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 company behind major fashion brands Noni B and Rivers has been taken to Federal Court by the consumer watch dog for allegedly failing to deliver hundreds of thousands of items on time. Court proceedings commenced on Monday as the Australian Competition and Consumer Commission (ACCC) alleged the national retailer,Continue Reading
More pain for mortgage holders could be on the way after the Reserve Bank of Australia warned it would be some time before the board would have “sufficient confidence” inflation will ease within a reasonable time frame. The RBA on Tuesday released the minutes of its February meeting where itContinue Reading
For decades, Australians living in rural and regional parts of the country have had access to a landline telephone connection regardless of where they live. But the universal service obligation, delivered by Telstra, has lagged behind technological advances and the infrastructure is ageing. Communications Minister Michelle Rowland will use aContinue Reading
Economic contagion from China and soaring petrol prices pose significant risks to the Australian economy, the Reserve Bank has warned. Released on Tuesday, the minutes of the RBA board’s most recent meeting – at which it held the cash rate on hold at 4.1 per cent for the third consecutiveContinue Reading
The Reserve Bank expects 140,000 people will lose their jobs by the end of 2025. And in just nine days time, Philip Lowe will be one of them. After a 43-year career at the country’s central bank and a seven-year stint as its head, outgoing governor Philip Lowe will soonContinue Reading
Those bracing for a tough day on the Australian share market breathed a sigh of relief after the ASX closed on a high after a mammoth trading day, thanks in part to good news from overseas. The ASX200 gained 28.00 points or 0.38 per cent to 7,305.00 on Tuesday, reversingContinue Reading
Outgoing Reserve Bank governor Philip Lowe has delivered Australian homeowners a well-deserved break on rate increases, signalling for the first time since May last year that the latest economic data is aligned with bringing inflation back to target. The pause will give the RBA more time to assess the impactContinue Reading
The Reserve Bank has revealed the risks of further rate hikes as it revealed a slower-than expected economic outlook was a key reason the cash rate was held steady for only the second time in 14 months. Minutes from the RBA’s July meeting reveals while the board agreed “some furtherContinue Reading
The Reserve Bank has delivered homeowners a reprieve leaving interest rates steady at 4.10 per cent but warned it may be short-lived because inflation remains too high. In another decision that surprised analysts and defied experts’ predictions, the RBA said that it needed more time to analyse how the economyContinue Reading