The federal government is warning Australians to brace for further interest rate rises as the Reserve Bank is expected to lift the cash rate in an attempt to rein in inflation. Follow live.
Analysis: Interest rates are rising, risks are growing, the government needs to tread carefullyLast week, the Bureau of Statistics released its economic growth data for the March quarter.
Federal Treasurer Jim Chalmers said there were "pleasing elements" in the numbers, because strong demand was being supported by a tight labour market."The National Accounts are notoriously backward-looking," the Treasurer said. "We do have labour shortages. We do still have COVID absenteeism. And the international environment has become more challenging as well.Those economic conditions are serious, and they're compounded by uncertainty.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: ASX poised to open lower with RBA meeting in focusASX futures point to 0.4pc opening drop; Wall Street declines; US nonfarm payrolls beat expectations; Brent crude breaches $US120; $A drops to US72.07¢. Follow the latest here.
Read more »
ASX LIVE: ASX poised to open lower with RBA meeting in focusAustralian shares to open lower; Liontown and Tesla execute offtake agreement; Growthpoint confirms discussions with Fortius regarding ‘potential transaction’; ACCC extends review of Link takeover. Follow the latest here.
Read more »
ASX LIVE: ASX to slip, RBA rate decision awaitedAustralian shares set for muted open. Reserve Bank poised to lift rates with statement at 2.30pm AEST. Iron ore, bitcoin rise. Follow updates here.
Read more »
ASX to start down 0.4pc ahead of possible lofty RBA rate increaseAustralian shares are expected to open lower on Monday on speculation the Federal Reserve and the Reserve Bank will lift interest rates in lofty increments.
Read more »
Banks unlikely to sting mortgage holders with higher rates than RBABank profit margins are already benefiting from rising interest rates, while returns on most retail term deposits languish well below those offered to bigger investors.
Read more »
RBA interest hike tomorrow to bring 'a lot of pain' to millions of AussiesThe Reserve Bank is expected to hike interest rates tomorrow, heaping more pressure on millions of Aussie households whose budgets are straining.
Read more »