretched family budgets heading into June, but will the RBA actually push up

Crikey

We have passed another grim milestone in the upward journey of Australia’s rents

Rising rents are set to be the nation’s biggest source of inflation before much longer.

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The Guardian - AU

‘Significant turnaround’ in Australian house prices defies predictions as demand rises

CoreLogic says if increase is maintained, prices will be 4% higher at the end of 2023, defying forecasts of falls of 10% or more

The New Daily

Michael Pascoe: Why you might never see that ‘wage growth’ we hear about

One thing we know for sure about the RBA – it knows even less about the outlook for wage growth than it does about inflation.

The Guardian - AU

Housing prices gain pace as auction listings increase across Australia’s capital cities

CoreLogic researcher Tim Lawless says current spike in migration countering effect of Reserve Bank’s rate hike earlier this month

Crikey

With unemployment rising and wages limp, will the RBA finally shelve rate hikes?

More Australians are out of work and wages growth is stagnant, new data shows. It’s good news for inflation, but the national mood may not stomach it for long.

The New Daily

‘Significantly weaker’: Unemployment rise sparks fears for Australian jobs

A surprise uptick in unemployment in April has stoked fears the labour market may be starting to turn, as forecasts predict a jobs downturn.

The New Daily

Alan Kohler: The confusing, ridiculous state of economic forecasting

There was a time when we were sure that interest rates wouldn’t change for three years. That illusion was cruelly dashed a year ago.

The New Daily

‘Highly probable’: RBA tipped to hike interest rates in June after wage data

Economists are predicting another interest rates hike after wage growth rose in the March quarter, with risks around low productivity growth.

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