RBA

…Mr Toohey said the RBA was at risk of “burying” poorer and younger households. The data run has been bad: soft data like PMIs have been stalled for months; ...

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Economists surveyed by Bloomberg expect the RBA to lift rates by 25bp to 3.60%. The main interest, therefore, will be the forward guidance in the ...

It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. [AUD/USD](/au/forex/markets-forex/audusd1) from the Feb .7157 high as a correction or countertrend. As a result, our base case is that the RBA's statement on Tuesday will look and sound very similar to the one in February. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Since then, the RBA has delivered a cumulative 325 basis points of rate hikes, including four consecutive 50bp rate rises between July and September.

Struggling home owners face more bad news this week as the Reserve Bank prepares yet another hike in interest rates.

“In this case it may well be … Almost as many (86 per cent) expect the quantum of the hike will be 0.25 percentage points, taking the cash rate target to 3.60 per cent – which would be the highest level in over a decade. The vast majority of experts expect rates to rise again on Tuesday, with 93 per cent of economists telling a Finder survey that the RBA will continue to hike in a bid to curb inflation. For many people, this will be an incredibly difficult hurdle to clear. For some, it could prove impossible.” With that in mind, households could be in for a reprieve on the back of some softer-than-expected economic data in the past fortnight.

That's despite growing evidence that the economy is weakening and households are burning through any financial buffers they once had. Guest: Tim Skelton, RN ...

Australia Rates Insights - RBA set to deliver another 25bp hike on 7 March, but guidance could have a less-hawkish tilt. March meeting preview I remai.

Its post-meeting press release indicated that the board expected further increases (plural) in the cash rate and over the coming months (implying a greater sense of urgency). ACY Securities Pty Ltd (“ACY AU”) is authorised and regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). For example, the governor could simply return to his December guidance, that the board expects to increase interest rates further (singular or multiple) but is not on a pre-set course (allowing more flexibility and suggesting greater data dependence). The pair fails to benefit from a broadly subdued US Dollar, as the market sentiment remains mixed and Brexit optimism fades. China’s National Peoples Conference has set an economic growth target for the country over the next year of 5%. Moreover, the latest monthly CPI inflation data (for January) strongly suggest inflation pressures have peaked, and building approval and housing finance data last week suggest a sharp downturn in dwelling construction ahead. However, the local data (AUS) indicates a growing loss of momentum and shows evidence that inflation pressures have peaked. From the RBA's perspective, while growth and inflation data have lost momentum, the economy is still operating beyond full employment, and the level of inflation remains well above the target band. The Q4 GDP data revealed a further slowing of domestic demand and evidence of less intense wage and price pressures. The minutes from the last meeting revealed that the board considered whether to hike by 25bp or by a larger 50bp in February before settling on a 25bp move. It appears that the The IMF has made similar observations, and I think the RBA pays close attention to IMF forecasts.

The Reserve Bank could raise interest rates for a 10th-straight meeting on Tuesday just as cracks emerge in Australia's $2.2 trillion economy.

[Browse today](https://rewards.thewest.com.au/) [Choose today](https://thewest.com.au/manage-email-preferences) Attention will focus on whether governor Philip Lowe persists with his guidance of further hikes ahead following weaker economic readings through February.

Global markets enjoyed somewhat of a reprieve last week, with steadier bond yields helping stocks lift for the first time in three weeks.

[policy meeting](/economic-calendar/rba-interest-rate-decision-171), the run of recent soft data could see it issue a somewhat more dovish policy statement. [testimony](/economic-calendar/fed-chair-powell-testifies-1739) by Fed chair Powell. In Europe, meanwhile, French [consumer inflation](/economic-calendar/french-cpi-112) for February surprised on the high side. In fact, according to the survey, they are THE most financially optimistic generation. Also on the firm side, while the monthly gain in average hourly earnings is expected to remain steady at 0.3%, this would imply an increase in the annual rate from 4.4% to 4.7%. Markets anticipate a smaller but still solid 200k gain in jobs, following the blockbuster 500k gain in January. Gen Zers, according to a recent survey, are overly optimistic about being wealthy. That said, US [10-year](/rates-bonds/u.s.-10-year-bond-yield) bond yields did briefly break above 4% last week for the first time since November. [speech](/economic-calendar/rba-governor-lowe-speaks-392) on Wednesday. [payrolls](/economic-calendar/nonfarm-payrolls-227) report. [CPI](/economic-calendar/cpi-73) for January (with caveats due to its apparent volatility) was also softer than expected, while building approvals also slumped by a lot more than expected. [core durable goods orders](/economic-calendar/core-durable-goods-orders-59) and [pending home sales](/economic-calendar/pending-home-sales-232) both stronger than expected.

