Reserve Bank of Australia

Home owners are ringing in the festive period with a present they cant re-gift, after the RBA announced a rate hike for the month of December.

A long-term low-interest rate environment didn’t adversely affect Australian banking profitability, the RBA has found.

Treasury has reacted to the RBA decision assessing a 2023 economic slowdown, but for ‘how long?’ and ‘by how much?’, economists have posed.

While current high inflation came as ‘a shock’ its pressure could get ‘more variable’, the central bank has warned.

The central bank has said it expects about half of all outstanding fixed loan debt to change to variable rates in 2023.

The RBA has given more background to factors affecting its ideal inflation target, going forward.

The central bank’s February 25-bp cash rate hike has started flowing through to the first major banks.

Some Australians borrow more to “keep up with the Joneses” but not for houses, latest data has revealed.

The central bank says it’s the level of cash rate — not the speed it’s achieved — that matters, Australian senators have heard.

The official cash rate has been hiked to 3.85 per cent, the highest level since 2012. 

RBA governor Philip Lowe has issued an apology to borrowers who “acted on what we’d said and now regret what they had done.”

Most big four banks expect a 0.25 per cent rate hike today, but recent inflation data may have put 50bps back on the table.

Australia’s central bank has confirmed a cash rate hike to start 2023, as sundry economists had expected.

Financial associations have called for change to the RBA decision process via their submissions to the review panel.

The think tank has firmly laid down its economic productivity suggestions on the eve of RBA governor Philip Lowe’s CEDA dinner speech.