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The Latest Breaking News from RBA

Richard Denniss: Huge profits are driving inflation – not low-paid workers

The rhetoric of a ‘wage-price spiral’ is hardwired into Australia’s debates about inflation, but the reality is we are currently in a price-profit spiral.

The New Daily

Recession fears and high inflation top this week’s big market events

Federal Reserve chair Jerome Powell has acknowledged that steep interest rate hikes could tip the US economy into recession.

The New Daily

The Loop: An Australian quantum computing breakthrough, a mining industry sexual assault report, and which dog won Westminster's Best in Show

Get up to speed on today's headlines with The Loop.

ABC News

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ACTU Secretary Sally McManus says Reserve Bank in 'boomer fantasy land' over wage-price spiral fears

ACTU Secretary Sally McManus warns that the Reserve Bank is out of touch and living in "boomer fantasy land" if it thinks workers can afford real cuts to their wages.

ABC News

US recession, the economic flu we could all do without — fingers crossed

With a 44% chance of the US entering recession, what do we need to know about Australia’s chances of going the same way?

Crikey

ACTU slams RBA chief’s wage growth view

ACTU secretary Sally McManus says Reserve Bank governor Philip Lowe is living in a “fantasy land” when it comes to his view on wages growth.

Crikey

Dutton doesn't want RBA board compromised

ACTU secretary Sally McManus has criticised the make-up of the Reserve Bank board, but Opposition Leader Peter Dutton doesn't want to see a union leader on it.

AAP

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Regulators eye housing as rates increase

Australia's Council of Financial Regulators is keeping a close watch on developments in the housing market as interest rates increase.

AAP

As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

ABC News

RBA appoints new assistant governor

The Reserve Bank has appointed Bradley Jones as assistant governor for the financial system, replacing Michele Bullock who is now deputy governor.

Crikey

Philip Lowe’s fantasy world, where workers are in danger of getting decent pay rises

The RBA governor must be kidding himself if he truly believes Australian workers have a chance of getting a 5% pay rise.

Crikey

Souring confidence points to trouble ahead

The latest Westpac-Melbourne Institute leading index declined in May, but still shows the economy holding above its long-term trend.

Crikey

More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

The Loop: Aussies warned of holiday travel disruptions, International Rugby League bans transgender women, and boy hears for first time

Get up to speed on today's headlines with The Loop.

ABC News

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The New Daily

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

AAP

Early use of yield target a success: RBA

Reserve Bank governor Philip Lowe says the initial use of a bond yield target to keep funding costs low during the pandemic was a success.

Crikey

The curious, eccentric and slightly troubling world of the RBA’s sponsorships

Why does the Reserve Bank sponsor ideologically aligned think tanks? Is it because there are so few high-quality independent research bodies?

ABC News

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

The RBA admits it suffered "reputational damage" when it tried to wind back its COVID-19 pandemic stimulus program.

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AAP

RBA warns of damage from rising inflation

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

ABC News

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

The Conversation

The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

AAP

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

Crikey

Job gains give confidence modest lift

Consumer confidence gained a modest lift in the past week from rising employment, but concerns remain over inflation and interest rates.

The New Daily

Central bank decisions and global oil price falls top markets’ weekly agenda

Central bank decisions and global oil price falls top the weekly agenda for financial markets this week. Here are five things to watch.

ABC News

Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

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