The Reserve Bank of Australia (RBA) has kept its official interest rate at 4.35% but warned of further hikes if inflation persists. Governor Michele Bullock indicated a rate rise is possible due to ongoing price pressures, despite a slight increase in unemployment. The decision offers little immediate relief to mortgage holders.
The Reserve Bank of Australia kept its official interest rate at 4.35% but warned of further hikes if inflation persists. Governor Michele Bullock stated that price rises are still too fast, indicating a potential increase if necessary. The RBA is not alarmed by a rise in unemployment to 4.5%, viewing the job market as still tight.
The Reserve Bank of Australia maintained its cash rate at 4.35% on Tuesday, citing persistent inflation. The RBA indicated a willingness to raise rates further if necessary to ensure price stability and full employment, while also noting the early stage of global oil supply resolutions.
The Reserve Bank of Australia maintained its cash rate at 4.35% on Tuesday, signaling readiness to hike rates if necessary to control inflation and ensure full employment. The decision aligns with economist forecasts amid ongoing efforts to curb rising prices.
The Reserve Bank of Australia maintained its official interest rate at 4.35% due to slowing economic activity and a four-year high in unemployment. This decision offers little immediate relief to mortgage holders facing increased repayments from previous hikes.
For an indication of how much the energy crisis is shaping the path of monetary policy, look no further than Australia. On May 5, the country’s central bank raised interest rates for the third consecutive time, unwinding last year’s monetary easing. The Reserve Bank of Australia (RBA) said “higher fuel prices are adding to inflation and there are indications that this is likely to have second-round effects on prices for goods and services more broadly”. The RBA’s decision to keep tightening...
Reserve Bank of Australia raises cash rate for third consecutive meeting as governor says increases ‘are not going to do anything for inflation’ in next six monthsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastUse our loan calculator to see how rate hikes could affect youThe Reserve Bank governor has said surging oil prices in the wake of the US-Israel war on Iran have made Australians poorer with “no way out”, after handing down an interest rate rise and warning more hikes could be needed.A week out from the federal budget, Michele Bullock also warned inflation would get worse if governments’ cost-of-living relief was not “targeting where it’s most needed”. Continue reading...
Monetary policy trade-offs are getting worse. The Reserve Bank of Australia is confronting rising inflation and downgraded growth forecasts. And there's nothing it can really do about it.
Reserve Bank of Australia raises rates for third consecutive meeting, lifting them to early-2025 levelsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastUse our loan calculator to see how rate hikes could affect you The Reserve Bank has delivered a third straight interest rate hike to contain growing inflationary pressures linked to higher fuel prices, even as it warned the Iranian war would deliver a major blow to the economy.The widely expected decision to lift the cash rate to 4.35% from 4.1% comes as the central bank revealed a gloomy new set of forecasts that showed intensifying cost-of-living pressures alongside weaker growth. Continue reading...