In the statement accompanying the February RBA rate hike Governor Lowe as good set out the next two rate hikes, at least, saying:.

The S&P/ASX 200 Index (ASX: XJO) is enjoying a strong start to the week ahead of tomorrow's RBA rate call. Here's what to expect.

That marked the ninth consecutive month of rate hikes in the RBA’s ongoing struggle to bring soaring [inflation](https://www.fool.com.au/definitions/inflation/) back within its target range. Indeed, polled economists almost unanimously say ASX 200 investors should be prepared to see the RBA follow through with yet another 0.25% interest rate boost. “The RBA does seem more concerned about inflation. That’s when the Reserve Bank of Australia (RBA) announces its next interest rate decision. [last month](https://www.fool.com.au/2023/02/07/asx-200-falls-following-ninth-consecutive-rba-interest-rate-hike/) saw the central bank increase the official cash rate by another 0.25%, lifting it to 3.35%. The S&P/ASX 200 Index (ASX: XJO) is enjoying a strong start to the week.

Economists expect the Reserve Bank to soften its forward-looking guidance given a run of softer economic data.

Markets indicate a peak rate of 4.1 per cent by May, which would mean at least three rate increases, including Tuesday’s expected move. Speaking at a lunch event on Monday, Westpac chief economist Bill Evans said he expects the RBA to position for more rate rises this year. He said cuts will arrive from 2024 as inflation falls to 4 per cent. Connect with Joanne on [[email protected]](mailto:[email protected]) UBS economist George Tharenou believes the board will use the statement to “set-up for a pause in April”, stepping back from its hawkish February message and pluralisation of the words “increases” and “months”. As such, markets are expected to turn on whether the key line, that “further increases in interest rates will be needed over the months ahead”, is maintained in the statement.

After every board meeting, Reserve Bank governor Philip Lowe releases a statement explaining any changes. They reveal how the central bank's battle against ...

[Shane Wright](/by/shane-wright-h170pw)– Shane is a senior economics correspondent for The Age and The Sydney Morning Herald.Connect via While supposedly “temporary”, inflation has now been above the RBA’s 2 to 3 per cent target band since December 2021. By the middle of next year, inflation was tipped to be just inside the RBA’s 2 to 3 per cent target band. “Households paying off a loan on either their own house or on an investment property are right at the pointy end of interest rate increases. But in February, Lowe cut any suggestion of a rate pause. It was a key reason for the bank’s decision in May, during last year’s federal election campaign, to [start increasing interest rates](/link/follow-20170101-p5ahzh). While rates are climbing, a small number of economists believe the Reserve may start rate cuts by year’s end. Inflation probably peaked at This was confirmed in RBA forecasts released soon after that month’s meeting. The jobless rate is expected to hit 4.1 per cent in June next year and keep climbing to 4.4 per cent in mid-2025. Forecasts after this year’s February meeting showed inflation was expected to be at 6.7 per cent by the middle of this year and at 3.6 per cent by mid-2024. At the time, it expected inflation to reach 4.3 per cent by the June quarter this year after peaking at 5.9 per cent in the December quarter.

The RBA is expected to lift the cash rate by another 0.25% today, even though there is clear evidence the economy is slowing and consumer spending and ...

“We expect the cash rate to reach that point in April and stay there for the rest of 2023. Quarter on quarter GDP growth for the final three quarters of 2022 tell the story – 0.9% in the June quarter, then 0.7% in September, and 0.5% in the final three months of the year. Moody’s economists wrote at the weekend “Biting-high inflation will force the central bank’s hand. “Our view is that the RBA has likely already done enough to cool growth and inflation and so should pause to allow more time for lags to work, particularly in view of the run of softer economic data lately. Against that backdrop, we don’t see the need for rates to move above a terminal rate of 3.85%. The Reserve Bank is expected to lift the cash rate by another 0.25% at its March meeting today, even though there is clear evidence the economy is slowing and consumer spending and incomes are weakening.

The local share market has finished higher as traders wait to see what tone Australia's central bank sets when it releases its latest decision on rate ...

