Mortgage holders in Australia will be crossing their fingers this week for another month of interest rate relief. The board of the Reserve Bank of Australia (RBA) is due to meet on Tuesday for what’s shaping up to be another close call between another 25 basis point hike or a second month of staying on the…
New Zealand Cash Rate Raised to 3 Percent as Inflation Continues to Climb
August 17, 2022
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Asia & PacificBusiness & Marketscash ratecost of livingDavid SeymourGrant RobertsoninflationInternationalReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) has raised the cash rate by 50 basis points to three percent and warned of risks associated with continued high levels of government spending. After inflation hit a 32-year high of 7.3 percent, the central bank made its fourth consecutive 50 points hike of the year, bringing the…
New Zealand Reserve Bank Raises Cash Rate to 2.5 Percent, ‘Broadly Comfortable’ With Hike Rate
July 13, 2022
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Asia & PacificBusiness & Marketscash rateeconomyinflationNew ZealandReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) made its sixth consecutive cash rate hike in July, moving the rate up another 50 basis points to 2.5 percent. The move was widely expected by most analysts as the central bank continues to combat spiralling inflation, which was last reported in February at 6.9 percent. The monetary…
Reserve Bank of Australia Shocks With 50 Basis Point Cash Rate Hike
June 7, 2022
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AustraliaBusiness & Marketscash rateeconomic policieseconomyinflationJim Chalmersmonetary policyReserve Bank of AustraliaWorld
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The Reserve Bank of Australia has revealed its decision to increase the cash rate by a massive 50 basis points, from 0.35 percent to 0.85 percent, with “further steps” to come. Governor Philip Lowe said the hike came in response to higher-than-expected inflation to “assist with the return” of inflation to the two to three…
Australia’s Central Bank Hikes Rates to Control Soaring Inflation
June 7, 2022
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AustraliaBusiness & Marketscash rateeconomic policieseconomyinflationJim Chalmersmonetary policyReserve Bank of AustraliaWorld
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The Reserve Bank of Australia, the country’s central bank, has increased the cash rate by a massive 50 basis points, from 0.35 percent to 0.85 percent, with “further steps” to come. Governor Philip Lowe said the hike came in response to higher-than-expected inflation to “assist with the return” of inflation to the two to three…
New Zealand Increases Official Cash Rate to Rein in Inflation
May 25, 2022
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Asia & PacificAustraliaBusiness & Economycash rateeconomyinflationInternationalNew ZealandReserve Bank of New ZealandWorld
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The New Zealand Reserve Bank has hiked interest rates by half a percentage point to two percent as it battles to contain inflation, which is currently at a 30-year high of 6.9 percent. It is the second consecutive 50 basis points (bp) increase to two percent, with the Reserve Bank of New Zealand (RBNZ) indicating…
Inflation Will Hit 6 Percent by the End of 2022: Reserve Bank of Australia
May 6, 2022
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AustraliaAustralian inflationBusiness & Economycash ratecost of livinginflationReserve Bank of Australiawages growthWorld
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After the most recent surge in inflation to 5.1 percent during the March quarter, vastly surpassing expectations, the Reserve Bank of Australia (RBA) has revised its inflation forecast to 6 percent over the second half of 2022. “As observed in other advanced economies, consumer price inflation in Australia has picked up markedly since the middle…
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