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The Latest Breaking News from RBA

Why does the RBA want unemployment to go up? And what has it got to do with inflation?

The Reserve Bank deputy governor’s assessment that unemployment was ‘too low’ to tame inflation drew anger from unions. But was it correct?

The Guardian - AU

Alan Kohler: Time to revisit the Allan Fels system of price control – naming and shaming

It’s time to revisit the Fels system of price control.That is – put some resources into price surveillance, and name and shame the gougers.

The New Daily

House prices will keep rising into next year, says Domain, as immigration boosts demand

Sydney to lead recovery with 6% to 9% increase by next June while Melbourne, Adelaide, Perth and Brisbane will come close to or beat record highs

The Guardian - AU

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Afternoon Update: ‘Cause for hope’ in Titanic sub search; KFC hikes prices by up to 25%; and Taylor Swift tour info

US media reports cite government memos saying aircraft detected banging sound at 30-minute intervals

The Guardian - AU

Reserve Bank says Newcastle labour market 'tight', but it may not last long

Deputy governor Michele Bullock told a Newcastle industry lunch that unemployment would rise to help control inflation.

Newcastle Herald

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

The New Daily

‘Per capita recession’: Banks forecast longer downturn as more interest rate rises loom

Australia facing a multi-year per capita recession and even a quarter of negative economic growth in early 2024 with higher interest rates.

The New Daily

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‘Finely balanced’: June interest rates hike was sparked by fresh inflation fears, minutes reveal

The Reserve Bank's decision to raise interest rates to a fresh decade high in June was "finely balanced", minutes reveal.

The New Daily

RBA says decision to lift interest rate in June was ‘finely balanced’, easing expectations of further hikes

Minutes from RBA meeting on 6 June show the board was concerned about the ‘considerable uncertainty regarding the outlook for household spending’

The Guardian - AU

Renter confidence returns to all-time lows

Low vacancy rates and high demand for housing are sending rents sky-high and weighing heavily on the confidence of renters.

The New Daily

Faruqi says housing fund standoff ‘not about playing political games’ – as it happened

This blog is now closed

The Guardian - AU

RBA says jobs market too tight to control inflation

Australia has managed to engineer full employment but the extreme competition for workers risks keeping inflation higher for longer.

AAP

‘Mortgage stress’: New home owners squeezed hardest as repayments skyrocket

Many new homeowners could see half their incomes consumed by mortgage repayments in coming months as the RBA hikes rates.

The New Daily

Alan Kohler: RBA hasn’t broken its habit of making horribly wrong interest calls

Pessimists fearful of a Reserve-Bank trifecta of runaway inflation, massive unemployment and house-price collapse need to get a grip.

The New Daily

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The New Daily

More rate pain ahead? This week will provide some clues

The Reserve Bank's next move on interest rates remains shrouded in uncertainty but two senior officials may provide some clues.

AAP

Reserve Bank officials to shed light on rates pathway

Public appearances from top Reserve Bank officials will be worth watching following hawkish posturing from Australia's central bank.

The New Daily

The Ferguson Report: Trump threatens to govern from jail between golf rounds

The next President In Absentia of the United States, Donald Trump, has vowed to campaign and rule from jail.

The Guardian - AU

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

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The New Daily

Immigration key to Australia avoiding a recession, unlike NZ

If Australia is lurching towards a recession like the one neighbouring New Zealand is now suffering, there were few signs of it on Thursday.

The Guardian - AU

Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The Conversation

We know how to boost productivity and lift wages – but it will take time and much tougher tax reform

The slide in Australia’s labour productivity – real gross domestic product per hour worked – has become a real concern. In the past year, labour productivity has fallen 4.6%.

AAP

Reserve Bank underpaid almost 1200 staff

Some 1200 staff of the Reserve Bank missed out on wages they were entitled to due to an error calculating payments for leave.

The New Daily

Michael Pascoe: In defence of the RBA (no, seriously)

The RBA and whoever happens to be in government right now want unemployment up above 4 per cent to 4.25 or 4.5 per cent.

The New Daily

Wealth rises with $140 billion property price surge in early 2023

Australia’s housing market has surged by $140 billion in early-2023 amid an extraordinary rebound in property prices.

The Guardian - AU

Guardian Essential poll: voters trust Labor over Coalition to manage cost of living and inflation

Poll also shows support for government initiatives to regulate artificial intelligence

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