The Reserve Bank of Australia will not be influenced by recent rate cuts abroad, freshly appointed deputy governor Andrew Hausen has signalled, after Canadian and European central bankers lowered interest rates this week. In his first public remarks since his appointment to the position in November, Mr Hauser, who wasContinue Reading
The OECD has urged the Reserve Bank to keep interest rates higher for longer to help tame inflation, and for the Albanese government to clamp down on the runaway growth of the NDIS to free up funds to support Australia’s energy transition and ageing population. In its latest Economic Outlook,Continue Reading
Interest rates risk going higher still, economists have warned, as stubborn inflationary pressures, rebounding economic growth, and continued tightness in the jobs market could force the Reserve Bank to inflict further pain on household borrowers. While the majority of economists still expect the RBA’s next move will be a cut,Continue Reading
Investors and economists have slashed their bets that the Reserve Bank will deliver a rate cut this year, after inflation rebounded in the March quarter. The consumer price index (CPI) rose 1 per cent in the first three months of 2024, the Australian Bureau of Statistics reported on Wednesday, upContinue Reading
A landmark change to Australian workers rights could have a major impact on the thousands who work from home, according to an expert. From August, Australians working at large organisations will be legally protected against answering calls, texts and emails from their bosses after hours deemed “unreasonable” when it comesContinue Reading
A pivot from the Reserve Bank to scrap an explicit warning about further interest rate rises has the peak union body calling for the cash rate to be cut now. The central bank kept the cash rate on hold for a third straight meeting on Tuesday at 4.35 per cent,Continue Reading
The Reserve Bank has spared borrowers fresh pain, but households holding out for rate cuts have had their hopes dashed with relief still expected to be months away. In a statement after the decision was announced at 2.30pm on Tuesday, the RBA said “a further increase in interest rates cannotContinue Reading
Reserve Bank governor Michele Bullock isn’t ready to cut interest rates just yet. But after the central bank’s aggressive campaign to quash demand and cool price pressures, delivering blow after blow to homeowners, the focus of economists and analysts has pivoted to the timing and speed of a rates reprieve.Continue Reading
Inflation eased in the December quarter to its lowest level in two years, all but guaranteeing the Reserve Bank keeps rates on hold when its board meets next week. The consumer price index, a gauge of the prices individuals pay for a broad range of goods and services, eased toContinue Reading
Cost conscious shoppers shunned Christmas and Boxing Day sales in December in a further sign that the economy is cooling under the impact of elevated interest rates. Retail spending plunged 2.7 per cent in December, the Australian Bureau of Statistics said on Tuesday, falling further than economists’ forecasts for aContinue Reading