News Articles for Philip Lowe

The International Monetary Fund's upgrade of the Australian economic outlook confirms the nation has outperformed all major advanced economies over the past year, Treasurer Josh Frydenberg says.

Josh Frydenberg has held discussions with the Reserve Bank of Australia and the prudential regulator over what is becoming a hot property market.

The Reserve Bank has left its key interest rates at a record low at its monthly board meeting, while warning it is monitoring developments in the heated housing market.

Reserve Bank governor Philip Lowe says it is important that business investment grows if Australia is to enjoy a strong and durable recovery from the COVID-19 pandemic.

The Reserve Bank has left its key interest rates unchanged following its monthly board meeting, while remaining committed to its bond buying program aimed at keeping borrowing costs low.

Many of Western Australia's small businesses carried a high degree of optimism into 2021, according to findings from the new 2020 BCEC Small Business Survey.

A prominent business leader has joined growing calls to support struggling companies once JobKeeper payments dry up.

Reserve Bank governor Philip Lowe says the central bank "does not and should not" target housing prices.

Labor is standing by calls to extend the JobKeeper scheme despite the Reserve Bank governor downplaying the need.

Reserve Bank Governor Philip Lowe has restated his support for permanently increasing the rate of JobSeeker unemployment benefits.

The Reserve Bank has left the cash rate and its other monetary policy rates unchanged after its first board meeting for 2021.

The Reserve Bank has left its suite of monetary policy measures unchanged at its final board meeting of the year.

Australia looks set to enjoy solid economic growth for the rest of what has been a traumatic year, rebounding smartly from the first recession in nearly three decades.

Reserve Bank governor Philip Lowe says a rapid economic recovery is possible if there is further good news on the health front, such as a COVID-19 vaccine.

UPDATE: The Reserve Bank has cut the cash rate to a record low of 0.1 per cent and says it is prepared to do more if necessary.

Banks will pass on as much relief to customers as they can should the Reserve Bank board cut its key interest rates on Tuesday, the peak industry body says.

The jobless rate in WA is among the country's lowest, with some workers finding jobs and some leaving the labour force.

Reserve Bank officials have left the cash rate unchanged at a record low 0.25 per cent, allowing Treasurer Josh Frydenberg's federal budget to have the economic limelight.

WA's domestic economy contracted 6 per cent in the June quarter, slightly better than national figures showing Australia is in recession.

Interest rates are expected to remain at record-low levels for at least three years, Australia's leaders have been told.

Reserve Bank governor Philip Lowe expects economic growth to contract by 7 per cent when the June quarter figures are released.

Western Australia's jobless rate has improved by a modest amount, with 19,000 more people in mostly full-time work, while national figures worsened to their highest level in 22 years.

Two of Australia's top economic analysts have taken very different views on the validity of printing money to finance deficits in a crisis.

The cash rate may have been left unchanged but the Reserve Bank's economic forecast has improved slightly despite a renewed lockdown in Victoria.

The Reserve Bank of Australia sees no need to adjust its policy measures in the current environment, minutes of its July policy meeting show.

The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of recovery after the coronavirus-driven economic downturn.

The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of the coronavirus-driven economic downturn.

The Reserve Bank boss has given his backing to the prime minister's post-COVID economic reform agenda, saying change is needed to help businesses expand, invest, innovate and hire people.

The Reserve Bank of Australia has chosen to keep interest rates unchanged today at 0.25 per cent, despite news of over 1 million job losses nationwide and a 48.5 per cent drop in car sales.

About one in five Western Australians in the hospitality and recreation sectors lost their jobs in a three-week period, new Australian Bureau of Statistics data suggests, while the RBA has flagged an economic recovery could begin in the September quarter with GDP growth accelerating to 7 per cent next year.

A major global credit rating agency has put a dampener on the federal parliament's likely passing of a $130 billion stimulus package aimed at supporting the economy through the coronavirus pandemic.

The Reserve Bank of Australia has left the cash rate at 0.25 per cent and reaffirmed a 25 basis-point yield target on three-year Australian government bonds.

Free to read: WA will be relying on strong export industries to keep its economy afloat, with domestic industries employing a total of 250,000 Western Australians having closed or severely reduced operations due to COVID-19.

A freeze on household bills, a slight rise of the payroll tax threshold and small businesses grants will form part of a $607 million state government stimulus package, while the Commonwealth and the Reserve Bank are considering further steps.

The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus, with Australia's "big four" banks each announcing they would pass on the rate cut in full.

The Reserve Bank has kept its word and left its growth forecast unchanged through to the end of the year, while continuing to insist the GDP hit from bushfires, drought and coronavirus outbreak will be short-lived.

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.

Reserve Bank of Australia governor Philip Lowe has called out Australia's major banks for consistently charging customers more for international money transfers than their non-bank rivals.

Moves by the Reserve Bank to buy private assets or government bonds, known as quantitative easing, are unlikely in the near future, according to governor Philip Lowe.

Australia's GDP showed only a slight expansion in the last three months, while WA's state final demand fell by 0.2 per cent for the quarter - the second weakest performing state.