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
Prime Minister Anthony Albanese has played down former Labor Treasurer Wayne Swan’s criticism of the Reserve Bank of Australia’s (RBA) monetary policy, which the latter described as “punching itself in the face.” Swan denounced the RBA’s policy as favoring economic dogma over sound decision-making, arguing that high interest rates were burdening households, which limited spending … Read more
As Australia’s Treasurer Jim Chalmers agreed to the amendments from the Opposition, the Reserve Bank of Australia got closer to its restructure bid in three decades. An independent review of the RBA last year recommended several proposals, including dividing the bank’s board — one responsible for monetary policy, which will continue to set interest rates, … 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
Pixabay The Reserve Bank Of Australia (RBA) retained its 12-year-high interest rate at 4.35% for the fifth time, even as it did not rule out a future hike. At the end of the two-day policy meeting, the RBA decided to retain the interest rate, which was set last November, but added the need to be … Read more
As Australia’s unemployment rate in April jumped to 4.1% from a 3.9% in March, it diminished another chance for a hike in interest rate by the Reserve Bank of Australia (RBA). While the official number of unemployed people increased by 30,300 last month, the number of employed people increased by 38,500. “A 30,000 people increase … Read more
Pixabay The Reserve Bank of Australia (RBA) announced that the cash rates will be kept on hold at 4.35%, avoiding a tightening bias as demanded by economists to curb inflation. Wrapping up its two-day May policy meeting, RBA kept rates at a 12-year high, avoiding a hike as economists suggested after first quarter inflation, Reuters … Read more
Rupee hit an intra-day high of 83.47 and a low of 83.52 against the greenback. | Photo Credit: The Hindu The Rupee consolidated in a narrow range and settled higher by one paisa at 83.51 against the U.S. dollar on May 7, amid a negative trend in domestic equities and strong dollar demand. Forex traders … Read more
