Australia’s inflation rate was pushed down by a 17.9% fall in electricity prices, but even the Reserve Bank’s preferred measure of “underlying inflation” is falling.
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Articles on Reserve Bank of Australia
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The Greens have called for the government to intervene and tell the RBA to cut interest rates. Such a step would undermine central bank independence.
Figures out on Wednesday are likely to show inflation extraordinarily low. They will add to the pressure on the governor to cut.
To boost Australians’ trust in an institution that’s central to all our lives, the Reserve Bank needs more transparent processes to explain its decisions.
Using higher interest rates to contain inflation creates winners and losers rather than sustainably making living more affordable.
The head of the US Federal Reserve has declared interest rates are headed down there. Australia should fall into line soon after – most likely on Melbourne Cup Day in November.
Individual Australians are in a recession, with per-person income slipping since mid-2022. Interest rates are falling overseas. So forget rate hikes: the RBA’s next move is likely to be down.
The result of 3.8% is what the Reserve Bank expected. The so-called underlying rate of inflation actually fell.
The Reserve Bank will decide whether to hike or hold rates next Tuesday. The
bank’s new deputy governor has offered us some clues to which way they might go.
What do you know about your national currency? How about the cash used overseas? We studied wildlife imagery on banknotes around the world. Here’s what we found.
The Conversation’s expert panel expects the Reserve Bank to cut interest rates two to three times over the next 18 months, with the first cut likely in March.
The newer, more frequent monthly measure of inflation is moving further away from the Reserve Bank’s target band.
Living standards have fallen for the fifth successive quarter, the longest decline in 40 years.
Only one-third of the top economists surveyed give Jim Chalmers’ third budget an A or a B, down from two-thirds in 2023. Many say it left big issues unaddressed.
Australia’s economy is already alarmingly weak. A big cut in government spending in next week’s budget could push us from a per capita recession into an actual recession.
Every time the Reserve Bank has pushed up interest rates in order to take money out of the system, it’s also been putting money in, in a way it didn’t use to.
The treasurer says the 2024 budget will be about supporting growth after the weakest economic figures in 23 years outside of a recession.
The Conversation’s expert panel expects inflation to continue to fall, but more gradually, and it expects the RBA to be slow in responding. Unemployment should climb and economic growth weaken.
On one measure the latest inflation rate is just 3.4%, within spitting distance of the Reserve Bank’s 2–3% target.
Per person, we’re spending less this year – even on this year’s much hyped Black Friday sales. If that continues over summer and inflation stays low, a rate hike in February 2024 looks unlikely.
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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Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
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Lecturer in Economics, Monash University
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Professor, Warwick Business School, University of Warwick
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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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Professorial Fellow, University of Canberra
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Associate Professor, School of Economics, University of Sydney
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Professor of Economics and Finance, Tasmanian School of Business and Economics, University of Tasmania
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Higher Education Consultant, Monash University
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Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
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Professor of Institutional Economics, RMIT University
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Vice-Chancellor’s Fellow, University of Tasmania
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Professor of Macroeconomics, University of Sydney
