Monday, 4 December, 2023 - 14:00
Struggling with persistent inflation
The Reserve Bank of Australia has just released its revised economic outlook, following this month's rate hike that lifted the cash rate to 4.35 per cent.
The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank. The bank has the responsibility of providing services to the Government of Australia, in addition to also providing services to other central banks and official institutions.
It consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.
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The Reserve Bank of Australia has just released its revised economic outlook, following this month's rate hike that lifted the cash rate to 4.35 per cent.
The Reserve Bank of Australia has held the country’s official cash rate at 4.35 per cent, offering a slight relief to mortgage holders 20 days before Christmas.
The Reserve Bank's inflation and employment goals have been outlined in an updated statement, including the board's role in achieving full employment.
It’s an open question whether the lessons of 2023 will be learned or, as usual, forgotten.
The Reserve Bank of Australia has held the cash rate steady at 4.35 per cent, in its first meeting of the new year.
The Reserve Bank of Australia has not ruled out more interest rate hikes but economic forecasters are reasonably confident the next move will be down.
The Reserve Bank of Australia has held the cash rate steady at 4.35 per cent following its second board meeting of the year, its third consecutive pause in the current cycle.
A boom in jobs has pushed down Australia’s unemployment rate and prompted economists to trim their interest rate outlook though some have cast doubt on the data.
The Reserve Bank of Australia continues to hold the cash rate steady at 4.35 per cent at its third board meeting of the year.
The Reserve Bank of Australia has again held the country’s cash rate steady at 4.35 per cent, meeting economists’ expectations.
A surprise uptick in Australia’s inflation rate has lifted the chances the Reserve Bank of Australia will increase interest rates again as it struggles to stifle price pressure.
The Reserve Bank of Australia has kept the cash rate its July level, 4.35 per cent, foregoing a rate increase amid global market uncertainty.
The Reserve Bank’s decision to keep rates steady will not have a material impact on the housing market, according to CoreLogic.
Australian Treasurer Jim Chalmers says he has “the utmost respect” for the independence of the Reserve Bank, while again blaming its policy for slow economic growth.
Australia recorded another month of strong jobs growth in August, with the data reducing the prospect of interest rate cuts in the next few months.
The Reserve Bank of Australia has opted to hold the cash rate steady at 4.35 per cent, leaving it unchanged since November 2023.
The nation’s inflation rate has eased to 2.7 per cent in August, its lowest reading in two and a half years, according to fresh figures form the Australian Bureau of Statistics.
Surcharges charged on debit card purchases by merchants could be banned under a review of payment systems, announced today.
Annual inflation has returned to within the Reserve Bank’s target band for the first time since 2021, but experts say energy and rent assistance measures were hiding the true figure.
Australia has recorded another month of solid employment growth, reinforcing the expectation of no interest rate cuts until mid 2025, though WA has bucked the positive jobs trend.
Australia’s annual inflation held steady at 2.1 per cent for October, remaining at its lowest since mid-2021.
The Reserve Bank of Australia has held the cash rate steady at 4.35 per cent as expected but economists have noted a shift in the board's tone.
Treasurer Jim Chalmers has appointed a former banking executive and an economics professor to the Reserve Bank board, following a six-month review into monetary policy setting.
The heat’s building over interest rates as Australia leads all comers in the race no-one wants to win.
Our weekly appointments wrap includes Ryan Hall, Jo Gaines, Elena Limnios, Warren Hallam, Marnie Baker, Renee Fry-McKibbin, Cate Brooks and Ross Donaldson.
Australia's trimmed mean inflation fell to 3.2 per cent in November, but jobs figures suggesting a tightening of the labour market have dashed hopes of a February rate cut.
Australia’s consumer price index rose 0.2 per cent in the December quarter, buoying expectations the Reserve Bank of Australia could cut rates in February.
Consumer confidence dropped to its lowest point this year, according to new Roy Morgan data, as Australia waits on the Reserve Bank’s pivotal rates decision, due later today.
The Reserve Bank of Australia has cut the cash rate for the first time since November 2020, but governor Michele Bullock has warned the inflation fight isn’t over.
Australia’s consumer price index – a key measure of inflation – held steady at 2.5 per cent over January.
Headline inflation dropped to 2.4 per cent in February ahead of next week’s rate cut call.
Corporate regulators have called on the local bourse to put the “highest priority” on resolving the underlying issues that led to a settlement system failure in 2024.
Word on the street is that the RBA will keep interest rates on hold at tomorrow’s meeting, but another cut could be on the cards in late May.
The cash rate remains at 4.1 per cent following the Reserve Bank’s latest policy meeting.
ANALYSIS: Business News recaps a week’s worth of ABS data and looks at where the economy is headed next.
The Reserve Bank delivered a 25-basis-point cut as predicted, but analysts warn the window for further easing may be narrowing.
Westpac has forecast an interest rate cut by the Reserve Bank of Australia in July rather than August, but added this may not be the “shoo-in” everyone’s expecting.
New data on property prices has shown the highest growth since September last year.
Despite cost-of-living being a key issue on most Australian’s minds, new data from the Australian Bureau of Statistics indicates confidence in the economy.
The Reserve Bank of Australia has kept the cash rate unchanged at 3.85 per cent, shocking markets which predicted a 90 per cent chance of a 25 basis point cut.
Name | Position | Year Started |
---|---|---|
Governor
Deputy Governor (2022 to 2023) |
2023 | |
Monetary Policy Board Member
|
2025 | |
Board Member, Payments Systems Board
|
2013 | |
Monetary Policy Board Member
|
2025 | |
Board Member
|
2016 | |
Board Member
|
2021 | |
Board Member
|
2023 | |
Board Member
|
2023 | |
Board Member
|
2017 | |
Board Member
|
2020 |
Name | Position | Year Started | Year Ended |
---|---|---|---|
Deputy Governor
|
2022 | 2023 | |
Board Member
|
2017 | 2023 | |
Governor
|
2016 | 2023 | |
Assistant Governor, Financial System
|
2016 | 2022 | |
Deputy Governor
|
2016 | 2022 | |
Board Member
|
2011 | 2021 | |
Board Member
|
2015 | 2020 | |
Board Member
|
2013 | 2018 | |
Board Member
|
2015 | 2018 | |
Non-Executive Director
|
2012 | 2017 | |
Board Member
|
2007 | 2017 | |
Assistant Governor, Business Services
|
2015 | 2016 | |
Governor
|
2006 | 2016 | |
Deputy Governor
|
2012 | 2016 | |
Assistant Governor, Currency
|
2010 | 2015 | |
Governor of Corporate Services
|
2005 | 2015 | |
Non-Executive Director
|
1998 | 2013 | |
Senior Representative, WA (since 2004)
|
1996 | 2013 | |
Head of Media Office
|
2009 | 2011 | |
Head of Payments Policy Department
|
2007 | 2010 | |
Head of Section
|
1999 | 2010 | |
Chief Manager, Payments Policy Department
|
1998 | 2007 | |
Economist
|
1993 | 2005 | |
Economist
|
1986 | 1988 | |
Exchange Control Department
|
1982 | 1984 | |
Research Manager
|
|||
Non-Executive Director
|