While the value of the Australian dollar has fallen significantly against the U.S. dollar this year, the depreciation is expected to contribute “only a very modest uplift” to inflation, according to a senior Reserve Bank official. Christopher Kent, the assistant governor of the Reserve Bank of Australia (RBA), said while the Australian dollar has fallen…
Falling Aussie Dollar Has ‘Very Modest’ Impact on Inflation: RBA
October 23, 2022
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AustraliaAustralian dollarAustralian federal budgetBusiness & MarketseconomyinflationJim ChalmersReserve Bank of AustraliaWorld
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Concerns about Living Cost Pressure Rise as More Australians Take up Second Jobs
An increasing number of Australians are taking up a second job, which, to some experts, indicates the impact of rising inflation and costs of living on households across the country. According to the Australian Bureau of Statistics (ABS), the number of Australians with multiple jobs rose to a record of 900,000 individuals in the June…
Reserve Bank of Australia Risks Raising Interest Rate Peak With Latest Decision: Economists
Economists are concerned that the lower-than-expected interest rate hike in October could cause the Reserve Bank of Australia (RBA) to prolong its tightening cycle and eventually end up driving rates higher to bring down demand for goods and services. Following the RBA’s latest 0.25 percent increase in the official cash rate, some economists revised their…
Reserve Bank of Australia Risks Prolonging Tightening Cycle With Latest Decision: Economists
Economists are concerned that the lower-than-expected interest rate hike in October could cause the Reserve Bank of Australia (RBA) to prolong its tightening cycle and eventually end up driving rates higher to bring down demand for goods and services. Following the RBA’s latest 0.25 percent increase in the official cash rate, some economists revised their…
Reserve Bank of Australia Slows Down Its Tightening Policy With 0.25 Percent Rate Rise in October
The Reserve Bank of Australia (RBA) has announced the sixth consecutive interest rate hike at its board meeting on Oct. 4, lifting the official cash rate to 2.6 percent. Prior to the meeting, the RBA said it would opt between a 0.25 percent and 0.5 percent rate rise. It eventually chose the former option, which…
Reserve Bank of Australia Expected to Make Another Oversized Rate Hike in October
Economic experts are expecting the Reserve Bank of Australia (RBA) to maintain its aggressive interest rate policy with another oversized rate hike in October as troubling global economic conditions remain. The RBA said it would opt between a 0.25 and 0.5 percent hike at the next board meeting on Oct. 5 and that it would…
Reserve Bank of Australia Offical Says Higher Interest Rates Could Benefit Home Buyers
A senior Reserve Bank of Australia (RBA) official has said it would take about two years for the drop in house prices caused by interest rate hikes to offset increased mortgage repayments. Speaking at Australian Financial Review’s property conference in Sydney, Reserve Bank of Australia’s head of domestic markets Jonathan Kearns said that the amount…
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…
Australian Unemployment Rate Rises to 3.5 Percent in August Despite More Jobs Added
The Australian unemployment rate rose slightly to 3.5 percent in August from July’s 48-year-low of 3.4 percent. However, it was still well below the full employment threshold. According to the latest data from the Australian Bureau of Statistics (ABS), there was a significant lift in employment in August as 33,500 jobs were added to the…
Reserve Bank of Australia Lifts Cash Rate to 2.35 Percent
The Reserve Bank of Australia (RBA) has announced the fifth consecutive interest rate increase and hinted at further rises in the upcoming months. At its board meeting on Sep. 6, the RBA decided to raise the official cash rate by 0.5 percent to 2.35 percent, the highest level since 2015. The decision was made as…
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