Australia’s economy is losing steam as aggressive interest rate increases begin to take their toll on growth. Reserve Bank Governor Philip Lowe remains hopeful the country will avoid a recession but believes it’s now a narrow and bumpy path.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank warns of 'further tightening' as interest rate rises to 4.10 per centThe Reserve Bank of Australia has announced its interest rate decision for June, as Australians continue to grapple with inflation and the rising cost of living.
Source: SBSNews - 🏆 3. / 89 Read more »
The Australian Reserve Bank increases cash rate, responding to 2023 inflation | 7NEWSThe Reserve Bank has piled more pain on home loan borrowers - with back to back interest rate hikes. The RBA today lifted the official rate 25-basis points to 4.1 percent. With economists now warning. Australia is teetering closer to recession. 7NEWS The first of the big four banks has moved. Passing-on in full yesterday's Reserve Bank interest rate increase. At the same time, a row has erupted over whether boosting the minimum wage was a key factor in the RBA's decision to inflict more rate pain.
Source: 7NewsSydney - 🏆 16. / 63 Read more »
The Reserve Bank has lifted the interest rate to 4.1 percent | 7NEWSThe RBA has lifted the cash rate for the second month in a row as the inflation rate remains high. Network Finance Editor Gemma Acton joins angelacox7news to discuss how this will affect the economy. TheLatest 7NEWS
Source: 7NewsSydney - 🏆 16. / 63 Read more »
Why Reserve Bank Governor Philip Lowe wants to damage the economy furtherReserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further, writes Peter Martin.
Source: abcnews - 🏆 5. / 83 Read more »
Treasurer Chalmers won’t ‘second guess’ RBA’s rate riseTreasurer Jim Chalmers says he won’t “second guess” the RBA’s latest decision to raise the interest rate. “I cherish and respect the independence of the Reserve Bank – not just in my words but in my deeds,” he said during a media conference on Wednesday. “The reforms to the Reserve Bank that I want to put through the Parliament are actually about making the Reserve Bank more independent, not less – because I think it’s an important feature of our system.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »