The Latest Breaking News from Reserve Bank

A June interest rate meeting comes as the federal government defends its budget management in an economy facing slow growth and persistent inflation.

The Reserve Bank of Australia is expected to hold interest rates at 4.35 per cent and keep its options open on its next move.

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government. Read further on Dynamite News:

Asked to grade Treasurer Jim Chalmers’ third budget on his own criteria of delivering on “inflation in the near term and then growth in the medium term”, most of the 49 leading economists surveyed by the Economic Society of Australia and The Conversation have failed to give it top marks.

The spending appetite of consumers remains a key source of uncertainty for the Reserve Bank as the battle against inflation rages.

Poll finds lukewarm response to Labor’s 2024 budget, with only 27% of people thinking it will make a ‘meaningful difference’ to the cost of living

The minutes from the last Reserve Bank meeting will outline the thinking behind keeping rates on hold and how seriously the case to hike was considered.

A central focus of this week’s budget is the treasury’s forecast for inflation.