In small caps, Rhythm Biosciences sunk 38 per cent to a two-a-and-half year low of 59.5c after announcing it would withdraw its application asking the Australian Therapeutic Goods Administration to approve its blood test for colorectal cancer. BEN was down 1.6 per cent to $9.45 as the regional lender traded ex-dividend. All the big banks had a good day, with NAB up 2.1 per cent to $29.85, Westpac adding 1.6 per cent to $22.07, ANZ ahead 1.9 per cent to $24.31 and CBA up 1.1 per cent to $98.86. Back in the mining sector, Core Lithium had gained 6.3 per cent to reach a two-week high of $1.02 after doubling its estimates of its Fennis lithium deposit on the outskirts of Darwin in the Northern Territory. * The broader All Ordinaries added 41.7 points, or 0.56 per cent, to 7,525.7 But the big banks turned in a solid performance, with Westpac up 1.7 per cent to $22.09, ANZ up 1.5 per cent to $24.20, CBA climbing 0.9 per cent to $98.60 and NAB rising 1.1 per cent to $29.48. Bank of Queensland was up 1.6 per cent to $6.92 after a note from Citi mulled the possibility of a merger between it and Bendigo & Adelaide Bank. * The benchmark S&P/ASX200 index finished Monday up 45 points, or 0.62 per cent, at 7,328.6 In the energy sector, Woodside declined 1.5 per cent to $37.21, Santos retreated 0.8 per cent to $7.14 and Whitehaven Coal subtracted 2.1 per cent to $7.33. The benchmark S&P/ASX200 index on Monday closed up 45 points, or 0.62 per cent, to 7,328.6, while the broader All Ordinaries was up 41.7 points, or 0.56 per cent, to 7,525.7. In tech, Xero rose 3.8 per cent to $78.47, Life360 soared 10.6 per cent to $5.39 on news the family-tracking company would be rejoining the ASX200, and Brainchip advanced 16.7 per cent to 59.5c after introducing its second-generation artificial intelligence chip platform. What the RBA decides on rates is not expected to move the market much, as basically everyone regards it as a foregone conclusion that the RBA will hike rates another 25 basis points, taking the cash rate to 3.6 per cent, Mr Daghlian said.

The Reserve Bank of Australia (RBA) will announce its next monetary policy decision on Tuesday, March 7 at 03:30 GMT and as we get closer to the relea.

“We expect RBA to increase the cash rate by 25 bps to 3.60%. Gold price is retreating from over two-week highs of $1,858 in the early European session. EUR/USD rebounded from the 1.0620 area and rose back above 1.0650, boosted by a decline of the US Dollar across the board. The author makes no representations as to the accuracy, completeness, or suitability of this information. There could also be interest in this meeting as to whether the “The focus will be on whether the RBA softens its language in light of recent weaker data. The author will not be held responsible for information that is found at the end of links posted on this page. The RBA is set to deliver another 25 basis points rate hike in March, lifting the Official Cash Rate (OCR) from 3.35% to 3.60%. “We expect a 25 bps hike to 3.60%. “We expect that the upcoming RBA meeting is going to be much more interesting than has been the case recently. Specifically, we expect the central bank to hike by 25 bps each in March, April and May. The Board’s interpretation of the wages data will give us a guide on what might be ahead.”

Put simply, inflation results when too much demand is chasing too few goods and services, pushing up prices. For decades, Australia has relied on monetary ...

But Hawkins says one problem is that “while a GST hike in the medium term would dampen expenditure and so lower inflation, its immediate impact would be to raise prices”. “An alternative would be to have people hand over more money to the government, by raising taxes,” Hawkins says. Fadden proposed compulsory loans that would earn 2% interest and be repaid after the second world war as a way to ease inflationary concerns. But she says this would deter landlords from adding to housing supply, potentially pushing up rentals for those not benefiting from the controls. In per capita terms, household spending “actually went backwards” compared with the previous quarter, she says. Governments could, for example, force people to save more by increasing their contribution to superannuation, but that has costs too, Coates says. Brendan Coates, the economic policy program director at the Grattan Institute, says that “it’s hard to see any policy that you could use to get bring inflation under control that doesn’t involve taking money out of the economy right now”. “Rising interest rates tends to hit higher income earners because they tend to borrow more,” Coates says. “It is hard to deploy them in a hurry. “Where are the sharp instruments?” he asked. It’s our job.” And many of them are very general – ‘blunt’ even – rather than specific.”

Interest rates are expected to be hiked for the tenth time this week with younger households and those on lower incomes set to be worst hit by one of the ...

