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The Latest Breaking News from RBA

Why are Australian households struggling as corporate profits soar?

Everyday Australian’s are struggling to keep up with the rising cost of living with soaring inflation hurting households’ hip pockets.

The New Daily

New house approvals slide for fifth month in a row

Approvals for new homes remains subdued as stubbornly high inflation and rising interest rates weigh on demand for home-building.

AAP

Rate rises are hitting home as real incomes fall and the economy slows. What an achievement!

Weak growth anticipates worse to come, given the promise of further RBA hikes and the economy has already begun to fall

The Guardian - AU

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Economists back tourists and international students to keep Australia out of recession

Sharp interest rate hikes are putting families under pressure, slowing economic growth, but a tourism rebound is providing recession optimism.

The New Daily

Inflation still the 'defining challenge' as Australia's economic activity slows

Australia has recovered better than most from the COVID pandemic. As measured by gross domestic product (GDP), the economy is now 7% larger than it was before the pandemic.

The Conversation

Afternoon Update: ‘Worst of inflation behind us’; China angry over TikTok bans; and why you should walk 11 minutes a day

Australia’s economy loses steam as interest rates bite

The Guardian - AU

Australian economy slows as families suffer

Australia’s economy continued to slow over the final three months of 2022 as households tightened their belts, new official data has revealed.

The New Daily

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Court throws out ‘inappropriate’ bail conditions on student arrested after Sydney protest at Reserve Bank

Magistrate says she ‘didn’t understand’ why police imposed bail on woman, 23, who was charged with trespass after protest last month

The Guardian - AU

'Recession risks are rising' but the latest GDP numbers are expected to show 'solid' growth

The latest economic growth figures are expected to show a robust economy. But the outlook for 2023 is far less rosy, warn many analysts.

ABC News

‘Million-dollar question’: All eyes on consumer wallets as experts predict robust growth figures

Fears of a recession in early-2023 are set to be eased on Wednesday as experts prepare for robust economic growth.

The New Daily

Will the Reserve Bank review achieve anything? What difference could it make to interest rates?

A government-ordered review of the Reserve Bank — the first in more than a generation — is expected to ask searching questions of our key financial institution. The leadership of the central bank, the composition of its board, missed targets and broken promises are all elements under examination.

ABC News

Australia’s big banks are passing on all the interest rates hikes – but not the cuts

While the banks have been quick to pass on RBA’s every cash rate increase, they have not matched all the decreases since June 2019

The Guardian - AU

Profits have driven inflation while wages lag behind, argue economists

Increasing profits going to corporate Australia account for more than two-thirds of the nation's inflation problem, according to new research from the Australia Institute.

ABC News

Corporate profits fuelling inflation, research finds

New analysis challenges the narrative that workers need to accept sluggish wage growth to tame inflation and says business profits are driving higher prices.

AAP

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The Guardian - AU

‘An economic fairytale’: Australia’s inflation being driven by company profits and not wages, analysis finds

Australia Institute warns of a ‘profit price spiral’ and calls for shift in RBA and government narrative towards corporations

The Guardian - AU

Forget the spin. Cost of living and interest rates may stay high for some time to come

The RBA tells us the pain is only temporary and for the best, but it could be here for a while. Here’s why

ABC News

Australians experienced their largest real wage decline on record in 2022

Wages growth again misses Reserve Bank and economist forecasts, as workers experience their biggest decline in real purchasing power on record.

AAP

Wages up 3.3 per cent as competition drives pay packets

Wages have grown by 3.3 per cent, with weaker-than-expected reading likely to dampen concerns of a wages breakout keeping inflation sticky.

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news in one place.

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The Guardian - AU

NSW police criticised for ‘outrageous’ midnight arrest of student who protested at RBA

Cherish Kuehlmann woken up by officers who ‘barged into the house’ and took her to a police station, where she was charged with a trespass offence

ABC News

Australia to flirt with recession this year, warns NAB

Economists are warning Australia is at a heightened risk of recession in 2023 as the Reserve Bank keeps aggressively raising interest rates, with a per capita recession looking likely.

The Guardian - AU

Morning Mail: Biden’s surprise Ukraine visit, rates take shine off Labor, ‘gobblefunk’ row

US president promises more weapons for Kyiv; Guardian Essential poll shows voters think RBA is wrong on rates but also blame Albanese; another earthquake in Turkey

AAP

New insight into the logic behind February rate rise

The Reserve Bank's board minutes will be scoured for fresh insights into the central bank's cash rate decisions and how many more hikes are to come.

The Guardian - AU

Guardian Essential poll: most think RBA rate hikes an overreaction as shine comes off Albanese

Majority believe government at least partially to blame for rises but don’t assume Coalition would manage them better

The Guardian - AU

Reserve Bank offered treasurer the choice to have King Charles on Australia’s $5 banknote

RBA releases documents under FOI after Jim Chalmers said decision to feature Indigenous culture instead of monarch was bank’s

The New Daily

Alan Kohler: RBA defence of interest-rate mallet highlights the truth about inequality

The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.

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