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The Latest Breaking News from RBA

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

RBA governor faces second hearing, ASX sheds 0.8 per cent

The ASX200 drops 1.2 per cent over the week, and RBA governor Philip Lowe faces second hearing in Canberra

ABC News

RBA governor sticks to the script on future rate rises

Not spooked by an unexpected uptick in the headline jobless rate, the Reserve Bank has stuck with its hawkish stance on interest rates.

AAP

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ACCC asking why banks are slow to lift interest rates on savings accounts

The landscape for Australian savings rates is changing fast as banks begin to relent after the RBA’s February interest rate hike.

The New Daily

Employment rates are ‘tracking sideways’, experts say, on January data

A New Year's rise in unemployment has sparked debate about whether cracks are appearing in the labour market.

The New Daily

Australia’s unemployment rate climbs to 3.7% in January, higher than economists expected

Succession of interest rate rises by the RBA trims jobs growth as unemployment jumps to its highest level since May 2022

The Guardian - AU

Unemployment rate jumps from 3.5 per cent to 3.7 per cent in January figures

Australia's unemployment rate increases over the summer break, lifting from 3.5 per cent to 3.7 per cent in January's figures.

ABC News

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If parking in the city was fine, we wouldn't need tickets - or rangers

The council parking rangers are only doing their job. It is what they are paid to do.

Newcastle Herald

More light and less heat would be appreciated at Philip Lowe’s next grilling on Friday

Lost in the questioning from hostile senators was much insight into why the Reserve Bank wants to keep raising rates

The Guardian - AU

The RBA’s predictions are so dire it’s no wonder people are less confident than they were when the pandemic hit

To survive the next two years of economic growth as predicted without tipping into a recession would be astonishing

The Guardian - AU

A lot of pain for inflation gains, RBA boss Philip Lowe tells Senate hearing

RBA boss Philip Lowe gave no clues about how many more mortgage bill hikes are coming in his first public remarks of 2023.

The New Daily

Philip Lowe has a good game face. If he has any doubts over his decisions, they aren’t showing

The RBA governor came to Senate estimates armed with messages he wanted to convey and an inclination to avoid all trapdoors

The Guardian - AU

Australia’s banks are not a source of economic dynamism but a drag on our economic and social welfare

The financial sector is not contributing as much to the national economy as it takes out

The Guardian - AU

How high will Lowe go? Five things we learned from RBA governor’s parliament appearance

Philip Lowe tells Senate estimates that interest rates must keep rising to tame ‘corrosive’ inflation – and he is not resigning

The Guardian - AU

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AAP

Strong bank profits a 'positive', says RBA boss

The Reserve Bank governor has defended robust profits made by banks and says higher rates will eventually start eroding their earnings.

The Guardian - AU

Philip Lowe says interest rate rises painful but for the best, predicting more to come

Inflation is dangerous, corrosive and hurts people, RBA governor tells Senate estimates

The New Daily

RBA boss reveals ‘disturbing’ letters from families as mortgage bills skyrocket

Reserve Bank boss Philip Lowe has revealed he's received a series of "disturbing" letters from families about their financial hardships.

ABC News

RBA boss Philip Lowe defends record bank profits as he flags further rate hikes

Philip Lowe says it is important in the long term to have "strong" banks that are turning a profit, even though it may be hard to hear for people in the grip of skyrocketing mortgage repayments.

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ABC News

Million households 'vulnerable' to rising interest rates, and their cuts could cause recession

A prominent economist now puts the risk of recession at 50 per cent, as households face the prospect of making substantial spending cuts to meet rising home loan repayments.

AAP

Flawed RBA predictions have 'damaged credibility'

The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.

The Guardian - AU

Interest rates could peak at 4.1% amid sinking consumer confidence in Australia, says NAB

Major bank believes business conditions and confidence are improving as it sets cash rate prediction higher than other banks

The New Daily

Mortgage pain to intensify in 2023 as triple rate-hike looms: NAB economists

Australians must brace for interest rates to rise at least three more times in 2023 as the RBA fights high inflation.

AAP

Consumer confidence plummets as cash rate lifts

The latest cash rate hike has mortgage holders worried as consumer confidence plunges to its lowest level since April 2020.

ABC News

China's economy is recovering — is that a good thing for Australians faced with surging prices?

China's rebounding economy is set to have ramifications for Australia — both good and bad — and could exacerbate our cost-of-living issues.

ABC News

Middle-income families hit hard by inflation, interest rates could sink the economy

As interest rates rise and other cost-of-living pressures increase, middle-income households that had been living comfortably are pulling back on spending, which has big implications for the economy.

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