“Borrowers are taking advantage of this with the latest Australian Bureau of Statistics data showing refinancing activity remains 22.5 per cent up on a year ago. “Fixed rates may also be back on the agenda for borrowers who can afford repayments today but fear future increases. But it will be watching for any negative indicators in the medium term. Values are now being whittled back and disappearing equity is piling on further pressure,” he explained. “It is time to batten down the hatches for a long haul of higher rates that in reality are only just returning to a more normal level.” “We are still five 0.25 percentage point interest rate increases short of the long-term average cash rate of 4.6 per cent, and shouldn’t be counting on interest rates returning to the lows of the last few years. “In spite of the record pace of interest rate increases, inflation is sitting stubbornly at 7.4 per cent for the year to January 2023 and unemployment is at a low 3.7 per cent, giving the Reserve Bank little encouragement to hold back further rate increases. Overall, the RBA could be at risk of “burying” poorer and younger households after it raised interest rates from a record low of 0.1 per cent to 3.35 per cent in February, Mr Toohey added. It comes as new research showed that 54 per cent of Aussies feel further interest rate rises is not the solution to bringing inflation back under control and instead they are losing confidence in the government and Reserve Bank of Australia to ease cost of living pressures. But the housing market is also taking a hit with recent Australian Bureau of Statistics figures showing the value of home loans in January fell by 5.3 per cent and have now dived by a record 35 per cent lower over the past 12 months. Interest rates are expected to be hiked for the tenth time this week with younger households and those on lower incomes set to be worst hit by one of the most aggressive rate tightening cycles as they soar to a 10 year high. “The RBA’s rate hikes already delivered, not to mention an additional 50 bps or more that they suddenly seem intent on delivering, are about to unleash enormous financial pain on the lower income and younger households that risks an abrupt stoppage in retail sales and potentially a sharp jump in the unemployment rate and a raft of delinquencies,” he said in a report.

Australia's major banks expect the Reserve Bank will lift the cash rate to its highest level since May 2012 later today, but thousands of families like Le ...

NAB predicts the first rate cut will be in March 2024, and the cash rate to get to 3.1 per cent by June 2024, while ANZ forecasts that the first rate cut will be in November 2024. If you multiply by 52 weeks, it's a lot of money." CBA expects inflation to come down sooner, and expects the cash rate to drop by 50 basis points in the final three months of 2023, followed by more rate cuts in the first half of 2024 with a cash rate of 2.85 per cent by June 2024. It is expecting the cash rate to peak at 3.85 per cent, saying the RBA is "underestimating the lagged impact that the already delivered interest rate hikes will have on the economy in 2023". That means borrowers on variable interest rate loans are likely only now beginning to feel the pain of cash rate increases imposed by the RBA in November and December — and there are already signs of it in the economy. ANZ, NAB and Westpac are all now forecasting that interest rates will peak at 4.1 per cent — which could come in the form of three 25-basis-point hikes in the cash rate in March, April and May this year. Most of Australia's major banks are forecasting a 0.25 of a percentage point rate hike after the RBA's Tuesday afternoon meeting, and most economists are of the belief that rates will continue to rise throughout the year. Currently, the RBA has set the cash rate at 3.35 per cent, after the board lifted the cash rate by 0.25 of a percentage point in February. If the cash rate increased to 3.6 per cent, another $77 would be added to monthly repayments on a $500,000 loan, according to RateCity. - Economists expect the cash rate will increase by 0.25 of a percentage point to 3.6 per cent Economists expect the RBA will lift the cash rate target by 25 basis points to 3.6 per cent — the highest level since May 2012 — after governor Philip Lowe flagged further rate rises would be needed after last month's meeting. - NAB, Westpac and ANZ expect the cash rate will reach 4.1 per cent by June

Economists warn that there's only a “narrow window” for the central bank to tame inflation.

“It’s a sign of the times … Households face the possibility of up to four rate hikes by June, The Australian reported. Sally McManus, secretary for the Australian Council of Trade Unions, warned that a hike on Tuesday would further impact workers already hurting from higher mortgage costs. I think they will err on the side of making sure, that maybe they will overreach.” “And then you’ll have to go a lot harder as we had to do in the 90s. Evans’ warning comes amid calls from housing industry leaders for the Reserve Bank to hit pause on further rate hikes.

There are fears a 10th consecutive rate hike from the Reserve Bank of Australia will push some families to ...

