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Money and Monetary Policy

When will the Reserve Bank start cutting interest rates?

The Reserve Bank board says "a further increase in interest rates cannot be ruled out", but economists and financial traders still believe the next move in rates will be down.
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RBA governor Michele Bullock stands at a podium speaking at a press conference.

ASX snaps two-day losing streak, NAB appoints new CEO

The Australian share market rebounds from two straight sessions of losses led by heavyweight miners, while the Woodside-Santos merger collapses, and NAB promotes British-Canadian executive Andrew Irvine as its next CEO.
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NAB sign with red star logo and 'nab' in white lettering. Red star reflects off corresponding roof and walls.

analysis:Australian households are no longer driving demand and inflation, so why punish them with higher interest rates?

In just half a sentence, the Reserve Bank board dashed the rate cut hopes of millions of mortgage borrowers. Does it risk condemning the Australian economy to recession as well?
RBA governor Michele Bullock holds her hand up while speaking at a press conference.

RBA boss doesn't rule out future increases as rates hold at 4.35pc

The Reserve Bank Board keeps interest rates at 4.35 per cent following inflation falling by more than expected towards the end of 2023.
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Michele Bullock, looking at journalists, wearing a light blazer, standing at a podium, during a press conference

RBA is widely expected to keep interest rates on hold today

RBA is widely expected to keep interest rates on hold today in the first rate decision of 2024.
ABC News Current
Duration: 3 minutes 59 seconds

Bullock says RBA 'didn't make a mistake' with November rate hike, doesn't rule out future increases — as it happened

The RBA has kept interest rates on hold at 4.35 per cent after its first two-day meeting, but says it cannot rule out future rate hikes to keep inflation in check. Look back on how the day unfolded with our blog.
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An older woman with a dark grey bob and glasses speaks into a small microphone in front of a blue screen.

analysis:Why the cost of living crisis could worsen even if the RBA leaves rates on hold

Leaving the cash rate unchanged today is all but a foregone conclusion for the RBA. Behind closed doors, you can't help but wonder if November's rate hike was a mistake as the economy cools, writes Ian Verrender.
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Group of city workers walking on street

This is the magic income that wins the biggest percentage tax cut across all three stages of the revised tax plan

Confused about how much you'll actually be get across all three stages of the tax cuts? Exclusive new data reveals how much you need to earn to reap the biggest percentage return if the redesigned tax cuts are passed into law.
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ABC News Current

This year the RBA won't meet as often as it used to so what will that mean for interest rates and your mortgage?

Households will now only have to grapple with a maximum of eight cash rate changes flowing through to their mortgages. Here's what that could mean for you.
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A person in a long sleeved white collared shirt and black pants walks into the Reserve Bank of Australia as its doors slide open

analysis:'Did the Australian economy just snap'? It may be 'unlikely' but it's looking more and more possible

A raft of official economic data suggests Australia's economy suddenly hit a wall in December. Is the data wrong, or did the Reserve Bank raise rates one time too many in November?
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Inside of a shopping mall at Christmas time. Unsplash.

analysis:Australia's changing economy could undermine Albanese's big gamble

Regardless of whether Australia's economic picture is improving or heading for a crash, it's unlikely voters will have stage 3 tax cuts front of mind come the next general election, writes Melissa Clarke. 
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Two men and a woman in suits stand behind podiums in front of a doorway into Parliament House.

As it happened: ASX closes at record high following tech surge, DP World industrial dispute ends

ASX200 closes at record high following gains on Wall Street after Apple, Amazon and Facebook's Meta post results. The dispute between DP World and the Maritime Union comes to an end, but impact could linger for industry and consumers. New data shows lending for new homes is slowing. 
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The short ends of shipping containers at Outer Harbor near Port Adelaide.

Nurse, teacher, surgeon — is your job likely to win from the revised tax cuts?

