The Reserve Bank is in for major changes, but will it mean anything for interest rates?
4 months 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 opposition started sounding concerns the government would pursue a "sack and stack" strategy, using the change to make partisan appointments to the bank's boards. Reserve Bank restructure close to reality after Chalmers offers olive branch to Taylor Photo shows download-2024-71-23-08.49.25 The Reserve Bank of Australia is a step closer to its biggest restructure in three decades after Treasurer Jim Chalmers assured his Coalition counterpart, Angus Taylor, that he would not seek to replace members of the powerful interest rate-setting board.

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History of this topic

Reserve Bank cuts interest rates to 4.1 per cent after 13 rate hikes — as it happened
1 month, 2 weeks ago

Reserve Bank cuts interest rates to 4.1 per cent after 13 rate hikes — as it happened

ABC  

Whether you've been hanging out with us all day or tuned in this afternoon, thanks so much for spending some of your Tuesday with us. But if you're hungry for even more interest rates content tonight, you're in luck. On 7.30, host Sarah Ferguson will speak to Treasurer Jim Chalmers and Westpac chief economist Luci Ellis about the RBA's decision …

'Any' change to Reserve Bank board would politicise interest rate decisions, warns shadow treasurer
3 months, 2 weeks ago

'Any' change to Reserve Bank board would politicise interest rate decisions, warns shadow treasurer

ABC  

The membership of the new-look Reserve Bank boards could be determined as soon as tomorrow, with the Treasurer Jim Chalmers saying he is due to announce who will have the power to lift and lower interest rates in Australia. But Shadow Treasurer Angus Taylor has drawn the battlelines for a fight, warning any change to the RBA's existing monetary board …

Greens demand hostile takeover of RBA in exchange for passing board reforms in likely death knell for treasurer's bill
6 months, 1 week ago

Greens demand hostile takeover of RBA in exchange for passing board reforms in likely death knell for treasurer's bill

ABC  

The Greens are demanding the government intervene to cut interest rates in exchange for their support on the Reserve Bank bill, an unprecedented condition that impedes Treasurer Jim Chalmers' effort to land his reform. However, in a new demand that will almost certainly result in Labor killing the initiative, Greens economic justice spokesman Nick McKim said Mr Chalmers should wield …

Federal Reserve Surprises With Hefty Interest Rate Cut
6 months, 2 weeks ago

Federal Reserve Surprises With Hefty Interest Rate Cut

Huff Post  

LOADING ERROR LOADING The Federal Reserve raised eyebrows Wednesday with a bigger-than-expected cut in a key interest rate, portraying the move as essentially an insurance policy against a possibly slowing economy now that it believes inflation is under control. You can say that about the whole economy,” Federal Reserve Chair Jerome Powell told reporters at a press conference following a …

Interest rates are set to drop, but it's unclear when consumers will feel the impact
6 months, 2 weeks ago

Interest rates are set to drop, but it's unclear when consumers will feel the impact

NPR  

Interest rates are set to drop, but it's unclear when consumers will feel the impact The Federal Reserve is gearing up to start cutting interest rates for the first time since 2020 — but a key decision looms: whether to start small or big. HORSLEY: Well, Juana, I can say with 100% certainty the central bank is going to cut …

Does the Reserve Bank need an overhaul?
6 months, 3 weeks ago

Does the Reserve Bank need an overhaul?

ABC  

SARAH FERGUSON, PRESENTER: The Albanese Government's overhaul of the Reserve Bank is in limbo after the Coalition declared it will not support the Government's plans to create a new specialist board for setting interest rates. SARAH FERGUSON: The Opposition wanted you to transfer all the current external Reserve Bank board members onto the new rate setting board without any exceptions. …

'The time has come' to lower interest rates: Fed Chair Jerome Powell
7 months, 1 week ago

'The time has come' to lower interest rates: Fed Chair Jerome Powell

NPR  

'The time has come' to lower interest rates: Fed Chair Jerome Powell toggle caption Drew Angerer/Getty Images North America Federal Reserve chairman Jerome Powell says he's increasingly confident that inflation will soon be tamed, setting the stage for the central bank to start cutting interest rates next month. Speaking at one of the most closely-watched annual gatherings of global central …

Too early for Bank to cut interest rates on Thursday, economists predict
10 months, 3 weeks ago

