RBA
Debit card surcharges could be scrapped in crackdown
16 October
Surcharges for payments made by debit card could soon be dumped, but business groups have warned there might be unintended consequences for consumers. The federal government said it was prepared to ban debit payment surcharges by 2026, pending a...[Read More]
Spring brings brighter outlook as rate hike fears fade
9 October
Consumers can see light at the end of the tunnel as fears of further interest rate hikes fade. As signs of improving consumer and business confidence emerged, minutes from the Reserve Bank of Australia’s last meeting confirmed the case to lift...[Read More]
RBA sounds warning on international student cap
9 October
Australia’s central bank has warned a looming cap on international students could affect economic growth, as a parliamentary report examining the proposal was delayed. Under a federal government proposal, 53,000 fewer students from overseas would...[Read More]
Retail trade springs back after warmer weather
2 October
Warmer-than average weather and Father’s Day sales spurred on an early spring blitz to the shops in a boost to retail figures. Australian Bureau of Statistics figures showed retail spending grew 0.7 per cent in August and increased 3.1 per cent in...[Read More]
Power subsidies and cheaper petrol drive down inflation
25 September
A drop in inflation has been welcomed as a small respite for struggling shoppers but households are being warned prices are set to bounce around and not come down in a straight line. Inflation cooled to 2.7 per cent in the 12 months to August, down...[Read More]
Don’t put money on rates relief soon, borrowers warned
25 September
There are still no plans to cut interest rates soon as the Reserve Bank held the cash figure steady for what will be a calendar year. The RBA wants more signs inflation is under control before it will consider lowering rates, Governor Michele...[Read More]
Resilience of jobs market put to test
18 September
Focus will be on cracks forming in the jobs market for confirmation they are widening at a pace the Reserve Bank is comfortable with. Thursday’s labour force data from the Australian Bureau of Statistics is expected to show the jobless rate...[Read More]
Cafe, pub splurge short-lived as consumer pain persists
18 September
Pubs, restaurants and cafes reaped the benefits of early Father’s Day celebrations but the boost was likely temporary as financial pressures keep a lid on consumer spending. Hospitality spending jumped 5.2 per cent in August, based on Commonwealth...[Read More]
Rates veto power must stay: Greens issue RBA demands
11 September
Fizzling Reserve Bank reforms could be revived if the federal government is prepared to keep its veto power of interest rate decisions and meet other demands from the Greens. The minor party also wants the RBA to maintain its ability to direct...[Read More]
Hiring go-slow ongoing as RBA keeps sights on inflation
11 September
Demand for labour will need to taper off further to tame inflation, with Australia’s central bank expecting firms to trim staff hours and keep the handbrake on new hiring. Reserve Bank assistant governor Sarah Hunter said Australia’s labour...[Read More]
Inflation steps down but ladder still steep for RBA
28 August
Fruit and vegetable prices are blowing out grocery bills but electricity rebates and petrol prices are driving down inflation. The monthly consumer price index rose 3.5 per cent over the 12 months to July, a touch higher than the 3.4 per cent...[Read More]
Rate-cut hopes hit brick wall as RBA cements stance
21 August
Mortgage-holders could be waiting until early 2025 for repayment relief if the economy follows the Reserve Bank of Australia’s expected path. For six meetings in a row, interest rates have been left at 4.35 per cent, a level the central bank says...[Read More]
Beware of economic ‘false prophets’, warns Reserve Bank
14 August
Commentators framing their economic projections as unquestionable and obvious should be treated with caution, says Reserve Bank of Australia’s deputy governor, Andrew Hauser. In a speech to the Economic Society of Australia in Queensland, Mr...[Read More]
Moderating wage pressures may come as a relief
14 August
Private sector wages are growing at the lowest rate in more than two and a half years as the cooling jobs market tempers pay negotiations. Moderating wage pressures may come as a relief for an RBA preoccupied by persistent inflation and companies...[Read More]
RBA governor warns rate cuts not on near-term agenda
7 August
Mortgage-holders have a while to wait for repayment relief as the head of the Reserve Bank of Australia warns a near-term interest rate cut is not on the cards. Australia’s central bank left interest rates unchanged at 4.35 per cent as widely...[Read More]