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The Latest Breaking News from Reserve Bank

Grattan on Friday: Cost-of-living crisis is the dragon the government can't slay

At a White House briefing early this week, Joe Biden’s press secretary, Karine Jean-Pierre, was asked whether there’d been any thought of postponing Anthony Albanese’s state visit because of the Middle East conflict.

The Conversation

Michele Bullock and the fine art of painting oneself into a corner

With the Reserve Bank governor repeatedly saying she has a low tolerance for inflation, she’s put pressure on herself to lift rates.

Crikey

RBA 'wary' more rate hikes needed to beat inflation

The head of the Reserve Bank admits decision-makers "don't know if the job is done yet" when it comes to interest rate tightening to combat inflation.

AAP

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Grim end to year predicted for Labor with high chance of at least two more interest rate rises

Strong quarterly inflation figures sends market scrambling as odds on for interest rate hike at Reserve Bank’s Melbourne Cup Day meeting

The Guardian - AU

Fingers crossed for soft enough inflation numbers

Inflation has passed its peak and quarterly data will indicate if prices have been decelerating fast enough for the Reserve Bank to keep interest rates on hold.

AAP

Australian stocks gain amid RBA's hawkish minutes

The local share market finished up 0.4 per cent, with stronger gains fading after the Reserve Bank highlighted it had a "low tolerance" to inflation.

AAP

Don't throw the crypto baby out with the mercenary bathwater

The Reserve Bank is preparing for the day when cryptocurrency goes mainstream in New Zealand but there are plenty of sceptics who doubt the benefits of digital assets. Ben Rose argues the case for moving forward.

Newsroom.co.nz

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Banks have only passed on three-quarters of interest rate rises to depositors, RBA says

Increase compares favourably with New Zealand and the US, Reserve Bank assistant governor says

The Guardian - AU

Cost of living is the No 1 issue 'with a bullet'; tackling it will win the election

Climate, crime, health and education? Fuggedaboutit. For voters, cost of living is bigger than Covid – hell, it's bigger than Jesus. So tackling inflation will win the election. Jonathan Milne investigates.

Newsroom.co.nz

No rate hike yet, but will it rise on Melbourne Cup Day? It all depends on petrol prices

If the Reserve Bank does push up interest rates again, the most likely next date is its next board meeting, on Melbourne Cup Tuesday.

The Conversation

A 'hawkish' Reserve Bank rates decision will be bad for borrowers, good for savers

Business & investing: ANZ Bank economists expecting rate rise before year's end, but Kiwibank thinks hikes aren't necessary, writes Andrew Patterson

Newsroom.co.nz

The Reserve Bank shouldn’t be spooked by Australia’s imported inflation

If you look at what’s increased most in price over the past year, such as petrol, there is little that higher interest rates would change

The Guardian - AU

Labor’s employment white paper continues the wreckage of neoliberalism

The government’s approach when it comes to employment drives home Australia’s bipartisan indifference to the poor.

Crikey

The Albanese government blew its shot at setting a historic new unemployment target

Treasurer Jim Chalmers says the federal government’s employment white paper is “ambitious”. I’m not convinced.

The Conversation

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The Conversation

Employment white paper to deliver more highly qualified workers in net zero, care and digitisation

The government will commit $41 million for technical and further education and “higher apprenticeships” when it releases its white paper on employment on Monday.

The Conversation

No, the RBA review won't mean handing the bank's decisions to part-time outsiders

Misinformation is circulating about recommendations concerning the Reserve Bank board made by the RBA Review, of which I was a member.

The Guardian - AU

OECD inflation outlook suggests further Australian interest rate rises possible

Intergovernmental economic organisation warns core inflation across the world remains ‘persistent’ and may require policy action from Reserve Bank

AAP

Aust shares fall again as investors stick to sidelines

The local share market has closed down 0.5 per cent following the release of minutes showing the Reserve Bank considered hiking rates earlier this month.

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AAP

Petrol price surge further stretches household budgets

Motorists have been hit in the hip pocket by petrol price rises and the latest spike may put a dent in the Reserve Bank's fight against inflation.

Newsroom.co.nz

Heartland breaks ranks to allege 'distorting' behaviour by big banks

Big banks' deep pockets allow them to tilt the playing field with mortgage broker incentives and home loan cashbacks, says Heartland chief executive. Jonathan Milne reports.

Newsroom.co.nz

Reserve Bank credibility in question over 'blackballing' of experts

Allowing macroeconomic and monetary experts to serve on the Monetary Policy Committee is welcome. But, asks Eric Crampton, how did Reserve Bank believe there had never really been a ban?

Newsroom.co.nz

Borrowers left in 'mortgage prison' as firms quit personal lending market

A Commerce Commission inquiry has been warned that Kiwi borrowers will be unable to shift to more competitive lenders because of tough new credit rules. Jonathan Milne reports.

The Conversation

What's to stop Philip Lowe moving to a private bank after he leaves the RBA? It's what his predecessors did

Surely Reserve Bank Governor Philip Lowe won’t move to a private bank after his term as governor ends next week.

The Guardian - AU

Australia’s wage growth slightly weaker than expected in June quarter

The wage price index figures show that despite a tight labour market, there has not been a breakout in wage growth

The Conversation

We can and should keep unemployment below 4%, says our survey of top economists

Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%.

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