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HISTORICAL FACTS: 58 - The Untold Story

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

What does the federal budget deliver for business? Child care, skills and tax the centrepieces

Addressing skills shortages is the government's key budget focus to assist business, with tax stings in store for some multinationals, cash-in-hand businesses and investors.

ABC News

Petrol price spike looms for motorists, RBA comments on inflation

Motorists have a small window to fill up on cheaper petrol as many cities hit their first new fuel cycle after the fuel tax cut expired.

The New Daily

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Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

Pedestrian.tv

Sydney’s property prices dropped 10% this year, with $450 a day lost from average home

Decline comes as RBA documents indicate values may sink as much as 20% nationally from their February peak by end of 2024

The Guardian - AU

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

AAP

Australia’s jobless rate is steady as she goes – and so too is the economy

Unemployment has come in at 3.5% for the second month in a row. That’s good news for economic growth – if people have jobs, they’re more likely to spend

The Guardian - AU

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How does the RBA set interest rates each month? Why was this month's decision a close call?

The Reserve Bank reveals its recent decision to slow down interest rate increases was "finely balanced" and explains the process by which it arrives at its monthly decisions.

ABC News

RBA rate rise ‘finely balanced’ with risk of slowdown but more increases still likely, minutes say

October meeting notes show Reserve Bank’s smaller hike took into account expected reduced growth due to global inflation

The Guardian - AU

Reserve Bank nervous about rate hike lag

The Reserve Bank wants to give its earlier aggressive rate hikes a chance to flow through and to see how households respond.

AAP

Fixed or variable? A look at how home loan rate options across Australia stack up

After crunching the numbers, it’s clear that mortgage holders shouldn’t just do nothing, says RateCity’s head of research

The Guardian - AU

Australian banks hit with payment transfer outage as RBA blames technical error

Reserve bank says system is back up and running on Thursday, and they are working to clear the backlog

The Guardian - AU

Osko fast payment crash blamed on Reserve Bank technical problem

A major outage of online fast inter-bank transfer system Osko leaves payments in limbo, with the Reserve Bank admitting fault.

ABC News

Dealing with a world in which mortgage rates are rising and house prices are falling

With the RBA boosting interest rates another 0.25 per cent on Tuesday and the cash rate now sitting at 2.6 per cent many home buyers fearful

The New Daily

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ABC News

Reserve Bank acknowledges its rapid rate hikes could force some people to sell their homes

Australia's Reserve Bank says its rapid interest rate rises could see some mortgage owners fall into arrears, and some even having to sell their homes.

The Guardian - AU

One-quarter of homeowners could be spending 30% of their income on loans by late-2023, RBA says

Reserve Bank warns households with high debt relative to income are ‘particularly vulnerable to shocks’

AAP

New roundtable to boost housing investment

The Albanese government will explore opportunities to co-invest in housing projects alongside private investors.

AAP

Risk Optus breach can weaken banks: RBA

The Reserve Bank of Australia is warning that large-scale data breaches and cyberattacks could destabilise financial institutions.

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The Guardian - AU

Yes, the heat is coming off the housing market. But it wasn’t just on fire last year - it was burning uncontrolled

We have an economy where even a slight fall in prices will do little to repair the damage of the past two years

ABC News

Which banks are passing on the interest rates to borrowers? What about savers?

The major lenders were quick to pass on the interest rate rise to mortgage holders, but only certain savers will see the benefits of the Reserve Bank of Australia's latest hike.

ABC News

ASX jumps as New Zealand lifts interest rates to seven-year high, Elon Musk to buy Twitter for $67b

New Zealand lifts interest rates by another 0.5 percentage points, Australian shares follow Wall Street sharply higher as investors bet central banks will slow down their pace of interest rate hikes, and Elon Musk revives deal to buy Twitter at original price ahead of courtroom showdown.

ABC News

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

ABC News

As Reserve Bank lifts interest rates again, more households seek relief from Foodbank

The Reserve Bank of Australia is still prepared to keep lifting interest rates, even as more households struggle financially, with many now seeking food relief.

AAP

RBA decision risks higher cash rate peak

The central bank has shifted gears and moderated its rate hikes, with some economists concerned this could prolong the rate hiking cycle.

The Guardian - AU

Reserve Bank’s dovish interest rate rise gives Jim Chalmers more cause to grin than grimace

The treasurer was used to empathising with borrowers after the RBA’s ‘supersized’ rises – instead, he got to talk about the budget

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