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BIZARRE: 29 - What They Never Told You

Alan Kohler: The right to strike, and recessions we have to have

Ostensibly Labor's workplace laws are about "getting wages moving", but what it really comes down to is the right for workers to strike.

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.

The New Daily

What's your personal rate of inflation?

Your lifestyle could be limiting the impacts of inflation, or subjecting you to the worst of it. Take our quiz to find out.

ABC News

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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

The Guardian - AU

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.

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.

AAP

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

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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.

ABC News

Reserve Bank of Australia rejects 'scorched earth' policy to tame inflation with faster interest rate rises

The Reserve Bank of Australia will not hesitate to raise interest rates "quite quickly" if there are signs inflation is getting too far out of control, its deputy governor says.

ABC News

Open banking will give control to customers – but it comes with risks

To those who have grown up with the idea that keeping our money safe means a heavy bank vault inside a big stone building, opening up access to third parties sounds scary.

Newsroom.co.nz

You can’t eat GDP: why Australian households are in for a massive, historic hit

Very smart people are nodding and suggesting the economy needs to slow to get inflation under control and, well, damn the consequences

The Guardian - AU

Energy prices top of mind for RBA

The second in command at the Reserve Bank says soaring energy prices could throw out its forecast and drive inflation even higher.

AAP

New data shows the economy is going to slow significantly over the coming two years

ABS and CommSec data shows there are already signs of a slowdown as average household spending goes up 15 per cent in the past five years.

ABC News

In defence of RBA Governor Philip Lowe: an easy scapegoat for record interest rate rises

Reserve Bank Governor Philip Lowe is getting terrible press, most of it undeserved.

The Conversation

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The Conversation

Leading economists back federal government action to curb rising gas and electricity prices

Australia’s top economists have overwhelmingly endorsed intervention to restrain gas and electricity prices, with only three of the 47 leading economists surveyed believing the best thing the government can do is to leave things to the market.

The Conversation

Fighting inflation doesn’t directly cause unemployment – but that's still the most likely outcome

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

AAP

Consumer habits in the RBA spotlight

How consumers and government agencies are spending their money will be closely watched by Australia's central bank as inflation bites.

ABC News

The Australian Greens say the Reserve Bank needs to be more democratically accountable

The Australian Greens say the federal government's review of the Reserve Bank should re-imagine how monetary policy should work for the 21st century.

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The Guardian - AU

Can Labor provide cost-of-living relief without feeding inflation and interest rates? An expert panel responds

Anthony Albanese says the government can’t afford to provide energy payments or other relief because to do so would put even more pressure on the RBA to raise interest rates – is he right? Three economists have their say

The Guardian - AU

New Zealand the ‘kiwi in the coalmine’ as house prices slump and repayments rise

World is watching as experts warn some borrowers could soon owe more than their house is worth

The New Daily

‘Wouldn’t want to trade’: Why Australia’s inflation battle pales in comparison to global woes

Times are tough in Australia right now, but Reserve Bank boss Philip Lowe doesn’t think you’d want to be anywhere else.

ABC News

The Loop: Reserve Bank warns of tough years, bitter debate erupts over repatriation, Twitter staff await fate

Get up to speed on today's headlines with The Loop.

The Guardian - AU

Reserve Bank predicts inflation to peak at 8% – the highest rate since 1990

Interest rates will likely continue to rise to subdue inflation, bank’s quarterly statement says

ABC News

Reserve Bank warns Australians to brace for tough years ahead to get inflation under control

The Reserve Bank expects a couple of tough years for Australians, with real wages continuing to fall as inflation persists, economic growth slows and unemployment starts to rise.

The New Daily

Alan Kohler: Economists disagree on where interest rates are heading – shock

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

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