He won't have the balls to do it." "People can't afford this and they're living on the bottom dollar," he said. "(Lowe) came out and told people, 'we won't raise interest rates, go out and buy a house', you went on national TV and told people this and then you came out and did the exact opposite." Corey also didn't mince his words when it came to the Prime Minister, calling for him to step up and tell the RBA "enough is enough". 'People can't afford this and they're living on the bottom dollar' "He doesn't know what's going on in the real world."

Households are bracing for interest rates to hit the highest level in a decade on Tuesday, but at least one economist says that still won't be high enough ...

I think that is the scenario that has to be avoided,” he said. I want to make that clear,” he told Nine’s 60 Minutes on Sunday. “The question is, how much insurance would you pay now to avoid that? Even though there are signs it has peaked at 7.8 per cent in December, that figure is well above the RBA’s target rate of between 2 and 3 per cent. National accounts figures released last week revealed the Australian economy grew just 0.5 per cent in the final three months of 2022. Just a year ago, the rate was 0.1.

World and Asian stocks crept higher on Monday despite an increase in U.S. and global bond yields, and ahead of an expected interest rate hike in Australia and ...

Tuesday's focus rests squarely on the first of two Congressional appearances this week from Powell. Analysts expect one more 25 basis point increase in the second quarter of the year, leaving the cash rate at 3.85%, its highest since 2012. Investors are going into these events in a fairly upbeat mood. World and Asian stocks crept higher on Monday despite an increase in U.S. Register for free to Reuters and know the full story MSCI's World equity index rose for a third straight session on Monday, its best run in a month, and the

The Reserve Bank of Australia will decide whether to increase interest rates, Kooyong MP Monique Ryan and her chief-of-staff Sally Rugg return to court and ...

On a $604,000 mortgage, today’s increase will add almost $100 to monthly repayments. The bank is in the midst of its most aggressive tightening of monetary policy since it started targeting the inflation rate in the early 1990s. The Reserve Bank has lifted interest rates to an 11-year high of 3.6 per cent as it battles to bring inflation under control.

The Reserve Bank of Australia is expected to increase the cash rate by 25 basis points today to 3.6% - adding to cost of living pressures for many ...

The Reserve Bank of Australia is expected to increase the official cash rate for the tenth consecutive time when the board meets on Tuesday, with analysts ...

ANZ and NAB have released similar predictions, while the Commonwealth Bank is slightly more optimistic. “The real risk here in the next two or three years is that if the economy and inflation gets away from us, that we have to raise rates by two or three percentage points more from here and of course inevitably create a severe recession,” he said. “The Board expects that further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary,” he wrote in a statement. Analysts from the big four banks have forecast the rate to peak between 3.85 per cent to 4.1 per cent by May, which would suggest one to two more rate rises after Tuesday. The Reserve Bank of Australia is expected to increase the official cash rate for the tenth consecutive time when the board meets on Tuesday, with analysts from the big four Banks predicting more carnage from now to May. As households await for the RBA to confirm a 10th consecutive rate rise on Tuesday afternoon, analysts from the big four banks believe more pain is on the way.

Good morning, it's Amy here in windy Melbourne with the news from our region and beyond to start your day.Today's must-reads:• Rate hike expected • Warning ...

The Reserve Bank of Australia will make its second cash rate decision of 2023 on Tuesday, March 7.

Digital journalist for ACM's regional titles. Before this role, I was the digital specialist with ACM's Agricultural division and prior to that chief of staff at The Land, where I started as a journalist in 2006. For the average variable rate mortgage holder with a $500,000 loan and 30 years remaining, another cash rate hike will add $1051 to monthly repayments compared to April 2022.

Chris Bowen is speaking to ABC Radio RN Breakfast about the importance of the safeguard mechanism legislation. The Liberals have made themselves irrelevant to ...

The Reserve Bank of Australia will make its second cash rate decision of 2023 on Tuesday, March 7.

Digital journalist for ACM's regional titles. Before this role, I was the digital specialist with ACM's Agricultural division and prior to that chief of staff at The Land, where I started as a journalist in 2006. For the average variable rate mortgage holder with a $500,000 loan and 30 years remaining, another cash rate hike will add $1051 to monthly repayments compared to April 2022.

From the statement: The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet ...

