Even a week ago we couldn’t have predicted this. But after good news from the US, our Reserve Bank now has a chance to cement low unemployment while controlling inflation – without more rate rises.
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The government has announced who Philip Lowe's successor is, deputy governor Michele Bullock - She will be the first woman to hold the position.
Although she has been with the bank four decades, the past two have been in areas remote from the setting of interest rates, meaning she won’t feel compelled to defend the mistakes of the past.
The government has appointed Michele Bullock the new governor of the Reserve Bank – the first woman to occupy the post. Bullock, currently deputy governor, replaces Philip Lowe, who has weathered strong…
It is generally expected Lowe will be replaced, when Treasurer Jim Chalmers takes his recommendation to cabinet
Australian home borrowers are experiencing much, much more interest rate pain than borrowers in New Zealand, Canada, the UK or US – for one simple reason.
Unless we boost productivity, wages growth could sink back to 2-3%. The Productivity Commission has some good solutions – and we’d argue redesigning the Stage 3 tax cuts should be on the list too.
Of all the things we can do to boost productivity, working harder is one of the least likely to make a difference.
Chalmers is in the driver’s seat as another Labor government copes with an economic crisis – very different from the GFC, but similar in being driven by circumstances not of the government’s making.
The Reserve Bank governor has only three months left in the job and he isn’t yet sure inflation is on the way down.
In this podcast, @michellegrattan and @amandadunn10 discuss the PwC scandal, Mark McGowans resignation, the PMs Singapore trip, and the inflation figures from the ABS
The Reserve Bank was made subservient to the government for a reason. Chalmers out to think carefully about abandoning the right to overrule it.
In this podcast, @michellegrattan and @amandadunn10 discuss another interest rate rise form the RBA, Labor's war on vaping and an increase to the tobacco tax, and the likely boost to JobSeeker for people aged 55 and over.
Just as we have the country’s smartest legal minds on the High Court and our best health practitioners setting vaccine policy, the review wants the best economists to set monetary policy.
These include the establishment of a separate Monetary Policy Board and Governance Board, aimed at making both decision-making and governance arrangements as effective as possible
@Michellegrattan and @amandadunn10 discuss the RBA's decision on interest rates, the Aston byelection result, the passing of First Nations leader Yunupingu, and TikTok bans
More than one million borrowers are set to come off ultra-low fixed mortgage rates this year and next, meaning the full effect of the ten rate rises to date is yet to be felt.
The Reserve Bank’s statement indicates there aren’t too many rate rises left. History suggests those hikes could come to an end by early spring.
I graphed the average online rate for a $10,000 deposit against the Reserve Bank’s cash rate, going back to 2010. After seeing what that graph reveals, you’ll want to call your bank.
The Reserve Bank has signalled it will keep pushing up rates until it has reigned in inflation – even if this means weaker economic growth, with income per person barely growing for years to come.
Top contributors
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professor of Economics, UNSW Sydney
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Lecturer in Economics, Monash University
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Professorial Fellow, University of Canberra
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Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
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Senior Lecturer, Research School of Economics, and Research Associate, Centre for Applied Macroeconomic Analysis, Australian National University
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Professor of Economics and National Senior Teaching Fellow, Griffith University
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Adjunct Professor, Swinburne University of Technology
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Emeritus Professor of Finance, The University of Melbourne
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Industry Professor, University of Technology Sydney
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Professor, School of Economics, The University of Queensland
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Program Director, Trade and Investment, United States Studies Centre, University of Sydney
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Dean of Business School, University of Southern Queensland
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Vice-Chancellor’s Fellow, University of Tasmania
