Reserve Bank of Australia governor Philip Lowe is unrepentant about the prospect of further interest-rate rises. In fact, he says there’s a risk the bank is not doing enough.
As well as her interviews with politicians and experts, Politics with Michelle Grattan includes “Word from The Hill”, where she discusses the news with members of The Conversation’s politics team.
The Reserve Bank of Australia tips economic growth to slow, inflation to remain high, spending to stagnate, unemployment to increase and real wages to fall further.
Michelle & Amanda 06.09.2022.
Michelle discusses Tuesday’s RBA rate rise – the fifth increase in a row – as well as the imminent passage of Labor’s climate legislation, and industrial relations negotiations coming out of last week’s summit.
The Reserve Bank of Australia has delivered a ‘double-whammy’ interest rate rise, with up to five more to come in 2022.
Dark warnings about rising labour costs ignore the importance of profits in driving higher prices.
On the economy, people smugglers, parliamentary sitting, and Julian Assange.
Michelle Grattan discusses politics with politics + society editor, Amanda Dunn
The Fair Work Commission has announced a rise in the minimum wage of 5.2% or $40 a week, taking it to $812.60 a week or $21.38 an hour
There’s no reason why Australian lenders couldn’t offer 30-year fixed-rate mortgages, as they do in the US. It could save borrowers thousands of dollars in interest a year.
The case for the RBA increasing interest rates certainly exists. But it’s far less pressing than in the United States.
Australia’s Consumer Price Index rose 1.3% in the three months to December, bringing inflation for the 2021 year to 3.5%.
Australia faces economic problems down the road if three big, structural reform areas — housing affordability, the tax mix, and decarbonisation — are not addressed.
The independence of Australia’s central bank doesn’t make it infallible. It should welcome peer review.
The last time Australia’s unemployment rate was below 5% was June 2011.
The Reserve Bank governor’s ‘forward guidance’ risks him not adapting to changing circumstances, or undermining his credibility.
The Reserve Bank of Australia is ready to taper off the ‘unconventional’ monetary policy measures introduced in response to the COVID-19 crisis.
The government has released the latest Tax Office breakdown of the numbers coming off the program, amid concerns its end in late March will see a rise in unemployment.
The Reserve Bank Australia has exhausted the limits of monetary policy, There’s no magic pudding, says governor Philip Lowe.
The most obvious reason for wage stagnation is the decline in unionisation over the past three decades. But you won’t hear that from government economists.
After decades of research showing the link between union power and wages growth, government economists don’t want to talk about it.
Philip Lowe is grabbing a rare opportunity to push the floor under unemployment lower.
Philip Lowe is on the cusp of permanently changing Australia. He stands a good chance of being one of the best governors since the first, who ushered in the goal of full employment.