RBA Governor shows true grit to keep rates on hold at a base rate of 4.35%
At this time in 2023 with the distraction of the general public watching the running of the 163rd Melbourne Cup the Reserve Bank of Australia Board (RBA) took a swipe at lingering inflation by raising the base cash rate by 0.25% to a 12 year high of 4.35%. It was the first meeting of the […]
RBA Governor shows true grit to raise rates by a further 0.25% to hit 4.35%
With the distraction of the general public, taking time out to watch the running of the 163rd Melbourne Cup the Reserve Bank of Australia Board (RBA) has taken a swipe at lingering inflation by raising the base cash rate by 0.25% to a 12-year high of 4.35%. The biggest takeaway from the rate rise is […]
Inflation rate gives the RBA a slam dunk to increase rates on Melbourne Cup Day 2023
According to Moody’s Analytics report on Australia Consumer Price Index the uptick in quarterly price growth will put pressure on the Reserve Bank Australia (RBA) to hike rates further when they meet next on 7 November, Melbourne Cup Day. Aussie inflation isn’t playing ball, the Moody’s Analytics report outlines. Across the September quarter, underlying inflation rose […]
The Reserve Bank of Australia (RBA) with a new Governor decides to… do nothing
With the former Reserve Bank governor Philip Lowe ending his seven-year term on the 17 September, and with the appointment of Michele Bullock to the position, it was generally anticipated that the first meeting held today under the auspices of the new RBA governor would be one pencilled in for a soft landing. And a […]
The Reserve Bank of Australia (RBA) lifts rates for a 12th time since May 2022 now 4.1%
Even with the threat of his seven-year term ending on 17 September this year, and hoping for a new tenure, Reserve Bank governor Philip Lowe presided over a board that has increased the official interest rate by 0.25% to 4.1%, a rate not seen at this level since 2012. That takes some grit when so […]
RBA interest rate rise was full of mettle for a board destined for the chopping block
Most economists, 87% to be precise according to one survey, expected The Reserve Bank of Australia (RBA) to come to heel at their monthly gathering today, as there was a big stick being wielded around their head by the Federal Labor Government flagging changes to the board positions as soon as legislation allows. But the […]
The Reserve Bank of Australia repeats Groundhog Day for the tenth time in a row with another official cash rate increase
Little humour will be lost referencing the Bill Murray movie based on a Groundhog that looks much like an overgrown rat drawn out of a barrel to predict the end of the winter season. And while the analogy of a big rat predicting the end of winter may have little parallel to the reasoning behind […]
CBA announces rate changes following the Reserve Bank of Australia’s cash rate increase
Following the Reserve Bank of Australia’s (RBA) decision to raise the official cash rate by 0.25% per annum (p.a.), CBA will lift its home loan variable interest rates by 0.25% p.a., effective 17 February. In addition, the bank will increase the interest rates across a number of its savings products, by up to 0.75% p.a. […]
The Reserve Bank of Australia holds its firm line with the ninth official cash rate increase in a row
The Reserve Bank of Australia (RBA) has met nine times since the official cash rate was 0.10% before the May 2022 increase, and nine times in a row they have lifted interest rates at each meeting. Culminating today with a rate increase from 3.10% to 3.35%. The only relief for borrowers was no rate rise […]
RBA interest rate increases paused over holiday season to break the run of eight consecutive rate hikes
The Reserve Bank of Australia (RBA) has given home loan borrowers a breather over the New Year’s break following its previous relentless pummelling of eight consecutive rate rises from May to December 2022. There was no interest rate increase in January 2023, but that was simply because the RBA board didn’t meet to discuss the […]