The Latest Breaking News from Reserve Bank

The Reserve Bank of Australia is facing a major overhaul that would change how interest rates are set after a review into its future.

The long-awaited independent review of the Reserve Bank commissioned by Treasurer Jim Chalmers will be released on Thursday, with the treasurer already flagging in-principle agreement with all its recommendations.

Australia's mining sector has generated windfall profits over the past two years, the result of dramatically higher prices for fossil fuel energy, but has it driven inflation?

In episode 2 of Raw Politics: Jacinda Ardern's final farewell from Parliament, the Reserve Bank's hawkish interest rate move and the gentle crackdown on lobbyists.

The local share market has snapped its eight-session winning streak but still managed a gain for the week. Here's how the day's events unfolded, with insights from our business reporters.

Mexican standoff: Desperate to hold onto their lending share in a declining property market, banks have ignored Reserve Bank pressure to raise mortgage interest rates. But the standoff must end. Brokers reckon the first of the banks will blink next week. You can see the whites of their eyes, writes Jonathan Milne.

The Reserve Bank boss warns households to brace for more interest rate rises, especially if businesses keep putting up prices or workers demand bigger pay rises.

The Reserve Bank has kept interest rates on hold but a public appearance from the bank's boss could shed some light on the likelihood of more hikes.

After 10 consecutive rises, the Reserve Bank has pumped the brakes on interest rates — much to the relief of mortgage borrowers and Lifeline, which has seen more first-time home owners suffering financial distress.