RBA interest rate

2022 - 5 - 2

next rba interest rate decision

Post cover — Image courtesy of "The Guardian"

Reserve Bank interest rates: RBA lifts official cash rate to 0.35% in ... (The Guardian)

Central bank raises rate by 0.25 percentage points in a move that will stoke cost-of-living pressures ahead of federal election.

“This reflects the RBA’s elevated inflation forecasts.” “This will require a further lift in interest rates over the period ahead.” “This rise in inflation largely reflects global factors,” he said. “We don’t take the political situation to account. An increase was widely expected after consumer price inflation spiked in the March quarter, with both headline and underlying inflation climbing to their highest levels in more than two decades. The central bank lifted its cash rate target from the record low 0.1% it had hovered at since November 2020, during the depths of the Covid pandemic.

Live: Aussies cop first rate rise in 11 years (NEWS.com.au)

Aussie homeowners have been dealt a massive blow, with the Reserve Bank of Australia announcing the first interest rate rise in more than a decade in a ...

“Whether these rate hikes will work is difficult to determine. This will require a further lift in interest rates over the period ahead,” he said. This will weigh on housing price growth, which has clearly slowed in anticipation of these higher borrowing costs.” This would be the lowest rate of unemployment in almost 50 years.” Under the circumstances it was surprising that they didn’t hike more aggressively,” he said. The central forecast is for the unemployment rate to decline to around 3½ per cent by early 2023 and remain around this level thereafter. While a rate rise to 0.25 per cent is relatively minor, economists believe the RBA won’t stop there, with some experts predicting interest rates will rise to 2.5 per cent by the end of 2022. “There is also evidence that wages growth is picking up. “While this increase in rates was small, it signals the start of a series of interest rate rises before the end of 2022. Stream more finance news live & on demand with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. “The resilience of the Australian economy is particularly evident in the labour market, with the unemployment rate declining over recent months to 4 per cent and labour force participation increasing to a record high.

RBA raises cash rate to 0.35pc with more to come (The Australian Financial Review)

Soaring inflation forced the RBA to raise interest rates for the first time since November 2010 on Tuesday, delivering Prime Minister Scott Morrison a ...

Just six months ago Dr Lowe was insisting the cash rate would remain near zero until 2024 and dismissed financial markets pricing in multiple hikes in 2022 as “very unlikely” and an “over reaction” to inflation data. He began singing a different tune in February and has increasingly become more hawkish. Sign up to our Election Brief newsletter. This will require a further lift in interest rates over the period ahead.” The bank also updated its forecasts for unemployment and inflation. It now expects the jobless rate to hit 3.5 per cent by early-2023, headline inflation to hit 6 per cent later this year and underlying inflation to hit 4.75 per cent.

RBA lifts rates just weeks out from election, flags more to come (The Sydney Morning Herald)

RBA governor Philip Lowe has confirmed more rate rises will be coming. Advertisement. The Reserve Bank has lifted the official interest rate to 0.35 per ...

There was a 10.4 per cent drop in the measure of current economic conditions and a 10.3 per cent fall in whether it was a good time to buy a major household item. “Do they go with an economic plan that has worked and is continuing to work, which provides for strength in our economy in the future? “The economy has proven to be resilient and inflation has picked up more quickly, and to a higher level, than was expected. This will require a further lift in interest rates over the period ahead,” he said. But by mid-2024, inflation is expected to be “moderated to around 3 per cent”. The increase on a $500,000 mortgage, if passed on in full by commercial banks, would add $65 to monthly repayments.

Reserve Bank opts for standard 25-basis-point interest rate hike as ... (ABC News)

The Reserve Bank increases interest rates for the first time in more than 11 years, with a 25-basis-point hike taking the cash rate target to 0.35 per cent.

Now it's sort of the opposite," he said. "I get no return on my money. Retiree Grant Agnew is currently receiving just 1.09 per cent interest on his savings. "The board is committed to doing what is necessary to ensure that inflation in Australia returns to target over time," he noted in his post-meeting statement. If passed on in full by banks, the rate rise will add $65 a month to repayments on a $500,000 mortgage, and double that on a million-dollar loan. The Reserve Bank has increased interest rates for the first time in more than 11 years, with a 25-basis-point hike taking the cash rate target to 0.35 per cent.

RBA cash rate: Reserve Bank of Australia hikes interest rates for first ... (7NEWS.com.au)

The Reserve Bank of Australia has made a move on interest rates - and it's bad news for mortgage holders.

“This will require a further lift in interest rates over the period ahead. This would be the lowest rate of unemployment in almost 50 years.” The central forecast is for the unemployment rate to decline to around 3.5 per cent by early 2023 and remain around this level thereafter. “One of the hallmarks of success of coming through the pandemic was that government policy was aligned with the policy decisions of the Reserve Bank,” he said, alluding to JobKeeper and JobSeeker. “But raising the cash rate 18 days before an election - the first hike in over a decade - would put the RBA right in the political mix.” According to home loan rate change calculator Mozo, someone with a principal-and-interest loan with a 3.5 per cent interest rate of $500,000 with 25 years remaining would be paying $68 a month more on their mortgage now that the RBA increased the cash rate by 0.25 per cent. ANZ was the first of the big four banks to call for a cash rate hike. The RBA uses interest rates to manage the rates of inflation. “The resilience of the Australian economy is particularly evident in the labour market, with the unemployment rate declining over recent months to 4 per cent and labour force participation increasing to a record high,” he said. “The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian economy during the pandemic,” he said in a statement. The Reserve Bank of Australia has hiked the interest rate for the first time in more than a decade in response to soaring inflation. “The economy has proven to be resilient and inflation has picked up more quickly, and to a higher level, than was expected.