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UNBELIEVABLE: 55 | History Defined

Philip Lowe is the easy fall guy for our economic woes. But maybe we should have listened to him more closely

Reserve Bank governor has been criticised for saying interest rates might not rise until 2024. But that message came with caveats some did not hear

The Guardian - AU

Rents, energy driving inflation: RBA chief apologises to mortgage-holders

Amidst Australia's inflation crisis, the head of the RBA is urging action to boost power and housing supply.

The New Daily

RBA Governor Philip Lowe apologises to Australians struggling with mortgages

Reserve Bank Governor Philip Lowe has apologised to Australians for giving them unclear guidance that led to hundreds of thousands taking out big mortgages in the expectation that interest rates would stay low until 2024.

ABC News

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RBA governor 'sorry if people listened' to interest rate advice

"I'm certainly sorry if people listened to what we said and they acted on what we had said and now regret what they had done. So that's regrettable. I'm sorry that happened."

Newcastle Herald

Rents, energy driving inflation: RBA chief

The head of the Reserve Bank Philip Lowe has thrown his support behind measures to boost energy and housing supply to cool inflation.

AAP

RBA governor 'sorry people listened' to interest rate advice

Greens senator Nick McKim accused the governor of "inducing many Australians to take out mortgages in the belief that interest rates wouldn't rise until 2024".

The Canberra Times

Conflict of interest: have low cash rates created the ‘everything bubble’?

In new book The Price of Time, economist Edward Chancellor explores the role central banks have played in the snowballing challenges of the past quarter century

The Guardian - AU

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Reserve Bank review to consider changing inflation target and board selection

With the RBA challenged by the pandemic, surging inflation and calls for reform, one expert says its recent report card has been ‘mixed’

The Guardian - AU

Review panel pledges to revitalise RBA

An independent panel set up to examine the Reserve Bank of Australia says it will make recommendations to "revitalise" the central bank.

AAP

Afternoon Update: Labor stings RBA governor on wages remark; Friendlyjordies’ home ‘firebombed’; and the world’s oldest meal

RBA governor Philip Lowe says it is ‘best [to] avoid’ pushing wages up even as workers suffer real wage cut due to inflation

The Guardian - AU

Bridget Archer flags crossing the floor again on national integrity commission – as it happened

This blog is now closed

The Guardian - AU

Michael Pascoe: Interest rates won’t work like they used to

The RBA board should be thinking very, very seriously about before lifting interest rates again, Michael Pascoe writes.

The New Daily

Global shocks likely to drive more frequent interest rate changes, RBA says

Central banks will need to adjust rates more often to respond to unpredictable levels of inflation, Philip Lowe says

The Guardian - AU

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth

The Reserve Bank governor warns the global economic conditions that helped central banks keep inflation low and stable are reversing, making for more economically volatile times, and potentially higher interest rates ahead.

ABC News

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AAP

RBA leaves 50bp rate hike on the table

The Reserve Bank is prepared to do whatever is necessary to ensure the spike in inflation is only temporary and doesn't linger.

The New Daily

Fixed-rate mortgage coming to an end? You might be in for a shock

Homeowners who have been enjoying an ultra-low fixed-rate mortgage may be in for a shock when it comes time to refinance, with experts predicting some recent buyers will find themselves trapped in a "mortgage prison".

AAP

Reserve Bank December rate rise on course

The central bank governor will give a major speech this week and could signal a pause in interest rate hikes is no longer on the table for this year.

The New Daily

Michael Pascoe: Once more for the dummies – we need higher wages

Inflation is more than double the headline wages growth – wages are lagging, not leading, Michael Pascoe writes.

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The New Daily

RBA moves to regain public trust after interest rates advice damages reputation

The Reserve Bank faces an uphill battle to regain the trust of Australians after its doomed interest rates advice.

The Guardian - AU

RBA signals it may pause further interest rate rises

Minutes of November Reserve Bank of Australia meeting say board is ‘prepared to keep rates unchanged’ while it assesses state of economy and inflation

AAP

RBA admits rates forward guidance faults

The prescriptive cash rate predictions seen during COVID-19 caused serious communication challenges, a Reserve Bank review has found.

The New Daily

‘Reputational damage’: RBA admits failure in COVID interest rates outlook

The Reserve Bank has admitted its prediction that interest rates would be unlikely to rise until 2024 wasn't "well suited" to COVID.

AAP

RBA flags rate pause but more rises likely

Mortgage holders are likely to endure more rate hikes but the central bank board wants to give its policy tightening a chance to flow through the economy.

ABC News

Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment

Deutsche Bank expects Australia's unemployment rate to spike to 4.5 per cent by the end of 2023, leading to a recession under the investment bank's definition.

ABC News

Bank profits jump but rising interest rates are a double-edged sword

Australia's big four banks raked in nearly $30 billion in profits over the 2022 financial year as people struggled with the cost of living. And higher interest rates will put more mortgage borrowers at risk.

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