And that’s one of the reasons why the government is responding as we are with the safeguard mechanism to provide that certainty for business to invest going forward. And it is true that inflation is a global phenomenon that has arisen because of because of supply chain issues that occurred during the global pandemic. It highlighted for me the glory and sanctity of marriage in Australia. The Speaker of the house, Milton Dick, introduced Ley “with some nervousness” as she came to the dispatch box in a frizzy-haired wig and a black dress, just before question time today. Our assessment is that inflation opposite is likely to have peaked around the end of 2022. Fortunately, in Australia, we have some structures, thanks in part to the reforms of the Hawke and Keating government that do ensure that we’re connected with the global economy and the RBA governor had this to say ‘most advanced economies are in a similar position to Australia and have responded with higher interest rates in some cases to a level substantially higher than that in Australia. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that. The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary. The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet to be felt in mortgage payments. That Labour has real lasting plans for cheaper electricity, cheaper mortgages, but the Courier Mail reports that this cost of living crisis is forcing Queensland families Queensland families Prime Minister to pay an extra $1,100 a month on food, groceries, energy bills and mortgages. Another source of uncertainty is how the global economy responds to the large and rapid increase in interest rates around the world. The Board’s priority is to return inflation to target.

The Reserve Bank has delivered its 10th consecutive interest rate rise as it continues its battle to bring inflation under control.

[Shane Wright](/by/shane-wright-h170pw)– Shane is a senior economics correspondent for The Age and The Sydney Morning Herald.Connect via You need to actually be active and on the front foot for growth. “You can never skate through, and that’s part of my message today. It is a record 10th consecutive meeting where the cash rate, which was just 0.1 per cent at the start of May last year, has been increased. On a $604,000 mortgage, Tuesday’s increase will add almost $100 to monthly repayments. “The detail suggests a slowing in services and non-food retail spending is more than offsetting a lift in food retail and hospitality.” “For that to occur, we’d need to see inflation show meaningful signs of improvement in April and then July – the next two quarterly inflation releases – along with some softer results from the monthly inflation measure.” “At the aggregate level, wages growth is still consistent with the inflation target and recent data suggest a lower risk of a cycle in which prices and wages chase one another,” he said. “The board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary,” he said. Inflation “The board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.” “In assessing when and how much further interest rates need to increase, the board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market.

The March increase will tack on an average of $95 a month to a $600,000 mortgage. Economists and analysts expect the cash rate peak to arrive sooner rather than ...

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The Reserve Bank of Australia (RBA) has increased interest rates for the 10th consecutive meeting in a row...

High inflation makes life difficult for people and damages the functioning of the economy," Lowe said. "Household balance sheets are also being affected by the decline in housing prices. "The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that." "The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary," he said. "In assessing when and how much further interest rates need to increase, the Board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market. "Some households have substantial savings buffers, but others are experiencing a painful squeeze on their budgets due to higher interest rates and the increase in the cost of living," he said.

The Reserve Bank of Australia will decide whether to increase interest rates, Kooyong MP Monique Ryan and her chief-of-staff Sally Rugg return to court and ...

On a $604,000 mortgage, today’s increase will add almost $100 to monthly repayments. The bank is in the midst of its most aggressive tightening of monetary policy since it started targeting the inflation rate in the early 1990s. The Reserve Bank has lifted interest rates to an 11-year high of 3.6 per cent as it battles to bring inflation under control.

Interest rates at highest level since mid-2012 as central bank continues to try to drive down inflation.

However, “[services] price inflation remains high, with strong demand for some services over the summer,” Lowe said. “The monthly CPI indicator suggests that inflation has peaked in Australia,” Lowe said. Speculation among pundits turned to how many more rate rises were likely. It signalled, though, that the peak may not be far off. “In assessing when and how much further interest rates need to increase, the board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market.” “The board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary,” the RBA governor, Philip Lowe,

The Reserve Bank of Australia (RBA) raises interest rates for the 10th consecutive meeting, taking the cash rate target to 3.6 per cent.

"This change does not preclude the RBA from raising the cash rate more than once from here. "The board, however, remains alert to the risk of a prices-wages spiral, given the limited spare capacity in the economy and the historically low rate of unemployment." But it means that the board is not convinced that it needs to hike the cash rate multiple times from here," he wrote. "The board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary," he said in his post-meeting statement. "In assessing when and how much further interest rates need to increase, the board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market." - The 0.25 of a percentage point rate rise will add around $77 a month to repayments on a $500,000 mortgage

Following the second RBA rate rise of the year, Aussies anticipate banks to continue the trend of passing on increases to savings accounts and term deposits ...

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Asia-Pacific shares traded mixed as investors await RBA's rate decision, as well as a docket of economic data across the region.

