The Reserve Bank has used its last board meeting of 2024 to keep interest rates steady as economists,and home buyers,look for relief early next year.
No matter how much Jim Chalmers tries to find a golden thread in these bleak economic numbers,there’s no getting away from the fact consumers are scarred.
As major reforms to the Reserve Bank finally passed the Senate,governor Michele Bullock has warned low unemployment is not helping bring down inflation.
RBA governor Michele Bullock has dismissed claims that cryptocurrency is an “alternative currency”,even as the price of bitcoin soars to a high.
The central bank has held the official cash rate at 4.35 per cent as Reserve Bank governor Michele Bullock declares inflation is not falling fast enough.
The official measure of inflation,at 2.8 per cent,should force a cut in interest rates. But the Reserve Bank is tracking its own inflation measure.
The Reserve Bank is facing a sea of red ink that will affect its operation and the federal budget bottom line for years.
Central banks have created their own measures of inflation. But new research shows their metrics are missing the real price increases experienced by ordinary shoppers.
The RBA has kept interest rates at 4.35 per cent,saying while inflation will fall,it is unlikely to be “sustainably” low for some time.
“Australians are living through the most protracted period of economic misery since 2011,” says economic think tank CEDA.
The lack of a tax-cut-induced spending spree shows consumers have well and truly got the message about tightening their spending.