As Jim Chalmers steps ever so slightly away from the Reserve Bank, there are so many economic policy areas to step towards
1 year, 4 months ago

As Jim Chalmers steps ever so slightly away from the Reserve Bank, there are so many economic policy areas to step towards

ABC  

Treasurer Jim Chalmers constantly refers to our central bank these days as "the independent" central bank. "This afternoon the independent Reserve Bank has increased interest rates by 25 basis points to 4.35 per cent," Chalmers told a press conference on Tuesday afternoon. What's more, the Statement on Monetary Policy — the Reserve Bank's quarterly economic assessment of where things are up to — released on Friday is heralding a stronger economy than had been previously expected. Record population growth a double-edged sword for inflation, according to RBA analysis Photo shows Business people walk past a shiny black sign that reads "Reserve Bank of Australia". In other words, Australia's savings rate has now reached a point where higher interest rates aren't really either just bad news, or a policy lever that has just one effect.

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History of this topic

Treasurer Jim Chalmers all smiles as he says 'worst of inflation challenge' behind us — as it happened
1 month, 4 weeks ago

Treasurer Jim Chalmers all smiles as he says 'worst of inflation challenge' behind us — as it happened

ABC  

There's no doubting it: this is a good inflation number, and that's good news for the federal government. Inflation on the Reserve Bank's preferred measure is now very close to its target range, and a cut may not be assured, but it's definitely on the table, either at the February meeting or in April. But he also boasted Australia will …

The Reserve Bank is in for major changes, but will it mean anything for interest rates?
3 months, 4 weeks ago

The Reserve Bank is in for major changes, but will it mean anything for interest rates?

ABC  

Treasurer Jim Chalmers has indicated the looming election was not a factor in the Government's moves to introduce sweeping changes to the Reserve Bank. The move to split the board in two came after a long-running review of the Reserve Bank, which recommended making the change to get more expertise onto the board setting rates. But earlier this year the …

Treasurer makes economic pitch
4 months, 1 week ago

Treasurer makes economic pitch

ABC  

Rachel Mealey: Hello welcome to PM, I'm Rachel Mealey coming to you from the lands of the Turrbal and Yuggera people in Brisbane. David Taylor: The Treasurer also says while the budget bottom line's improving thanks to a better tax take, it'll likely still come in deep in the red. Luke Siddham-Dundon: But she says the instructions don't give people …

Reserve Bank boss Michele Bullock mocks Treasurer Jim Chalmers with three cutting words
6 months ago

Reserve Bank boss Michele Bullock mocks Treasurer Jim Chalmers with three cutting words

Daily Mail  

Reserve Bank chief Michele Bullock has openly mocked Treasurer Jim Chalmers by suggesting she could hypothetically 'smash the economy' with more rate rises. But Ms Bullock has weaponised Dr Chalmers's critique of the most aggressive rate rises in a generation, just three weeks after the Treasurer accused the Reserve Bank of 'smashing the economy'. Reserve Bank chief Michele Bullock told …

Jim Chalmers insults Peter Dutton's 'negativity' and Angus Taylor's 'weakness' after failing to agree on Reserve Bank reforms
6 months, 2 weeks ago

Jim Chalmers insults Peter Dutton's 'negativity' and Angus Taylor's 'weakness' after failing to agree on Reserve Bank reforms

ABC  

Treasurer Jim Chalmers has launched an extraordinary broadside at his Coalition counterpart for "weakness" in convincing his party to adopt reforms to the Reserve Bank. Mr Chalmers called a press conference in the "blue room" of Parliament House, usually reserved for policy announcements, to attack Shadow Treasurer Angus Taylor and his party leader Peter Dutton after failing to find agreement …

Jim Chalmers had no way to sugar-coat the economy's GDP figure but there was also good news for the government
6 months, 3 weeks ago

Jim Chalmers had no way to sugar-coat the economy's GDP figure but there was also good news for the government

ABC  

There was no way of sugar-coating the latest dismal figure on the economy: Growth was barely positive. Australia's economy growing at slowest pace since 1990s recession Photo shows People walking in Brisbane's Queen Street Mall As Australia's economy grows at its slowest pace since the 1990s recession, consumers place more "focus on affordability". Treasurer blames interest rate rises for 'smashing' …