[Bitcoin](https://www.cnbc.com/quotes/BTC.CM=/) was down 0.18% to trade at $22,421.4, while [Ether](https://www.cnbc.com/quotes/ETH.CM=/) fell 0.22% to $1,564.65 according to CoinDesk data. Following the price cuts, the Tesla Model S now starts at $89,990, according to Tesla's website. [S&P 500](/quotes/.SPX/) rose by 14% since the start of October. Still, he said the company had an underappreciated opportunity in the space as it could move away from internal combustion engines without losing the core of the brand. "In addition to its strong fundamentals, we believe RACE has levers to pull for both growth or downside protection, within a wide dispersion of macro outcomes." He said the carmaker's defensiveness and hard-to-replicate luxury brand would be assets in amid a changing economic backdrop. Month-to-date, Apple is about 5.8% higher, bringing the year-to-date gain to a shade above 20%. [Hang Seng index](https://www.cnbc.com/quotes/.HSI/) traded 0.72% higher. In late morning trading Monday, Apple alone added about a point to the S&P 500's advance. China saw its exports fall by 6.8% in February, declining less than expectations of a 9.4% drop, according to economists surveyed by Reuters. Powell is set to appear before Congress with the The RBA raised its overnight cash rate by 25 basis points to 3.6%, which would mark the highest rate since June 2012.

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.60 per cent. It also increased the interest rate on ...

The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that. The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary. Another source of uncertainty is how the global economy responds to the large and rapid increase in interest rates around the world. The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet to be felt in mortgage payments. At the aggregate level, wages growth is still consistent with the inflation target and recent data suggest a lower risk of a cycle in which prices and wages chase one another. The central forecast is for inflation to decline this year and next, to be around 3 per cent in mid-2025.

In his post-meeting statement, RBA governor Philip Lowe continued to emphasise that the central bank was "resolute" in its desire to get on top of inflation ...

With another rate rise in the rearview mirror, the million-dollar question now is what will happen to the cash rate when the Reserve Bank Board meets next on April 4? That's not to say that the recent cycle of rate hikes is over though. "The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary. "The latest figures on mortgage stress show that interest rates are approaching levels that will cause a significant spike in the number of mortgage holders considered 'At Risk' over the next few months. [savings](https://www.moneymag.com.au/tag/savings) interest rates have rocketed up over the past year, with some of the most generous offers on the market now well above the 4.00% p.a. "Savings rates continue to inch higher every month, so it's a good idea to keep your eye out for a competitive rate. In fact, the Bank of Queensland recently announced a new rate of 5.15% p.a. "The Board's priority is to return inflation to target. The compounding effect of these rate increases has seen mortgages increase by thousands of dollars a year," says personal finance expert at Mozo, Claire Frawley. on its myBOQ Future Saver account, though the account is limited to those aged 14 to 35. Though with a further two rate hikes since, that figure could well rise. It will be some time before inflation is back to target rates.

The Reserve Bank has raised the official cash rate for the second time in 2023. The Reserve Bank of Australia (RBA) has made its tenth consecutive cash rate ...

The rate hikes returned to 25 bps in October, November, December, and February. While the governor stated in December “the board expects to increase rates further over the period ahead, but it is not on a pre-set course”, he changed it in February to “the board expects that further increases in interest rates will be needed over the months ahead”. [create a free account](/free-membership). Due to this, the RBA board agreed that “a further increase in interest rates was warranted”. RBA governor Phillip Lowe said in monetary policy decision statement that the board expects “further tightening of monetary policy” will be necessary to ensure that inflation returns to target and that the current period of high inflation “is only temporary”. “The RBA is getting nearer to the tipping point in its struggle to tame inflation, and I believe we are getting to the stage where too many more interest rate rises will change the tide and crush consumer confidence, which will lead to a dramatic slowing of the economy,” Mr Bednar said.

The Reserve Bank could hit pause on further rate rises after a final increase next month, but economists say the cash rate will probably go up again in May ...