Too early for Bank to cut interest rates on Thursday, economists predict

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England looks …

Fed rate outlook looks just right for banks
1 year ago

Fed rate outlook looks just right for banks

Live Mint  

When it comes to interest rates, banks need a Goldilocks scenario: Not too hot, not too cold. Surging interest rates gave banks plenty of headaches, to put it mildly, ranging from a rapid repricing of deposits to a plunge in the value of their longer-term fixed-rate securities. Fed policymakers last week left unchanged their median forecast implying three quarter-point rate …

What’s next for interest rates? Fed minutes suggest cautious approach
1 year, 1 month ago

What’s next for interest rates? Fed minutes suggest cautious approach

LA Times  

Policymakers want to see more evidence that inflation is firmly on a path to their 2% target before lowering interest rates. A summary of the Jan. 30-31 Federal Open Market Committee meeting released Wednesday showed policymakers want to see more evidence that inflation is firmly on a path to their 2% target before lowering interest rates, with some raising concerns …

The Reserve Bank may already have pushed interest rates too high, so is hawkish warning mostly for show?
1 year, 1 month ago

The Reserve Bank may already have pushed interest rates too high, so is hawkish warning mostly for show?

ABC  

The Reserve Bank board's post-meeting statement was a short, sharp kick in the teeth to millions of Australians struggling with higher mortgage repayments. Reserve Bank governor Michele Bullock's response to a question on the outlook for interest rates kept to the script. Interest rates have done what they can A key reason why the RBA says it is still more …

US Fed Reserve keeps interest rates unchanged for fourth time in a row
1 year, 2 months ago

US Fed Reserve keeps interest rates unchanged for fourth time in a row

Hindustan Times  

The US Federal Reserve voted Wednesday to leave interest rates unchanged for the fourth straight meeting, while indicating it was moving toward future cuts -- but probably not before May at the earliest. But it added that the rate-setting Federal Open Market Committee is unlikely to start cutting interest rates "until it has gained greater confidence that inflation is moving …

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 …

Be prepared for 7% interest rates, warns Jamie Dimon
1 year, 5 months ago

Be prepared for 7% interest rates, warns Jamie Dimon

CNN  

New York CNN — JPMorgan Chase CEO Jamie Dimon issued a stark warning Monday to Wall Street: The Federal Reserve may be far from finished with its aggressive regimen of interest rate hikes in the fight against elevated inflation. However, Dimon told Bloomberg TV it’s possible the central bank will continue hiking rates by another 1.5 percentage points, to 7%. …

The Federal Reserve holds interest rates steady but hints at more action this year
1 year, 6 months ago

The Federal Reserve holds interest rates steady but hints at more action this year

NPR  

The Federal Reserve holds interest rates steady but hints at more action this year Enlarge this image toggle caption Saul Loeb/AFP via Getty Images Saul Loeb/AFP via Getty Images The Federal Reserve left interest rates unchanged Wednesday, but signaled that it's open to an additional rate hike, if necessary, to combat stubborn inflation. Sponsor Message Economic projections released Wednesday show …

US Federal Reserve interest rates hit 20-yr high in battle against inflation surge. Is there a 'soft' landing in future?
1 year, 8 months ago

US Federal Reserve interest rates hit 20-yr high in battle against inflation surge. Is there a 'soft' landing in future?

Hindustan Times  

The US Federal Reserve made a significant move on Wednesday, raising its benchmark lending rate by a quarter percentage point to a range between 5.25% and 5.5%. Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, DC. In June, the median forecast hinted at two additional rate …

Will the Reserve Bank shake-up leave you better off? Probably not
1 year, 11 months ago

Will the Reserve Bank shake-up leave you better off? Probably not

ABC  

A monumental overhaul of one of the nation's most important institutions it may be, but don't expect any respite on the interest rate front. The sweeping review of the Reserve Bank of Australia may have been born under a cloud of criticism about the RBA's recent performance but the huge spike in interest rates we've seen in the past year …

Lessons from the US bank crisis
2 years ago

Lessons from the US bank crisis

Hindustan Times  

Last week ended with the United States Federal Reserve raising interest rates by 25 basis points once again, taking the cumulative rate increase to 4.75 percentage points in the current cycle. Had the latest federal open market committee meeting not been preceded by two bank failures and the possibility of a crisis in many others, the rate hike would have …

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting
2 years ago

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

ABC  

Federal government ministers have acknowledged an increase in distress calls to crisis support hotlines over cost of living, but say the fight to rein in inflation must continue. Key points: The federal government has acknowledged a spike in financial distress calls to crisis hotlines Reserve Bank governor Phillip Lowe says mental health concerns of Australians weighs heavily on him The …

Will the Reserve Bank review achieve anything? What difference could it make to interest rates?
2 years, 1 month ago

Will the Reserve Bank review achieve anything? What difference could it make to interest rates?

