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Articles on Reserve Bank of Australia
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Governor Philip Lowe says it is “not unreasonable” to expect the cash rate to climb to 2.5%. That’s an extra $600 to service a $500,000 mortgage.
Why raise rates now, for the first time in more than a decade? If the Reserve Bank isn’t careful, too many more rate hikes like this might help bring on a recession.
The best way to manage the economy is though an array of tools. Interest rates are just one.
Inflation is well outside the Reserve Bank’s target band and higher than it has been for two decades.
Of the news on prices, wages, interest rates and unemployment, only the unemployment update looks set to be positive for the Coalition.
Do you have what it takes to be Australia’s number two central banker and heir apparent to the governor? Here are the questions you’ll need to prepare to answer.
Australia’s GDP was up 3.4% last quarter of 2021, on the back of pent-up consumer spending. Other factors must drive future growth.
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.
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 Morrison government could get unemployment down to levels not seen since the 1970s.
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%.
Brainard has been pushing the Fed to consider exposure to climate change in its regulation and analysis of banks. That’s sparked fury from Republican senators – and even a Nobel Prize winner.
Outside of a few superstar firms investing heavily in artificial intelligence, investment by Australian businesses has been shrinking for a decade and isn’t set to bounce back.
The 55 leading economists surveyed by the Economic Society see few signs of Australia aping the US, where inflation has surged to its highest level in 30 years.
In its quarterly statement on the economy the Bank is at pains to suggest it won’t be lifting interest rates quickly.
Sub-2% mortgages are a thing of the past. The Reserve Bank’s governor has signalled variable rates will rise sooner than previously expected, but says he doesn’t expect it in 2022.
The Reserve Bank’s Term Funding Facility was meant to support lending during COVID. Instead the funds might be ending up in the accounts of bank shareholders.
Australia faces economic problems down the road if three big, structural reform areas — housing affordability, the tax mix, and decarbonisation — are not addressed.
Top contributors
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Professor of Economics, UNSW Sydney
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Professor, Warwick Business School, University of Warwick
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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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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Senior Lecturer, Canberra School of Politics, Economics and Society and NATSEM, University of Canberra
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Lecturer in Economics, Monash University
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Associate Professor, School of Economics, University of Sydney
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Pat McConnell is a Friend of The Conversation.
Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Consultant corporate finance and economics, Monash University
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Professor of Institutional Economics, RMIT University
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Professor of Economics and Finance, Tasmanian School of Business and Economics, University of Tasmania
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Vice-Chancellor’s Fellow, University of Tasmania
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Adjunct professor, Monash University
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Honorary Professor of Economics, UCL
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Emeritus Professor of Finance, The University of Melbourne
