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The Latest Breaking News from RBA

Interest rate updates: RBA lifts cash rate by 0.25 of a percentage point to nine-year high of 2.85pc, NAB first to pass on — as it happened

The Reserve Bank lifted interest rates for the seventh month in a row, taking the cash rate to 2.85 per cent — as it happened.

ABC News

Banknote demand rising as Aussies hoard cash

Demand for banknotes is rising as more Australians keep cash on hand for "precautionary" reasons rather than in the bank.

The New Daily

Banknote demand rising as more hoard cash

More Australians holding on to high-denomination banknotes because they apparently want to keep cash close to hand, according to central bank data.

AAP

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ASX rises as Reserve Bank lift rates, Dow Jones posts biggest monthly surge in 47 years

Australian shares post significant gains as the Reserve Bank of Australia lift rates, while Wall Street's industrial index, the Dow Jones, records its biggest monthly gain since 1976.

ABC News

Instagram users locked out, police say attacker wanted to hold Nancy Pelosi hostage, and RBA to raise rates again — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happened.

ABC News

Australian home prices fall for six months in a row as interest rate rises bite

Home prices have been dropping over the past six months as the Reserve Bank of Australia has raised interest rates from a record low in May to curb red-hot inflation. And with interest rates set to keep rising, more falls are expected.

ABC News

RBA hikes interest rates 25 basis points

The Reserve Bank of Australia has hiked rates by another 25 basis points on Melbourne Cup day, adding to the pressure already felt by mortgage holders.

AAP

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ASX rises ahead of the Reserve Bank's anticipated rate hike; Wall Street, global shares advance

Australian shares rise, tracking overnight gains on Wall Street as investors await the Reserve Bank's interest rate decision due on Tuesday.

ABC News

RBA to pull trigger on seventh rate hike

The central bank is set to capture the headlines this week, with most experts predicting it will tighten monetary policy by another 25 basis points on Tuesday.

AAP

Rate rise expected on Melbourne Cup day likely to be followed by higher inflation outlook

Two of Australia’s biggest banks predict the Reserve Bank will revise the inflation rate to 8% – the highest since March 1990

The Guardian - AU

Reserve Bank reports record $40bn loss on government bonds purchased during Covid pandemic

RBA will likely not pay government dividends for years until negative equity of $12.4bn is restored and built up

The Guardian - AU

Banks forecast sharp interest rate hike

Mortgage holders are likely to see repayments jump even higher as the inflation dragon proves harder to slay than expected.

AAP

Why is the cost of living going crazy even as the Reserve Bank raises rates?

Overseas issues and a wildfire housing market have combined to drive inflation growth that hasn’t been seen for decades

The Guardian - AU

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

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ABC News

What does the federal budget deliver for business? Child care, skills and tax the centrepieces

Addressing skills shortages is the government's key budget focus to assist business, with tax stings in store for some multinationals, cash-in-hand businesses and investors.

Crikey

Swan’s way: are the treasurer’s plans shaped by his past?

Will Jim Chalmers — like his mentor, former treasurer Wayne Swan — pursue fiscal consolidation at the expense of unemployment and wages?

The New Daily

Petrol price spike looms for motorists, RBA comments on inflation

Motorists have a small window to fill up on cheaper petrol as many cities hit their first new fuel cycle after the fuel tax cut expired.

Pedestrian.tv

Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

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The Guardian - AU

Sydney’s property prices dropped 10% this year, with $450 a day lost from average home

Decline comes as RBA documents indicate values may sink as much as 20% nationally from their February peak by end of 2024

Crikey

The core message of the ‘budget’: households are being smashed

Will Australian households ever get back to real wages levels they ‘enjoyed’ last year? It’s not clear that will even happen this decade.

Crikey

Can a new treasurer bring fresh tricks to some very old problems?

With a second federal budget on the way, Treasurer Jim Chalmers has a chance to introduce some novel economic fixes.

AAP

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

The Guardian - AU

Australia’s jobless rate is steady as she goes – and so too is the economy

Unemployment has come in at 3.5% for the second month in a row. That’s good news for economic growth – if people have jobs, they’re more likely to spend

ABC News

How does the RBA set interest rates each month? Why was this month's decision a close call?

The Reserve Bank reveals its recent decision to slow down interest rate increases was "finely balanced" and explains the process by which it arrives at its monthly decisions.

The Guardian - AU

RBA rate rise ‘finely balanced’ with risk of slowdown but more increases still likely, minutes say

October meeting notes show Reserve Bank’s smaller hike took into account expected reduced growth due to global inflation

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