The government has defended Reserve Bank governor Philip Lowe’s decision to give a private briefing to a group of bankers on interest rate hikes before making public statements. Lowe will be questioned about the hikes to the cash rate at a Senate estimates hearing on Wednesday as pressure mounts regarding his future in the top…
‘Nothing Untoward’ in RBA Head Meeting Bankers: Shorten
February 12, 2023
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Australian Interest Rates: How High, How Long?
February 9, 2023
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AustraliaAustralian Cash rateAustralian economyAustralian Home Loan MarketBusiness & Marketseconomyinflationinterest rateInternationalOpinionphilip loweRBAViewpointsWorld
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Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…
Australian Interest Rates: How High and for How Long?
February 9, 2023
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AustraliaAustralian Cash rateAustralian economyAustralian Home Loan MarketBusiness & Marketseconomyinflationinterest rateInternationalOpinionphilip loweRBAViewpointsWorld
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Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…
‘Better to Do Too Much Than Not Enough’: RBA Governor Rationalises Interest Rate Hikes
November 27, 2022
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AustraliaBusiness & Marketseconomic policieseconomyhigh interest ratesinflationphilip lowerecessionReserve Bank of AustraliaWorld
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The governor of the Reserve Bank of Australia (RBA) has apologised to Australians for higher interest rates as a result of the inflationary effects of COVID-19 stimulus but noted the package was a risk that was worth taking. Speaking at a Senate Estimates hearing in Canberra on Nov. 28, RBA Governor Philip Lowe said he…
RBA Govenor Faces Government Criticism on Interest Rate Policy and Wage Rises
November 23, 2022
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Angus TaylorAustraliaBill ShortenBusiness & MarketsinflationInternationalphilip loweReserve Bank of AustraliaTanya PlibersekWorld
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The governor of the Reserve Bank of Australia (RBA), Phillip Lowe, has faced fierce criticism by the federal government over remarks about Australia’s current economic situation on wage growth and interest rate rises. In a speech made at a business dinner on Nov. 22, Lowe said that the country should not “buy into the idea…
Interest Rates Need to Rise to Fight the ‘Evil of Inflation’: Reserve Bank of Australia
The Reserve Bank of Australia (RBA) has warned that interest rates need to go higher amid the current cost of living crisis to rein in inflation and avoid the risk of recession. In a speech to the Reserve Bank Board dinner in Hobart, Philip Lowe, the governor of the RBA, said the bank “will do…
Blaming Big Business Profits for Inflation an ‘Incoherent Narrative’: Economist
September 18, 2022
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AustraliaAustralian inflationBusiness & MarketsCCP VirusCompanieseconomic policiesinflationInternationalphilip loweWorld
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An economist has criticised claims that business profits are driving up inflation, calling it an “incoherent narrative.” His comments come as businesses come into the firing line of commentators, politicians, and the Reserve Bank of Australia amid rising inflation in the country. Australia’s official inflation rate has risen in lockstep with fellow democratic nations like…
Blaming Business Profits for Inflation an ‘Incoherent Narrative’: Economist
September 18, 2022
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AustraliaAustralian inflationBusiness & MarketsCCP VirusCompanieseconomic policiesinflationInternationalphilip loweWorld
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An economist has criticised claims that business profits are driving up inflation, calling it an “incoherent narrative.” His comments come as businesses come into the firing line of commentators, politicians, and the Reserve Bank of Australia amid rising inflation in the country. Australia’s official inflation rate has risen in lockstep with fellow democratic nations like…
Elevated Business Profit Margins Could Worsen Inflation: Reserve Bank of Australia Governor Warns
September 16, 2022
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AustraliaBusiness & Marketseconomic policieseconomyinflationphilip loweReserve Bank of AustraliaWorld
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The governor of the Reserve Bank of Australia (RBA) has warned local businesses not to drive up inflation by raising their margins too much. During a parliamentary hearing on Sept. 16, which looked into the central bank’s recent interest rate decisions, RBA governor Philip Lowe said that increased profit margins could be a major contributor…
Reserve Bank of Australia Governor Hints at An End to Aggressive Rate Hikes
The governor of Australian central bank, the Reserve Bank of Australia (RBA), has signalled that it might stop raising interest rates aggressively and adopt a more gradual approach. This comes after the central bank lifted the official cash rate for the fifth consecutive time in 2022 on Sept. 6, taking it to 2.35 percent from…
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