The Latest Breaking News from Reserve Bank

Pressure is mounting on the federal government over tax cuts, amid support for super changes and ahead of another interest rate rise.

The Reserve Bank is expected to hike interest rates again this week and turn up the heat on already stretched household finances.

The Reserve Bank says it’s fighting a war on inflation, but it could easily be construed as a war on the average Australian.

Australian Bureau of Statistics figures show the domestic economy expanded by 0.5 per cent in the fourth quarter, which was softer than expected.

Online shopping on the chopping block as households cut discretionary spend.

Cyclone Gabrielle’s trail of misery and destruction presents a major fiscal and political dilemma for the government: how should the country pay for the recovery? Does it borrow now and spread repayment over generations, or raise taxes in an election year?

A government-ordered review of the Reserve Bank — the first in more than a generation — is expected to ask searching questions of our key financial institution. The leadership of the central bank, the composition of its board, missed targets and broken promises are all elements under examination.

Some retirees could face a cold and hungry winter, as costs rise and banks slow-pedal their term deposit interest rates. It's allowing the big banks to maintain high margins and send record dividends back to their Australian owners. Jonathan Milne reports.

While workers' pay packets are growing at the fastest pace in a decade, profits are still rising even faster, according to official data.