[Woolies, CBA CEOs say trading is ‘strong’ despite rate rise hits](https://www.afr.com/business-summit/woolies-cba-ceos-say-trading-is-strong-despite-rate-rise-hits-20230307-p5cq2u)As the RBA raised rates again, the CEOs of CBA and Woolworths said spending is strong, and food inflation is persistent, pointing to challenges for the RBA. [Banks on notice from ACCC as interest rates climb](https://www.afr.com/politics/federal/banks-on-notice-from-accc-as-interest-rates-climb-20230307-p5cpyj)Gina Cass-Gottlieb warned the watchdog would look closely at how banks set interest rates as the Reserve Bank continues to fight inflation with ongoing rate rises. [Energy price concerns abate but rate fears increase](https://www.afr.com/politics/federal/energy-price-concerns-abate-but-rate-fears-increase-20230307-p5cpzg)Concern over energy prices has abated, but spiralling interest rates continue to drive the cost of living as the signature concern of voters, according to new research. [9 out of 10 mortgage holders are already cutting back](https://www.afr.com/politics/federal/rising-interest-rates-homeowners-cut-back-on-eating-out-takeaway-20230304-p5cpei)Research by analytics firm Nature revealed that the Reserve Bank’s aggressive interest rate rises to try to tame inflation were having the desired effect. Comyn says this slowdown will be different as customer anxiety mounts](https://www.afr.com/chanticleer/matt-comyn-says-nuance-needed-in-jigsaw-economy-20230306-p5cpv3)The CBA boss says the gap between the anxiety customers feel as rates rise, and their lived experience, shows why banks must remain flexible as the economy slows. [Prospect of rate pause could lift housing market sentiment](https://www.afr.com/property/residential/prospect-of-rate-pause-could-lift-housing-market-sentiment-20230307-p5cq10)But the 10 back-to-back rate rises will continue to put pressure on people’s ability to borrow and repay their mortgage, experts say. [Australian dollar falls after RBA softens tone about rate outlook](https://www.afr.com/markets/debt-markets/australian-dollar-falls-after-rba-softens-tone-about-rate-outlook-20230306-p5cpua)The Australian dollar and bond yields fell after the Reserve Bank indicated higher interest rates ahead, but softened its hawkish stance. “High inflation makes life difficult for people and damages the functioning of the economy. But it means that the board is not convinced that it needs to hike the cash rate multiple times from here,” he said. Reserve Bank’s Lowe takes stock of his inflation-fighting campaign](https://www.afr.com/companies/financial-services/reserve-bank-s-lowe-takes-stock-of-his-inflation-fighting-campaign-20230307-p5cq4b)Reserve Bank governor Philip Lowe recognises that his inflation-fighting campaign has now entered a new and particularly tricky phase, writes Karen Maley. “Despite last month’s hawkishness, data dependence was still there in the guidance. The benchmark was flat at 7328.1 points heading into the meeting.

The benchmark Australian share index rose 0.5 per cent to 7364.7 after the Reserve Bank of Australia pulled the trigger on its tenth consecutive rate ...

The company said it was placing $54.9 million worth of shares at 31.5¢ apiece – a 34 per cent premium to the last closing price. Magellan’s shares fell 0.6 per cent to $8.84 per share. Testing and inspection company ALS shares dropped 3.7 per cent to $12.30 after CEO Raj Naran said he was resigning effective immediately on Tuesday because of personal reasons. Technology company Megaport shares plunged 15 per cent to $4.88 per share. The result was slightly softer than consensus expectations for a $12.3 billion surplus. The firm had investment bank UBS trying to purchase 14.4 million InvoCare shares, with an offer at 41 per cent premium. His retirement marks the end of a 30-plus year investment career. Connect with Joanne on [[email protected]](mailto:[email protected]) ALS has begun a global search for his successor. Airlie Funds Management shares were flat at $3.51 per share after news broke that its founder, John Sevior, is to retire in June. Mining giant Rio Tinto shares dropped 0.3 per cent to $125 per share after it was fined $US15 million ($22.3 million) by the US Securities and Exchange Commission (SEC) relating to an alleged bribery scheme. Funeral services company InvoCare shares surged 35 per cent to $12.08 per share after The Australian Financial Review’s Street Talk column reported that

Softening rhetoric from the Reserve Bank governor suggests the rate hiking cycle is drawing to a close after...

"In the meantime, the RBA should pause rate hikes, or it will overshoot and cruel the economy," he said. He said the RBA had only one tool to fight inflation and urged the government to consider a greater role for fiscal policy. "The government has to rein in their spending or households will have to do it for them," he said. Australian Chamber of Commerce and Industry boss Andrew McKellar urged the RBA to pause and take stock of what was happening in the "real economy". "The board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary," he said. "Of course, a final 25 (basis point) hike is far from certain at this point, but the main takeaway for me is that the RBA have removed a key hawkish sentence from the February statement," he said.

Economists have flagged there will be some relief from rate hikes this year. Here's what different experts say mortgage holders can expect, and when.

“A month ago, the Reserve clearly thought it had some way to go. Credit: SBS News