ABC  

Decisions made by the Reserve Bank have impacted the lives of millions. Key points: A review of the Reserve Bank of Australia is due to report by the end of March The RBA's role in setting interest rates is likely to be a focus Its failure to manage inflation has seen the central bank publicly criticised Concerned about the plummeting …

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 …

Reserve Bank sticks to smaller interest rate hike despite inflation shock
2 years, 5 months ago

Reserve Bank sticks to smaller interest rate hike despite inflation shock

ABC  

The Reserve Bank has raised its cash rate target by 0.25 of a percentage point, opting against a return to steeper interest rate hikes. Key points: The RBA cash rate target went up from 2.6 to 2.85 per cent The move will add around $112 a month to repayments on a $750,000 mortgage debt RBA governor Philip Lowe said further …

Reserve Bank review will scrutinise who sits on the board and whether their views should be more transparent
2 years, 8 months ago

Reserve Bank review will scrutinise who sits on the board and whether their views should be more transparent

ABC  

The core objectives of the Reserve Bank of Australia — what it tells the public and who sits on its board — will be scrutinised in the first review of the central bank and its operations in decades. Key points: Federal Treasurer Jim Chalmers says the review is to ensure "we have the world's best and most-effective central bank" Board …

Mortgage costs to jump as interest rate rises loom, warns CBA ahead of Reserve Bank meeting
3 years, 8 months ago

Mortgage costs to jump as interest rate rises loom, warns CBA ahead of Reserve Bank meeting

ABC  

Australians could soon be paying more than $26 billion a year in extra mortgage repayments as interest rates begin to "normalise", but the Commonwealth Bank argues there are several reasons why most households will be able to cope just fine. Key points: The RBA's interest rate decision will be announced at 2:30pm AEST, followed by a rare press conference from …

RBI may cut interest rates again to support growth
5 years, 4 months ago

RBI may cut interest rates again to support growth

India TV News  

The Reserve Bank may cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip to more than six-year low on slump in manufacturing, bankers and experts said. RBI has cut interest rates on every single occasion the multi-member monetary policy committee has met since Shaktikanta Das took over as the Governor …

Will interest rates come down before elections? Today’s macro data could decide
6 years ago

Will interest rates come down before elections? Today’s macro data could decide

Live Mint  

New Delhi: Data of factory output in January and retail inflation in February to be released today may decide whether the Reserve Bank of India will be persuaded to cut policy rates on 5 April for the second consecutive time, ahead of general elections beginning 11 April. The Monetary Policy Committee of the Reserve Bank of India on 7 February …

RBI faces trouble getting banks to cut rates
6 years ago

RBI faces trouble getting banks to cut rates

Live Mint  

Indian lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth. Latest data from the central bank shows the main overnight lending rate offered by commercial banks has been sticky in a range of 8.15 percent to 8.55 percent since the beginning of …

The Federal Reserve changed its strategy on interest rates — here’s what it means
6 years, 1 month ago

The Federal Reserve changed its strategy on interest rates — here’s what it means

Salon  

The Federal Reserve just took the monetary policy equivalent of a sharp 90-degree turn. On Jan. 30, the U.S. central bank signaled that it was done raising benchmark interest rates after two years of aggressive rate hikes. In his press conference after the decision, Fed Chairman Jerome Powell pointed to several increased risks and headwinds that could throw sand in …

Small savings interest rates unchanged at 4% for April-June quarter
7 years ago

Small savings interest rates unchanged at 4% for April-June quarter

Live Mint  

New Delhi: The government on Wednesday decided not to tinker with the interest rates on small savings schemes, including National Savings Certificate and Public Provident Fund, for the April-June quarter. “On the basis of the decision of the government, interest rates for small savings schemes are to be notified on a quarterly basis,” the finance ministry said while notifying the …

RBI monetary policy today: Will central bank defy consensus and cut interest rates?
7 years, 3 months ago

RBI monetary policy today: Will central bank defy consensus and cut interest rates?

