Tag: Reserve Bank
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Fresh blow for Aussie home owners as inflation hits high
Underlying inflation has risen to three per cent over the year to September, damaging mortgage holders’ hopes of an interest rate cut. Housing, recreation and culture, alcohol and tobacco, and communication had the biggest price increases over the most recent quarter, according to the Australian Bureau of Statistics. Underlying or trimmed-mean inflation is the RBA’s…
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Economy ‘in a good spot’ despite sticky inflation: RBA
Price rises in Australia’s services sector remain difficult to contain despite the national economy sitting in a good position, the central bank chief warns. Inflation is at 2.8 per cent according to the latest monthly reading, which is at the upper end of its target range of two to three per cent. But Reserve Bank…
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No rate relief for borrowers as RBA stays on hold
The Reserve Bank of Australia has held interest rates steady as widely expected, with attention turning to when, or if, the central bank will cut again. Borrowers will have to wait until at least November for more mortgage relief, but hotter-than-expected inflation and an enduringly robust labour market have raised the prospect the RBA might…
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Reserve Bank delivers anticipated rate decision
The widely tipped 25-basis-point reduction in the official cash rate on Tuesday comes after the central bank’s surprise decision in July to hit pause. Today’s decision to reduce rates was reportedly unanimous, unlike the July pause, which was split six votes to three. At the time, RBA governor Michele Bullock said the bank board wanted…
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Central bank hails inflation ‘jigsaw’ coming together
A promising fall in inflation has been heralded by a top Reserve Bank of Australia official, whose dovish comments will reinforce expectations of another rate cut. The central bank’s deputy governor, Andrew Hauser, said data released by the Australian Bureau of Statistics a day earlier was “very welcome”. The RBA’s preferred measure of inflation, the…
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Pulse check from Bank boss on Trump’s tariff whack
The Reserve Bank governor has sought to allay concerns following a week of economic tumult brought about by US President Donald Trump’s trade war. Addressing a women’s economic inclusion event, Michele Bullock conceded she hadn’t intended on speaking about the central bank’s policy imperatives, but needs must. “Inevitably, there will be a period of uncertainty…
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At last: RBA delivers long-awaited interest rate cut
The Reserve Bank has cut official interest rates by 0.25 per cent, in its first move downwards in more than four years. The move, which had been widely tipped by forecasters, is the first change in Australia’s official cash rate in 15 months. The rate has been at 4.35 per cent since November 2023, with…
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Inflation eases in September quarter
The headline annual rate was down a whole percentage point from the June quarter and landed broadly in line with expectations. The Australian Bureau of Statistics said this was the lowest annual inflation rate in more than three-and-a-half years. As expected, energy bill discounts and lower prices at the fuel pump weighed on the headline…
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No luck on rates cut, now retailers warn against Christmas interest hike
Retail trade figures for August revealed a 0.7 per cent increase for the month and 3.1 per cent for the year, with warmer weather driving discretionary spending on outdoor items as well as dining out. While the spike followed the sluggish 0.1 per cent rise in July, the National Retail Association urged the central bank…
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Where to from here? With inflation on the wane, Reserve needs to lead the way
The central bank will on Thursday release its financial stability review detailing risks to the economy in Australia and globally, and how well households and businesses will be to handle the possible threats. The reviews are released twice a year, with the previous report in March warning low-income families, renters and people with large debts…