Which neighbourhoods, occupations and age groups are more likely to benefit or miss out from the redesign of the stage 3 tax cuts? We've delved into the data to find out how different parts of Australia compare.
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Australians are due to receive a tax cut from July.

ASX drops from record high as Commonwealth Bank leads financial slide

A slump in banking stocks leads the Australian share market off its record high, as the US Federal Reserve douses rate cut expectations. See how the day unfolded on our markets blog.
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Two women look at a share price board outside the ASX in Sydney.

The gap between house and unit prices has reached a record high, as values keep climbing

House prices are on track to rise across the country, propelled by renters and migrants wanting to buy their own homes and buyers trying to get in ahead of interest rate cuts expected later this year.
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young couple put sold sticker on billboard of their newly purchased home.

analysis:Albanese goes all in on Labor's rejigged tax cuts, while cracks form in the Coalition

After unveiling his re-jigged tax plan last week, Anthony Albanese has conducted five press conferences, eight radio interviews and two TV interviews — the kind of media blitz usually reserved for winning an election, writes David Speers. 
A man in an orange tie and a black and white suit stands at a podium.

Inflation may be falling fast with rates set to follow, but people like Ash and Rebecca are still struggling

Inflation comes in lower than expected, with prices rising just 0.6 per cent over the December quarter and 4.1 per cent over the past year.
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Workers make dog treats at a factory in Melbourne.

Australian share market hits all-time high after inflation falls to two-year low — as it happened

The Australian share market sets a new record high after inflation hit a two-year low in the December quarter, as economists forecast interest rate cuts from the Reserve Bank could come sooner than expected.
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Shoppers on escalators in Myer in Perth's CBD.

Christmas retail sales slump on consumer pessimism, ASX near record high — as it happened

Last month's Christmas and Boxing Day sales were much worse than expected for Australian retailers. Meanwhile, the ASX was a whisker away from a record high.
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An image of a shop window advertising discounted clothes in Sydney

Hong Kong court orders Evergrande's liquidation, posing threats to China's economy and global markets

A Hong Kong court has ordered one of China's biggest property developers, Evergrande Group, to liquidate, which could have severe consequences not just for China, but other economies including Australia. 
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People walk by an orange logo for Evergrande.

analysis:Dutton is pursuing Albanese over his 'broken promise' but whether that will sway the Dunkley by-election remains to be seen

The vast majority of taxpayers in Dunkley will be better off under the government's tax cuts. That's the first problem for Peter Dutton. But then there is the question of the opposition's response, writes Michelle Grattan.
Albanese and Dutton's heads in profile are aligned in the centre of the frame, Albanese scratching his neck.

PM Anthony Albanese announcing supermarket industry enquiry

PM Anthony Albanese announcing the ACCC to conduct a 12 month price inquiry into the supermarket industry.
ABC News Current
Duration: 1 minute 32 seconds

As it happened: Australians are hoarding cash and so are criminals, says RBA

Between $7 billion and $11 billion of the nation’s cash is being used in the shadow economy to fund tax avoidance or other illegal purposes such as buying illicit drugs, according to the Reserve Bank. The news comes after the Australian stock market rose for a fifth consecutive day, hitting a three-week high before the Australia Day long weekend
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Australian banknotes, mostly $50 bills, strewn over a flat surface.

ASX finishes flat as mining rally offsets falls elsewhere, markets eye stage 3 tax tweaks — as it happened

The Australian share market closes fairly flat as investors sell out of other sectors to pile into mining stocks. This is how the trading day unfolded on our live blog.
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Two women look at a share price board outside the ASX in Sydney.

As it happened: ASX closes higher, households are more indebted, so do we need tougher lending rules?

Australian households' debt-to-income ratio has reached 185 per cent of disposable income. Is it time to impose tougher lending restrictions? Read about this and how the Australian share market closed higher on Tuesday after an optimistic streak on Wall Street that pushed US stocks to a fresh record high.
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Drone view of housing rooftops and roads