The Latest Breaking News from Reserve Bank

Australia's big four banks raked in nearly $30 billion in profits over the 2022 financial year as people struggled with the cost of living. And higher interest rates will put more mortgage borrowers at risk.

The Reserve Bank of Australia will not hesitate to raise interest rates "quite quickly" if there are signs inflation is getting too far out of control, its deputy governor says.

To those who have grown up with the idea that keeping our money safe means a heavy bank vault inside a big stone building, opening up access to third parties sounds scary.

Very smart people are nodding and suggesting the economy needs to slow to get inflation under control and, well, damn the consequences

The second in command at the Reserve Bank says soaring energy prices could throw out its forecast and drive inflation even higher.

ABS and CommSec data shows there are already signs of a slowdown as average household spending goes up 15 per cent in the past five years.

Reserve Bank Governor Philip Lowe is getting terrible press, most of it undeserved.

Australia’s top economists have overwhelmingly endorsed intervention to restrain gas and electricity prices, with only three of the 47 leading economists surveyed believing the best thing the government can do is to leave things to the market.

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

How consumers and government agencies are spending their money will be closely watched by Australia's central bank as inflation bites.

The Australian Greens say the federal government's review of the Reserve Bank should re-imagine how monetary policy should work for the 21st century.