New Treasurer Jim Chalmers with Treasury Secretary Steven Kennedy, Reserve Bank Governor Philip Lowe, and Australian Competition and Consumer Commission chair Gina Cass-Gottlieb at parliament house on Wednesday.
Politics with Michelle Grattan: Treasurer Jim Chalmers on the ‘spiky’ parts of Australia’s inflation problem
Michelle Grattan speaks with the New Treasurer Jim Chalmers as he intends to deliver a "pretty blunt, pretty frank" assessment of Australia's challenges to parliament soon after it returns
The share of the population in work has hit an all-time high as the share of the workforce underemployed has hit a 14-year low. The fresh low in unemployment will bring higher interest rates, and perhaps higher wages.
The Reserve Bank, as expected, has thrown its grenade into the election campaign, but neither government nor opposition can be sure which side will be more damaged, or advantaged, by the explosion.
Word from The Hill: On the rate rise, Albanese’s launch and what a Frydenberg loss would mean for the Liberals.
Michelle Grattan discusses politics with politics + society editor, Amanda Dunn
The government used to set interest rates but it doesn’t anymore. If UAP really did try to deliver on an election promise to cap interest rates at 3% for five years, what would the consequences be?
Philip Lowe mightn’t be a household name but the Reserve Bank governor finds himself catapulted right into the centre of this election campaign, in which events are proving more important than policies.
Politics with Michelle Grattan: Economist Saul Eslake on why Reserve Bank needs to raise rates next week.
Michelle Grattan speaks with independent economist Saul Eslake on whether the reserve bank will next week raise interest rates for the first time in an election campaign for the first time since 2007
Enormous price rises beyond Australia’s control are cutting our standard of living. Cutting it further by rising rates won’t help.
Politics with Michelle Grattan: Stay calm, petrol is headed down, budget is improving – economist Chris Richardson.
Michelle Grattan speaks with Deloitte Access Economics director Chris Richardson about the Australian economy, the budget, and petrol prices
Unemployment is far lower than predicted and isn’t setting off the kind of inflation seen in the United States. There’s no telling how much lower it can go.
Reserve Bank Philip Lowe addressing the National press Club in Sydney on Wednesday.
Bianca de Marchi/AAP
The Reserve Bank governor is optimistic about 2022 in part because COVID has loosened the government’s purse strings.
Wes Mountain/The Conversation, CC BY-ND
Jobs, economic growth, wages growth and even home price growth are likely to look less threatening by the time we are asked to vote.
South African Reserve Bank Governor Lesetja Kganyago.
Andrew Caballero-Reynolds/AFP via Getty Images
Central banking was given to technocrats whose job is to make the difficult decisions. But there are parameters. And within these, central bankers must act independently, without fear or favour.
Much of the jump in inflation from 1.1% to 3.8% is transient, and the lockdown in NSW will suppress what’s left. But even if you still fear inflation, there are things you can do.
The Reserve Bank has limitless access to Australian dollars and a reputation to protect.
Now that we are recovering from recession, there’s no telling how low we could push the unemployment rate. One estimate is 3.5%.
Former prime minister Paul Keating has launched an extraordinary attack on the Reserve Bank, accusing it of having “one of its dalliances with indolence”, and describing it as “the Reverse Bank”.
Its central scenario is the worst recession in 70 years. Its worst case scenario has the effects lingering for a decade.
Modern Monetary Theory is suddenly popular because it implies governments can spend as much as they need to. But that spending comes with risks.
Sipa USA John Lamparski/SOPA Images
Scott Morrison has called upon the Australian embassy to investigate the assault of a Channel 7 news crew by Washington riot police.