News Articles for Reserve Bank of Australia

Jim Chalmers has defended the government's frank rhetoric on inflation as the RBA has telegraphed more cash rate rises are on the cards to curb runaway price hikes.

Australia's benchmark interest rate is now at a three-year high following the RBA's decision to lift the cash rate target for the third time in as many months.

The Reserve Bank of Australia board is expected to lift the official cash rate to 1.35 per cent when it meets on Tuesday.

Job vacancies grew by 13.8 per cent in the three months to May and stand at more than double the number recorded before the COVID-19 pandemic set in.

Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

Industry says Australian businesses are faced with workforce shortages supply chain disruptions and impacts of rising inflation.

The Reserve Bank of Australia has lifted the cash rate by 50 basis points, the largest single increase in more than 20 years.

Confidence has dropped to its lowest level since mid-August 2020 as cost of living pressures mount, not helped by an expected further rise in interest rates.

Household spending helped to prop up economic growth in the early months of this year, although there was a marked slowdown compared with the strong finish of 2021.

Building approvals showed a more modest decline in April after the wild swings recorded in the early stages of 2022.

Economists expect figures will show business investment picked up further in the March quarter, providing a boost to growth in the upcoming national accounts.

Retailers enjoyed a buoyant sales period during April compared to a year earlier, but ballooning inflation is eating into business operations.

The ANZ-Roy Morgan consumer confidence index has fallen for a fourth straight week to its lowest level since mid-August 2020.

The nation's third-largest bank, ANZ, has reported a lift in first-half profit after tightly managing costs and improving home loan processing times.

The cash rate could be expected to rise over time to 2.5 per cent, RBA governor Philip Lowe has said, while the central bank forecasts inflation could get worse before it gets better.

On today's episode of At Close of Business, journalists Matt Mckenzie and Jordan Murray discuss the RBA's reasoning for lifting interest rates, why more rises are expected, and what it means for the election.

The nation's benchmark interest rate has been lifted 25 basis points to 0.35 per cent by the Reserve Bank of Australia, as it seeks to respond to inflation running at 5.1 per cent.

Manufacturing is growing at its fastest pace in almost a year, despite the constraints of skilled worker shortages and rising input prices and wages.

Confidence eased slightly in the past week and could fall further as the latest inflation data highlights the extent of cost of living pressures.

Households are in a strong enough position to handle a rise in interest rates, Josh Frydenberg says, as the RBA appears to be losing patience with inflation.

The Reserve Bank of Australia board has left the cash rate unchanged, but warns it will be monitoring inflation and wages figures in coming months.

The March ANZ job advertisement series is likely to point to a further decline in the jobless rate and quicker than being predicted by the RBA and Treasury.

The Australian Bureau of Statistics says there were 423,500 job vacancies in February, around 200,000 more than was seen before the COVID-19 pandemic.

Almost 25 years after rapper The Notorious B.I.G. released hit Mo Money Mo Problems, the song title may serve as a cautionary warning for central bankers.

A day after the announcement of Guy Debelle's resignation, Reserve Bank governor says there are strong internal candidates for the deputy governor role.

RBA governor Philip Lowe has told a business conference inflation could reach four per cent-plus as a result of the Ukraine war and the floods in Australia.

Consumer confidence dropped 2.6 per cent in the past week as the war in Ukraine began and storms battered Australia's east coast.

The announcement that international borders will open this month and signs that the COVID-19 Omicron variant peak has passed has lifted consumers' spirits.

Reserve Bank governor Philip Lowe has warned federal politicians that raising the cash rate too soon could put expected lower unemployment at risk

The Reserve Bank of Australia will give a broad view of its outlook for the economy and interest rates when it releases its quarterly statement on monetary policy.

Australia's construction industry suffered a slump over December and January due to the impact of the Omicron variant, continuing the sector's volatile run over the past six months.

Australia's central bank will end its bond buying program but will have a slow approach to increasing interest rates from record low levels.

Perth has posted its highest inflation rate in 20 years, at 5.7 per cent in 2021, as national prices lifted 3.5 per cent.

Treasurer Josh Frydenberg has been quick to point out that interest rate decisions are up to the Reserve Bank as speculation mounts for a rise this year.

The federal government will appoint Gina Cass-Gottlieb as the ACCC's first female head, replacing outgoing chairman Rod Sims.

The Reserve Bank of Australia has left the cash rate unchanged at its final board meeting of the year and will reconvene in February.

The Australian Bureau of Statistics says the value of the nation's housing stock surpassed $9 trillion for the first time in the September quarter.

Job advertising has risen sharply as COVID-19 lockdowns eased and suggests the unemployment rate will be back below five per cent in the near term after the unexpected spike to 5.2 per cent in October.

Wages growth in Australia has returned to its pre-coronavirus pandemic level, but it is still way short of what the Reserve Bank wants to see.