Jim Chalmers blames interest rate rises for 'smashing' the economy, expects weak economic growth
6 months, 3 weeks ago

Jim Chalmers blames interest rate rises for 'smashing' the economy, expects weak economic growth

ABC  

Treasurer Jim Chalmers has blamed successive interest rate rises for "smashing the economy", as the government braces for more weak economic figures due this week. Ahead of the release of the latest economic growth figures on Wednesday, Mr Chalmers said the government was focused on walking the tightrope of bringing down inflation without further pressuring people "already being hammered by …

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling
7 months, 4 weeks ago

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling

Daily Mail  

Treasurer Jim Chalmers wants you to believe that rising inflation isn't his fault. Under pressure: Jim Chalmers' excuses for Australia's 'sticky' inflation crisis are unravelling He wants you to focus on the fact inflation is lower now than when Labor came to power. In other words Australia's rising inflation - a quarterly adjusted figure of 3.8 per cent - is …

Treasurer Jim Chalmers concedes Australia risks missing its climate targets
1 year, 4 months ago

Treasurer Jim Chalmers concedes Australia risks missing its climate targets

ABC  

Federal Treasurer Jim Chalmers has acknowledged Australia is behind in efforts to meet climate targets, signalling a need for more public and private investment to catch up. Key points: Australia appears unlikely to meet its 2030 climate targets on its current trajectory The federal treasurer has acknowledged Australia is behind on its renewables targets He has signalled more investment in …

Jim Chalmers is a man on many missions. Here's what the treasurer's been up to ahead of the budget
1 year, 11 months ago

Jim Chalmers is a man on many missions. Here's what the treasurer's been up to ahead of the budget

ABC  

The federal budget is less than three weeks away. RBA review offers promise Photo shows Two women wearing work attire walking past the Reserve Bank of Australia offices in Sydney. "Nor would I expect there to be a winding back of the independence of the Reserve Bank, which is a key feature of our central bank in Australia," he said. …

Reserve Bank raises interest rates, 'expects that further increases will be needed'
2 years, 1 month ago

Reserve Bank raises interest rates, 'expects that further increases will be needed'

ABC  

The Reserve Bank has raised interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012. Key points: The RBA's cash rate target is now at 3.35 per cent That is the highest level of the cash rate since September 2012 The RBA governor indicates that further rate rises are …

Interest rate rise: Treasurer Jim Chalmers backs RBA boss as Aussies face mortgage stress
2 years, 3 months ago

Interest rate rise: Treasurer Jim Chalmers backs RBA boss as Aussies face mortgage stress

Daily Mail  

Treasurer Jim Chalmers has responded to calls for a major overhaul of the Reserve Bank as interest rates soar to a 10-year high. The RBA raised interest rates by a quarter of a percentage point to 3.1 per cent on Tuesday much to the distress of mortgage holders who have faced eight consecutive rate rises. Treasurer Jim Chalmers is supporting …

Can Jim Chalmers become a reforming treasurer?
2 years, 6 months ago

Can Jim Chalmers become a reforming treasurer?

ABC  

Jim Chalmers's long-term ambition is similar to that of most treasurers. 'Bread and butter' budget Chalmers highlighted that five big spending areas — health, the National Disability Insurance Scheme, aged care, defence, and servicing the large public debt — were creating "substantial structural concerns". After this "standard" budget "there are multiple opportunities in multiple budgets over the course of the …

Treasurer concedes coronavirus economic figures 'sobering' as Australia faces largest deficit in history
4 years, 10 months ago

Treasurer concedes coronavirus economic figures 'sobering' as Australia faces largest deficit in history

ABC  

The Federal Treasurer has outlined what he has dubbed a "sobering" economic outlook on a day when he had long hoped to deliver Australia's first budget surplus in more than a decade. Key points: The Federal Budget was due to be released on Tuesday but was delayed because of coronavirus Last year, the Government pledged it would deliver a surplus …

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