Shaun Vahey, Australian National University and Liz Wakerly, Australian National University
Today, all eyes will be on the Reserve Bank amid speculation that the cash rate will be eased by at least 25 basis points. The RBA has often faced pressure from politicians and business leaders to reduce…
Moves by ANZ last week to hike their interest rates was criticised by Treasurer Wayne Swan: but historically, banks have often been at odds with governments.
AAP
In Australia’s economic history, there always been tension between Labor and the banks. My grandfather was an adviser to wartime Labor Treasurer and Prime Minister, Joseph Benedict Chifley, better known…
AWU chief Paul Howes’ call for the Reserve Bank to tackle more than inflation should serve as an ongoing debate about macroeconomic policy.
AAP
The head of the Australian Workers Union chief Paul Howes has called on the Federal government to urgently review the Charter of the Reserve Bank of Australia, suggesting its current policy setting is…
Contrary to a report published by French bank Societe Generale, Reserve Bank Governor Glenn Stevens confirmed that funding costs for Australian banks had increased.
AAP
Predicting the setting for the banks’ standard variable housing loan interest rate used to be simple. Before the subprime crisis in the US and the subsequent GFC, the variable rate was simply the RBA target…
Reserve Bank of Australia Governor Glenn Stevens: knowing how individuals board members think is important.
AAP
Monetary policymaking is imperfect. When board members of a central bank such as the Reserve Bank of Australia sit down to set the appropriate target cash rate each month - as they did this week - there…
Decoupled: The Reserve Bank of Australia’s decision to hold interest rates has been ignored by the banks.
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Kevin Davis, Australian Centre for Financial Studies
Last week, the Reserve Bank defied market expectations to announce the 4.25% cash rate would remain unchanged. But the surprise decision by Australia’s Big Four banks to act independently of the Reserve…
Three of Australia’s Big Four banks have opted to offshore part of their financial operations to Asia.
AAP
Reports of more offshoring of jobs from Australia to other countries are, seemingly, a daily occurrence. Such reports include, for example, the manufacturing of cars and their components and aspects of…
ANZ and NAB have cut their mortgage rates. Will the other two major banks follow suit?
AAP
ANZ and National Australia Bank have passed on the Reserve Bank of Australia’s 0.25% interest rate cut to mortgage holders, lowering their standard variable rates. Treasurer Wayne Swan called on the big…
Banks increasingly choose not to follow the lead of Reserve Bank of Australia Governor Glenn Stevens on interest rates.
AAP
Kevin Davis, Australian Centre for Financial Studies and Josh Fear, University of Canberra
As Reserve Bank of Australia board members gather today to ponder Australia’s cash rate, financial markets are having a bet each way the RBA will cut rates amid the release of data reflecting a softening…
The Reserve Bank of Australia has cut the official cash interest rate by 25 basis points, from 4.75% to 4.5%, in a move matching most economists’ expectations. It was the first cut since April 2009. Westpac…
Glenn Stevens has acknowledged the impact of deleveraging on Australia’s economy.
AAP
I have a hunch that the RBA will follow its conventional “neoclassical” models and raise rates this afternoon, even though the economy is locked in “two speed” mode, and the global economy is racked by…