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The Latest Breaking News from the Reserve Bank

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

Feeble retail sales growth reflects stretched consumers

Consumers appear to be spending more cautiously in a sign the Reserve Bank's mission to reduce inflation is working as intended.

AAP

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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

Inflation jump complicates Reserve Bank's job

Australia's consumer prices have risen 5.2 per cent in the latest figures, with fuel, housing, transport, food and insurance the biggest drivers.

AAP

Inflation expectations tick up as petrol prices lift

There's been a dip in in consumer confidence as rising petrol prices nudge inflation expectations, which could be of note to the Reserve Bank.

AAP

Economy bounces back after flooding, but primary industries fall

Business & investing: NZ economists warn better-than-expected GDP data likely to be temporary, and US Federal Reserve held its benchmark interest rate steady for a second time

Newsroom.co.nz

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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 Conversation

Govt suggests barring development in climate-exposed areas

A new National Policy Statement on natural hazards would prevent councils from consenting development in areas exposed to high levels of climate risk and prioritise nature-based adaptation, reports Marc Daalder

Newsroom.co.nz

Aust shares fall at start of big week for central banks

The local share market finished down 0.7 per cent at the start of a week that will feature meetings by six central banks and minutes from the RBA.

AAP

Australian economy adds 65,000 jobs in August, raising prospect of further rate hikes

Unemployment rate remains steady at 3.7% in a sign that the economy could avoid a hard landing as impact of 12 interest rate rises is felt by households

The Guardian - AU

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

Jim Chalmers warns soft landing ‘not assured’ for economy despite Treasury forecasts

Exclusive: Treasurer expects ‘bumpy’ year ahead as Australia feels the squeeze of higher interest rates and China’s slowdown

The Guardian - AU

RBI resisted govt push for ₹3 lakh crore transfer in 2018 ahead of elections: Viral Acharya

He called the exercise a “backdoor monetisation of the fiscal deficit by the central bank”.

The Hindu

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Newsroom.co.nz

Reserve Bank chair's 'totally inappropriate' work with National Party

The chair of the board of the Reserve Bank has been criticised for working with the National Party on a new policy in his capacity as the vice-chancellor of the University of Waikato.

The Conversation

We're in a per capita recession as Chalmers says GDP 'steady in the face of pressure'

Australia’s economy grew a mere 0.4% in the June quarter according to figures released by the Bureau of Statistics on Wednesday, a performance Treasurer Jim Chalmers describes as “steady in the face of unrelenting pressure”.

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.

Crikey

PM ‘can’t be clearer’ over Qantas

Philip Lowe will chair his last meeting of the Reserve Bank of Australia board today, and Anthony Albanese has declared he received ‘no lobbying’ from Qantas over blocking Qatar Airways from offering more flights to Australia.

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The Guardian - AU

Record number of Australians at risk of mortgage stress as RBA interest rate rises bite

Roy Morgan research shows 1.5 million people – almost a third of all mortgage holders – are spending 25 to 45% of their income on their home loan

The Conversation

High interest rates are not bad news for everyone. Just ask savers, importers and Australians heading overseas

It is a universally acknowledged truth that interest-rate rises are always a bad thing for the average Australian household.

The Conversation

You don't have to be an economist to know Australia is in a cost of living crisis. What are the signs and what needs to change?

This article is part of The Conversation’s series examining Australia’s cost of living crisis.

The Guardian - AU

Australian unemployment rate rises to 3.7% as economy sheds 14,600 jobs in July

Latest jobless rate higher than economists predicted, Bureau of Statistics unemployment figures show

The Guardian - AU

It’s good news that real wages are no longer falling – but the fall has already been deep

Wages rose modestly in the June quarter but so did inflation. The average wage now buys you the same amount as it did in 2009

The Guardian - AU

RBA says slowing economy and acute pressure on household budgets behind interest rate pause

Minutes from the Reserve Bank’s August meeting show the board considered lifting the cash rate to 4.35% but decided to allow more time to look at economic data

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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