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The Latest Breaking News from Reserve Bank

Interest rate updates: ANZ, NAB and Westpac pass on Reserve Bank's eighth consecutive rate rise — as it happened

Several of Australia's major banks have increased interest rates following a decision from the Reserve Bank to lift the cash rate for the eighth consecutive time.

ABC News

The Loop: Ukraine claims drones hit Russian bases, and Lady Gaga's dogwalker shooter takes 21-year plea — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

RBA hikes rates in fight to tame inflation

The Reserve Bank has increased interest rates by another 25 basis points, locking in more mortgage pain for Australians over summer.

AAP

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New Zealand announces inquiry into Covid-19 response

While strict Covid-19 response was broadly considered one of the most successful in the world, PM says inquiry will help prepare for next pandemic

The Guardian - AU

Household living cost crisis not over yet

The inflationary crisis piling pressure on Australian households still has some heat left in it, with a key economic marker picking up speed.

AAP

All eyes on last cash rate call for 2022

The Reserve Bank board will meet for its December cash rate decision next week and Australia's economic growth for the third quarter will be revealed.

AAP

Digital rupee a game changer, says SBI chairman Dinesh Khara

NEW DELHI: SBI chairman Dinesh Khara on Friday said the Reserve Bank's first pilot project for retail digital rupee is a "game changer" with durable effects that should ensure better monetary transmission at much lesser costs.

The Times of India

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Branches of Indian banks in overseas can deal in financial products not permitted in domestic market

MUMBAI: The Reserve Bank on Thursday allowed with certain riders foreign branches and subsidiaries of Indian banks to deal in financial products that are not specifically permitted in the domestic market.

The Times of India

Reserve Bank's stance on household pressure is all about interpretation

Do the stats tell the whole story?

Newcastle Herald

Carlyle, Advent get conditional nod from RBI to own 9.99% in Yes Bank

MUMBAI: Private equity majors The Carlyle Group and Advent have got the Reserve Bank's nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday.

The Times of India

Workplace law changes all but locked in

The raging debate over industrial relations changes is coming to a head after the controversial changes passed the Senate.

AAP

Reserve Bank just landed final blow to Labour's election hopes

Labour is not responsible for the global economic crisis, the Ukraine war or the Reserve Bank’s record rate rise but is set to suffer electorally the way it did after the oil shock in 1974.

Newsroom.co.nz

Inflation may now have peaked. The RBA must tread carefully

The next worry for Philip Lowe is he’ll have to apologise for raising interest rates longer than needed

The Guardian - AU

Dip in Australia’s inflation rate in October raises hopes price rises may have peaked

Headline CPI rate eases from 7.3% to 6.9%, lower than economists’ expectations, but fuel prices still rose as full excise rate returned

The Guardian - AU

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The New Daily

Michael Pascoe: The Pope’s a Catholic and forecasting is a mug’s game

The RBA had done all that could be done with monetary policy to fight the possibility of recession/depression from a global pandemic

Newsroom.co.nz

Post-Covid inflation adds a new twist to the famous Phillips Curve

A 'wet weekend's work' by NZ's most brilliant economist is being embraced by the world's central banks to help chart a course out of pandemic.

Newsroom.co.nz

Workers who missed speeding inflation train suffer wide wage gap

Those who've changed jobs or taken a promotion are keeping up with inflation, but those who stayed in the same roles are falling far behind, says Reserve Bank chief economist Paul Conway.

Newsroom.co.nz

‘Parents have never done it so hard’

Almost two-thirds of parents say the rising cost of living is affecting their ability to raise their kids, with spending on gifts and expensive activities first on the chopping block.

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The Guardian - AU

Philip Lowe is the easy fall guy for our economic woes. But maybe we should have listened to him more closely

Reserve Bank governor has been criticised for saying interest rates might not rise until 2024. But that message came with caveats some did not hear

The Guardian - AU

Afternoon Update: Landmark gender equality bill; Nationals oppose Indigenous voice; and Bob Dylan’s ‘fake’ signature

Labor passes its Respect@Work bill to address workplace culture and is set to pass the industrial relations bill after David Pocock gave his support

ABC News

RBA Governor Philip Lowe apologises to Australians struggling with mortgages

Reserve Bank Governor Philip Lowe has apologised to Australians for giving them unclear guidance that led to hundreds of thousands taking out big mortgages in the expectation that interest rates would stay low until 2024.

Newcastle Herald

RBA governor 'sorry if people listened' to interest rate advice

"I'm certainly sorry if people listened to what we said and they acted on what we had said and now regret what they had done. So that's regrettable. I'm sorry that happened."

AAP

Rents, energy driving inflation: RBA chief

The head of the Reserve Bank Philip Lowe has thrown his support behind measures to boost energy and housing supply to cool inflation.

The Canberra Times

RBA governor 'sorry people listened' to interest rate advice

Greens senator Nick McKim accused the governor of "inducing many Australians to take out mortgages in the belief that interest rates wouldn't rise until 2024".

AAP

Cost of living data top of watch list

Fresh data will reveal how sharply costs are rising and how well households are faring as financial pressures mount.

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