News Articles for Reserve Bank of Australia

The Reserve Bank of Australia has lifted the nation’s official cash rate to 4.1 per cent – a 25 basis point jump which takes it above four per cent for the first time since April 2012.

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

Mark McGowan's third budget as treasurer reinforced the state's standing as the country's strongest economy.

Reserve Bank governor Philip Lowe has used a public appearance to explain that low productivity growth, not wages, is threatening the outlook for inflation.

Consumers remain down in the dumps, with financial sentiment back to its lowest level since April 2020, but there is some optimism about the economy's future.

The RBA expects growth to ease by more than earlier predictions as cost of living pressures and higher interest rates weigh on disposable incomes.

Jim Chalmers says the high inflation environment is the main challenge facing the economy and his budget will reflect these price pressures.

Senior journalist Matt Mckenzie and Jack McGinn talk about the RBA's decision and the rising cost of living.

Just In: The RBA has signalled further rate hikes could still be ahead as it lifted the official cash rate to 3.85 per cent.

The costs of school and medical services in Perth have almost tripled over the past 20 years, as analysis by Business News reveals where households have been hit hardest by inflation.

Mark Pownall and Mark Beyer discuss The Perth Mint, the Reserve Bank of Australia review, Town of Cambridge, Essential Metals, and possible changes to the federal petroleum tax.

ANALYSIS: Philip Lowe says changes proposed in the RBA review will have a "marginal" impact on the economy, but crucially, the panel has reaffirmed the bank's inflation target.

A major overhaul of the Reserve Bank will create a board for setting interest rates that's more accountable and holds fewer meetings.

Senior journalist Matt Mckenzie speaks with Jordan Murray about the future of the Liberal Party and the electoral consequences of shifting to the right.

More rate rises could be on the way, the RBA has said, while singling out the construction industry as at risk of further insolvencies.

The turnaround in the property market, the strong jobs market and an interest rate pause has done little to lighten the load felt by consumers.

Further rate hikes still loom despite the RBA giving borrowers relief today following 10 consecutive rises, but Australia's banks are "strong" in the face of global headwinds.

The Reserve Bank could be facing legislative changes under a review, due to be handed to Treasurer Jim Chalmers on Friday.

A senior Reserve Bank official says the prevalence of fixed-rate loans and sizeable savings buffers are likely extending the lag time of interest rate hikes.

Westpac, St. George, HSBC, JP Morgan and AMP now expect the Reserve Bank won't raise rates in April - but ANZ and CBA still forecast a rate hike.

Mark Pownall and Mark Beyer discuss the latest on The Perth Mint, Clive Palmer and Reserve Bank of Australia, and preview next fortnight's edition of Business News.

Finance Minister Katy Gallagher is cautiously optimistic comments from RBA Governor Philip Lowe show interest rate hikes are closer to being paused.

Jordan Murray speaks with senior journalist Matt Mckenzie about the political fallout that followed the state government's announced reforms to the Perth Parking Levy.

There are hopes the RBA will slow its rate hikes, with the central bank today saying inflation had passed its peak as it lifted the cash rate to 3.6 per cent.

Consumer sentiment is still very low although mortgage holders have curiously regained some confidence ahead of the Reserve Bank's next cash rate decision.

Employers are still offering big sums to entice in-demand workers but growth in advertised salaries is starting to wane.

The Australia Institute has linked rising prices to growing business profits, and claimed workers should not accept sluggish wage growth.

Australian consumers are feeling a little more upbeat but the nation's weekly measure of consumer confidence is still deeply in negative territory.

Western Australia has recorded the largest drop in retail sales in December compared to other states and territories, according to the latest monthly retail turnover data released by the Australian Bureau of Statistics.

The Reserve Bank has not been spooked by the unexpected uptick in the headline jobless rate and will stick with its hawkish stance on interest rates.

The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.

The latest cash rate hike has mortgage holders worried as consumer confidence sinks to the lows of the pandemic.

Cabinet minister Bill Shorten has defended Philip Lowe's decision to give a private briefing to bankers about interest rate rises.

Mark Pownall and Mark Beyer discuss interest rates, building activity, Fortescue Metals Group, development approvals, and preview next fortnight's edition of Business News.

Treasurer Jim Chalmers says while the recent interest rate hike would slow the economy, forecasts show Australia would not go into a recession.

It doesn't stop: The RBA signals rate hikes will continue in the months ahead, as observers declared the central bank's stance had become even tougher.

As the Reserve Bank board prepares to announce an expected 25 basis point rise in the cash rate, figures show Australian trade surplus slipping.

Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.

Australia's unemployment rate remains stuck at 3.5 per cent, with 14,600 jobs disappearing from the economy in the latest official statistics.

The Labor government expects wages will keep growing strongly as inflation moderates, ultimately leading to real wage growth by 2024.