Sky News Business Editor Ross Greenwood says the Reserve Bank is fairly “pragmatic” in stating that they believe they can control inflation and prevent a recession in Australia.
“There’s also responsibility placed back on the government here that the government needs a budget that comes out and does not spend money,” Mr Greenwood told Sky News host Andrew Bolt.
“That Jim Chalmers and the Finance Minister basically cut out and really navigate their way to a situation whereby they get to the point that you don’t have the type of inflation, coming from government and the government spending.”
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: Macquarie Group, Transurban to report; Reserve Bank of Australia interest rate call aheadAustralian shares set for a muted open. US stocks extend losses. Transurban CEO to step down. RBA poised to lift rates by 0.25pc. Follow for updates.
Read more »
Live: Reserve Bank tipped to announce first interest rates rise of 2023The Reserve Bank is widely expected to lift interest rates by another quarter of a percentage point, making it nine increases in a row. Follow live.
Read more »
Reserve Bank raises interest rates by a quarter of a percentage pointThe Reserve Bank raises interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012.
Read more »
Reserve Bank’s ‘language’ in media statement was ‘stronger’ than anticipatedKPMG Chief Economist Brendan Rynne says the Reserve Bank’s “language” in today’s media statement was “much stronger” than anticipated. “The language that was in today’s media statement was much, much stronger than what I thought it was going to be,” Mr Rynne told Sky News Commentator Steve Price. “Quite clearly the Reserve Bank was very concerned about the level of inflation that materialised in the last quarter of last year, running at nearly eight per cent. “It’s very much wanting to try to clamp that down and bring inflation back to its target band.”
Read more »
Reserve Bank seeks ‘soft landing’ for Australia’s economy: The ‘real issue’ at handSky News Business Editor Ross Greenwood says the “real issue” is the Reserve Bank is attempting to guide Australia's economy to what is known as a “soft landing”. “We don't go into a hard recession, where we see unemployment rise significantly,” Mr Greenwood told Sky News host Andrew Bolt.
Read more »
RBA Governor paints ‘gloomy’ picture of possibility of recessionShadow Treasurer Angus Taylor says the Reserve Bank of Australia Governor Philip Lowe paints a very “gloomy” picture of the possibility of a recession. “You got a typical family has gone into a mortgage of $750,000,” Mr Taylor told Sky News Australia. “They're going to be paying an extra $18,000 a year.”
Read more »