Home lending slips but still well ahead over the year

10 July

New home lending remains far ahead of where it was a year ago despite a minor dip in May for property investors and owner-occupiers. Over the month, the Australian Bureau of Statistics logged a 1.7 per cent fall in all new housing loans, to $28.8...[Read More]

‘No smoking gun’ to hike rates

4 July

Australia’s central bank remains vigilant to slowing progress on inflation yet the minutes from the last interest rate meeting signal a reluctance to lift them again. In keeping with the Reserve Bank of Australia’s assertion the narrow path is...[Read More]

Retail sales rise 0.6 per cent as sales start early

4 July

An early start to end-of-financial-year sales lured in bargain-hunters last month, contributing to a larger-than-expected 0.6 per cent lift in retail sales. The monthly gain beat the 0.3 per cent month-on-month consensus forecast and followed a...[Read More]

Hotter-than-expected inflation leaves RBA in tight spot

27 June

An unexpectedly large jump in the monthly consumer price index is unwelcome news for the Reserve Bank of Australia in its lengthy inflation battle. The monthly consumer price index rose four per cent over the 12 months to May, above expectations and...[Read More]

Jitters from Reserve Bank dent consumer confidence

27 June

Consumer confidence took a hit after the Reserve Bank of Australia’s last meeting where a few worrying signals on retail prices had board members on guard. Surveys of consumers before and after the June cash rate meeting found sentiment dived in...[Read More]

RBA still not ‘ruling anything in or out’ on next move

20 June

Interest rates have been left on hold by the Reserve Bank which is keeping its options open on future moves, with neither a cut nor a hike ruled out. The central bank has again left its target cash rate at 4.35 per cent, where it has sat since...[Read More]

‘A few little alerts’ ringing for the RBA on inflation

20 June

Persistent price pressures, stronger household spending and sluggish productivity performance are some of the risk factors worrying Australia’s central bank in the challenging final mile on inflation. As universally expected, the Reserve Bank of...[Read More]

Captain Chalmers lines up soft landing on narrow runway

13 June

Global headwinds will continue to buffet Australia’s economy as Treasurer Jim Chalmers sets a course for a final approach towards low inflation. Dr Chalmers is confident Australia remains on track for “a soft landing on a narrow runway”,...[Read More]

Wages bump unlikely to concern Reserve Bank: economists

6 June

The Reserve Bank’s inflation battle is unlikely to be thrown off course by a bump for Australia’s lowest-paid workers, economists say. Millions of employees on minimum and award wages will get a 3.75 per cent pay rise from July following the...[Read More]

RBA boss says hardship letters ‘very hard to read’

6 June

The Reserve Bank’s governor says letters from struggling borrowers make for tough reading, but push the central bank to achieve its goals to help Australians. Michele Bullock acknowledged the pressure on mortgage-holders from higher interest rates...[Read More]

Monthly inflation ticks higher for second month in row

30 May

A larger-than-expected rise in prices was recorded last month, with consumers slugged with higher prices for essentials like groceries and health. For the second month in a row, the Australian Bureau of Statistics’ monthly consumer price index...[Read More]

Consumer spending the wildcard in rate hike uncertainty

23 May

Australian consumers have been saving rather than spending and a change in behaviour could complicate matters for the Reserve Bank, keeping interest rates higher for longer. The minutes from the central bank’s May meeting confirmed a rate hike was...[Read More]

Rationale behind RBA’s last cash rate call on show

23 May

Lingering price pressures had the central bank alert and watchful at the last interest rate call and the minutes of the board’s meeting will be combed through for further insights. Slated for release on Tuesday, the minutes from the Reserve...[Read More]

Workers’ wages grow 4.1 per cent, silver lining for RBA

16 May

Workers saw their wages outpace inflation during the first three months of 2024, but a lower-than-expected increase will encourage the Reserve Bank board as they mull their next interest rate move. Wages grew 4.1 per cent annually in the March...[Read More]

Economists warn budget could ‘poke inflationary bear’

15 May

A pitch to bring inflation back to target by as soon as Christmas has been muddied by economists worried about new spending and energy bill relief for all. Forecasts embedded in the Albanese government’s third budget show inflation will go back...[Read More]