The Reserve Bank of Australia (RBA) has reported an accounting loss of AU$4.2 billion for the last financial year, exceeding total losses by AU$51 billion since the onset of COVID-19. RBA governor Michele Bullock announced the central bank incurred a loss of AU$4.2 billion, during 2023-24, recording its fourth consecutive year of accounting losses. The … Read more
The Labor government’s plan to reform the Reserve Bank of Australia (RBA) faced another setback on Monday when the Greens refused to support the reform bill until Treasurer Jim Chalmers exercised his power to lower the interest rate. “The Reserve Bank should lower interest rates tomorrow and if they don’t, the Treasurer should use his … Read more
The Reserve Bank of Australia (RBA) may push for more stringent measures, including raising interest rates, due to the slow decline in the inflation rate. According to the Minutes of RBA’s Monetary Policy Meeting released on Tuesday, despite a slight decline in the underlying inflation rate, it remained persistently high outside the target range of … Read more
