Middle East or money-wasters: inflation mud-fight grows
Labor and the coalition are duelling over why Australians now have to fork out more on their mortgages every month.
Labor and the coalition are duelling over why Australians now have to fork out more on their mortgages every month.
The Reserve Bank's decision to lift the cash rate to 4.6 per cent was unanimous, but economists are divided on whether borrowers can expect more hikes.
Shoppers may benefit from cash discounts, but retailers will still have to pay the price on merchant fees when a card surcharge ban comes into effect.
Australian mortgage holders can expect more borrowing pain when the Reserve Bank board meets, with an interest rate hike almost universally anticipated.
Treasury's productivity assumption has been described as "unrealistically optimistic" but the Reserve Bank's might be too downbeat, an economist says.
Australia's labour market is still tight and the unemployment rate likely needs to go up to ease persistent pressure on inflation, Michele Bullock says.
Unemployment data is not expected to deter the Reserve Bank from hiking interest rates for a fourth time in 2026 when it meets later in September.
Oil prices might rise as high as $US150 a barrel as the Iran war drags on, further entrenching expectations for more Reserve Bank rate rises.
The Reserve Bank should "stand ready" to raise interest rates again, as the Middle East war and poor productivity growth make it harder to get inflation down.
The Reserve Bank's deputy governor Andrew Hauser says Australians are fed up with higher living costs, and want inflation to be brought under control.
The war in the Middle East is threatening to push oil prices back above the crucial $US100 a barrel mark and make inflation even harder to get back to target.
Low productivity means Australia's economy is growing above its "speed limit", amplifying concerns the Reserve Bank will hike interest rates again.
GDP figures will headline the week in economic data, while central banks in Canada and New Zealand will meet to set interest rates.
Three out of the four big banks are tipping the Reserve Bank to raise interest rates by November, with one forecasting a hike in a matter of weeks.
Inflation is forecast to have eased during July due to lower electricity prices, but rising fuel costs could reignite price growth down the track.
Insatiable demand for computing power has pushed up prices for technology products, driving up imported inflation to Australia, a Reserve Bank official says.
Unemployment and wage figures are the pick of the week's economic data, while traders will tune in to a "fireside chat" with the Reserve Bank deputy governor.
A collapse in property investor lending since the federal budget is good for the economy in the long term, the boss of the nation's biggest bank says.
A larger-than expected rise in employment will not ease Reserve Bank fears about inflation as rising oil prices compound cost pressures.
Resilient jobs data is a bright spot for Australia's economy but the longer the Middle East conflict drags on, the worse the prospect for growth and inflation.
The time to build a new home in Australia has fallen by 10 per cent in two years but the country is still falling behind the pace on its 1.2 million target.
Property market data will soon be released after the Reserve Bank unveils a readout from its latest interest rate-setting board meeting.
The Australian Bureau of Statistics will this week release inflation and employment figures for May and a senior Reserve Bank official will speak.
Stagnant productivity means households face higher inflation and lower living standards but the treasurer hopes cheaper housing will ward off voter discontent.
Economists are split on whether the Reserve Bank's latest cash rate decision heralds the end of the hiking cycle or merely a pause before the next move upwards.
Borrowers can finally expect relief from quickfire interest rate rises with the Reserve Bank poised to maintain the status quo for the first time in 2026.
The Reserve Bank is widely tipped to leave interest rates on hold for the first time this year despite inflation still being above target levels.
Reserve Bank governor Michele Bullock will get a chance to react to Wednesday's economic growth figures when she fronts a parliamentary hearing in Canberra.
The share of property investors older than 60 has more than doubled since the capital gains discount was introduced, Reserve Bank of Australia research shows.
A short-lived reduction in the fuel excise has provided some momentary price relief but inflation will only worsen without a resolution to supply blockages.
The lone Reserve Bank board member who voted against lifting the cash rate in May was less concerned about inflation expectations than the bank's economists.