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The Latest Breaking News from RBA

Reserve Bank hikes cash rate to 0.85 per cent

The Reserve Bank has lifted the cash rate from 0.35 per cent to 0.85 per cent in a bid to curb rising inflation. It is the second hike in as many months.

The New Daily

Interest rate decision: RBA raises official cash rate to 0.85 per cent amid soaring inflation — as it happened

The Reserve Bank announces a cash rate rise of half a percentage point. Look back at how the day unfolded in our live blog.

ABC News

Morning mail: Boris Johnson wins confidence vote, gas ‘trigger’ at the ready, RBA rate decision looms

Tuesday: Rising fuel, food and energy prices have people meticulously tracking their spending. Plus: the bike desk shows us why we can never relax

The Guardian - AU

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Memo RBA: we ought to live with inflation, more of it

Later today, everyone expects the Reserve Bank board will push up its cash interest rate for the second consecutive month.

The Conversation

Rate spike 'difficult news' for households

Treasurer Jim Chalmers says the 50 basis point increase in the cash rate by the Reserve Bank of Australia will be difficult news for households.

AAP

Market Wrap: Volatile inflation and a deluge of data as China emerges from lockdowns

A deluge of data in China will provide fresh insights into the economic impact of the COVID lockdowns, including trade, consumer and producer inflation.

The New Daily

Interest rates: RBA weighs up risk of ‘climb shock’ ahead of decision

Economists split on how much Reserve Bank will lift cash rate on Tuesday as it looks to rein in inflation

The Guardian - AU

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ASX falls ahead of RBA meeting, global stock markets slide, Rio Tinto sued over Queensland refinery

Australian shares fall ahead of the RBA meeting on Tuesday, pulled down by a slide in global equities as US jobs data signals the Federal Reserve will likely continue raising interest rates to ease inflation.

ABC News

Petrol back below $2 for some motorists

Petrol prices have eased below $2 per litre, ending a six-week run of increases, but rising global oil prices suggest this relief will be short-lived.

AAP

Watch: Queen thanks partying Britons, Albanese arrives in Jakarta, RBA tipped to lift interest rates

Watch: Queen thanks Britons as jubilee celebrations end. Anthony Albanese touches down in Jakarta. RBA tipped to hike official cash rate 0.25 per cent to

The New Daily

Skilful economic measures are needed to fight the inflation stalking Australia’s households

Tight labour markets, geopolitical uncertainty and the climate crisis all present gnarly challenges. Three experts explain the solutions

The Guardian - AU

Home lending plunged 6.4 pct in April

Borrowing for housing fell 6.4 per cent to $30.99 billion in April, representing a steeper fall than economists were expecting.

AAP

Ritchie Bros. Auctioneers Names Eric Jacobs As Finance Chief

Ritchie Bros.

Benzinga

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Conversation

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The Guardian - AU

Anthony Albanese has some tough economic problems on his plate. Here are seven of them

From sluggish wages to red-hot inflation, there are some unusual things happening in Australia’s economy

AAP

Further sign of lame economy in early 2022

There are signs next week's national accounts will show the economy was barely growing in the first three months of the year.

ABC News

HomeBuilder and first home buyer grants made housing less affordable says Reserve Bank

Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes for some Australians, according to the Reserve Bank.

The New Daily

Michael Pascoe: Opportunity knocks for Australia in China

I suspect Anthony Albanese will be a better PM than he was Opposition Leader – his talents more suited to making things work than tearing things down.

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AAP

RBA declines to speculate on rate peak

The RBA's assistant governor for economics Luci Ellis has refused to predict how high interest rates may rise, but reiterated more increases are to come.

StockNews.com

Diversify Your Portfolio with These 5 Outperforming Foreign Stocks

The U.S. stock market rebounded yesterday after talks around a possible easing of import tariffs on Chinese . However, investors remain concerned about multi-decade high inflation and the possibility of economic contraction. This is expected to keep the markets volatile in the near term. So, we think that amid the…

ABC News

Wage debates and inflation are just the tip of what business want the new government to tackle

Businesses are battling rising costs, while their customers' purse strings are tightening. Tackling this situation will be the new government's great task, and there's only so much it can do to control some broad economic pressures.

The Guardian - AU

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

AAP

Punishment at the petrol pump: Chalmers

New federal treasurer Jim Chalmers says motorists are being punished at the bowser again, but won't promise to retain the fuel excise cut beyond September.

Reuters

Australia's economy holds plenty of pitfalls for election winner

Whichever party takes the reins of power at Australia's election on Saturday faces an economic road pitted with pot holes, from runaway inflation to rising interest rates, ballooning debt and an over-heated housing market.

AAP

Jobless rate holds at 3.9 pct in April

The unemployment rate remained at 3.9 per cent in April after the Australian Bureau of Statistics downwardly revised the March result from four per cent.

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