India TV News  

The Monetary Policy Committee of the Reserve Bank of India is likely to hold interest rates at its penultimate monetary policy review of the fiscal owing to higher inflation in October and a surge in oil prices. At its previous bi-monthly policy review in October, the RBI had maintained status quo on its repo rate at 6 per cent, citing …

Reserve Bank: Interest rates on hold at 1.5pc
7 years, 8 months ago

Reserve Bank: Interest rates on hold at 1.5pc

ABC  

The Reserve Bank has left the official cash rate on hold at a record low 1.5 per cent and it seems it is going to stay there for the foreseeable future. The cash rate has been at 1.5 per cent since the RBA last cut rates by 25 basis points in August last year. "The RBA does not yet appear …

The Latest: Yellen wants to ease regulations for small banks
8 years, 1 month ago

The Latest: Yellen wants to ease regulations for small banks

Associated Press  

WASHINGTON — The Latest on Federal Reserve Chair Janet Yellen’s testimony to the Senate Banking Committee : ___ 11:45 a.m. Federal Reserve Chair Janet Yellen says the Fed has been trying to reduce the regulatory burden on community banks and is open to doing more. ___ 11:15 a.m. Federal Reserve Chair Janet Yellen says that if the Fed had followed …

RBI seen to cut interest rate tomorrow, but may flag risks
9 years, 6 months ago

RBI seen to cut interest rate tomorrow, but may flag risks

India TV News  

RBI seen to cut interest rate tomorrow, but may flag risks New Delhi: Reserve Bank Governor Raghuram Rajan is widely expected to cut interest rate tomorrow by a quarter per cent to a 4-year low to accelerate a sluggish economic recovery, but may underscore concerns over prices New Delhi: Reserve Bank Governor Raghuram Rajan is widely expected to cut interest …

Top analysts react to RBI’s move on interest rate
10 years, 2 months ago

Top analysts react to RBI’s move on interest rate

The Hindu  

The Reserve Bank, in a beyond-policy-meeting announcement on Thursday morning, cut key policy rate by 25 basis points from 8 per cent to 7.75 per cent. Reserve Bank Governor Raghuram Rajan in a statement said disinflationary developments along with the Government’s resolve to adhere to its fiscal deficit target provided headroom to cut rates. Some reactions to the Reserve Bank’s …

Banks start cutting lending rates following RBI's move
10 years, 2 months ago

Banks start cutting lending rates following RBI's move

India TV News  

New Delhi: Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 percent, while other banks including market leader SBI have indicated that they would follow suit. Asked if State Bank of India is going to cut lending and deposit rate following the RBI action, its chairperson Arundhati Bhattacharya said: "Definitely I …

Despite Brightening Signs, Fed Is Likely To Stay The Course
10 years, 8 months ago

Despite Brightening Signs, Fed Is Likely To Stay The Course

NPR  

Despite Brightening Signs, Fed Is Likely To Stay The Course Federal Reserve Chair Janet Yellen is on Capitol Hill, delivering her semi-annual economic report to Congress. Well, today, more straining, but Fed Chair Janet Yellen told the Senate Banking Committee that despite some recent brightening in the economy, the benchmark rate won't be going up anytime soon. YDSTIE: Yellen said …

Interest rates likely to stay stable for 3-4 months: Bankers
15 years, 5 months ago

Interest rates likely to stay stable for 3-4 months: Bankers

The Hindu  

Retail and corporate loan rates may stay the same as bankers today ruled out any increase in lending rates in the next three to four months, thanks to the RBI keeping almost all key rates unchanged. But has retained the repo rate at 4.75 per cent and reverse repo at 3.25 per cent, the rates at which banks borrow and …

FM, bankers say hike in lending rates unlikely
16 years, 11 months ago

FM, bankers say hike in lending rates unlikely

Live Mint  

New Delhi: Borrowers of housing and auto loans can heave a sigh of relief as the government and leading bankers have said that lending rates are likely to remain stable despite Reserve Bank’s tightening the money supply. So going forward, in the reasonable future, I do not expect an increase in interest rates by public sector banks,” Finance Minister P …

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