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The Latest Breaking News from RBA

Afternoon Update: RBA’s rate hike surprise; higher tobacco taxes; and Serena Williams’ Met Gala reveal

Central bank raises cash rate by 25 basis points to 3.85% in defiance of most economists’ predictions

The Guardian - AU

‘Whiplash’: Mortgage bills to rise again as Reserve Bank signals inflation battle isn’t over yet

The Reserve Bank has resumed heaping pain onto Australian home owners, raising interest rates in May for the eleventh time in a year.

The New Daily

RBA interest rates: Reserve Bank increases official cash rate to 3.85% in shock decision

In a decision reached at its meeting today, Australia’s reserve bank will lift interest rates, causing further strain to borrowers

The Guardian - AU

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Reserve Bank hikes interest rates in May despite slowing inflation

The RBA has dashed hopes of another pause in interest rates, resuming hikes in May amid fears inflation - though slowing - is still too high.

The New Daily

RBA interest rate rise catches markets, banks and borrowers by surprise

The Reserve Bank of Australia shocks borrowers and financial markets by resuming interest rate rises after a one-off pause last month.

ABC News

'We have budgeted for the worst': RBA lifts cash rate

The increase lifts the cash rate to 3.85 per cent.

Newcastle Herald

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce

The RBA has surprised markets and economists by lifting interest rates to 3.85 per cent, after being widely predicted to stay on hold for a second month. Look back on the day's events as they happened with our blog.

ABC News

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Analysts predict RBA will leave cash rate at 3.6% for second consecutive month

But CBA, the nation’s largest mortgage lender, thinks a rise to 3.85% is likely before cuts start in November

The Guardian - AU

Australians have been scared off loans – and that’s exactly what the RBA wants

The majority of Aussies have been spooked off of loans and have lost faith in the decisions of the RBA, research shows.

The New Daily

‘Line ball’: Experts split as RBA mulls pivotal interest rates call amid rising mortgage stress

Experts are split on whether the Reserve Bank will return to hiking interest rates at its May meeting this week.

The New Daily

Greens announce plans to introduce bill to federal parliament to freeze rents and interest rates before budget announcement

Their proposal would see the federal government work with states and territories to freeze rent increases nationwide.

ABC News

Michael Pascoe: How the RBA is making inflation worse

Is there a better example of the deficiencies of monetary policy than the RBA prolonging higher rent inflation by lifting rates to theoretically reduce inflation?

The New Daily

Paul Keating warns treasurer not to remove government's power to override RBA decisions

Former prime minister Paul Keating says it would be an error for the Parliament to remove a power that allows the government to overrule the Reserve Bank's actions.

ABC News

Morning Mail: migration system is ‘broken’, Donald Trump accused of rape, Sydney’s ‘latte line’ deepens

Australia’s 1.8 million guest workers are pushed to stay ‘permanently temporary’, review says

The Guardian - AU

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The Guardian - AU

Inflation is coming back down, but Australia’s renters are still feeling the pain

High prices are hurting renters and low-income households

The Guardian - AU

Labor should use its ‘power for the people’ and lift jobseeker, former RBA governor says

Bernie Fraser has joined the chorus of calls to raise rates as Labor MP warns ‘we may not get a second chance’

The New Daily

‘Peaked’: Small relief from slowing inflation as rents and utility bills soar

Inflation has begun easing as goods prices fall, but the cost of living crisis isn’t over yet as rising rents and utility bills hit families.

The New Daily

Workers should be on the Reserve Bank of Australia’s board

These representatives bring expert knowledge of how the real economy works and labour market operations. Workers must have a say.

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The Guardian - AU

Latest economic figures show Australia’s inflation easing ahead of RBA interest rate decision

The consumer price index for the first three months of 2023 has come in at an annual rate of 7%, down from the 32-year high of 7.8%

The New Daily

Inflation eases to 7 per cent – but still too high for RBA

Official inflation data shows consumer prices rising seven per cent annually in the March quarter, down from 7.8 per cent in the previous quarter.

ABC News

Quarterly inflation is expected to ease, but the Reserve Bank may still lift interest rates

Even if inflation eases, a leading economist and strategist believes today's consumer price index figures will give the Reserve Bank of Australia reason to resume its rate-hiking cycle at its next meeting.

Newcastle Herald

A bastard's tale worthy of the Anzac legend

Apart from its historical significance, it's a rollicking good yarn.

The Guardian - AU

RBA review has ‘opened the door’ to moving away from inflation focus, panellist says

Renee Fry-McKibbin says panel considered ‘a lot of alternative frameworks’ but decision on shift would fall to future reviews

AAP

RBA rate calls still face potential parliament veto

The RBA's reviewers have called for greater independence for the central bank but say the government will still be able to step in if the board goes rogue.

The New Daily

If the RBA were a company, the governor would be out of a job

If the RBA were a company, the board would have and should have sacked Philip Lowe long ago. But they couldn’t; they knew it and he knew it.

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