RBA Hits Pause on Interest Rates but Warns More Rises to Come The Reserve Bank of Australia (RBA) has decided to keep interest rates on hold at 4.1 per cent, but has issued a warning that more rate hikes will be needed to control inflation. RBA Governor Philip Lowe stated that falling inflation and sluggish […]
New Zealand’s Economy Dips Into Recession Amidst Higher Interest Rates WELLINGTON, New Zealand — New Zealand’s economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show. Gross domestic product fell by 0.1% in the March quarter, following a revised 0.7% fall in the previous quarter, Statistics New Zealand […]
New Zealand’s Economy Falls into Recession as High Interest Rates Take Their Toll WELLINGTON, New Zealand — New Zealand’s economy has officially entered a recession, with new figures showing a 0.1% decline in gross domestic product (GDP) in the March quarter. This follows a revised 0.7% fall in the previous quarter, fulfilling the nation’s definition […]
Australia in Retail Recession due to Inflation and Interest Hike, Deloitte Report indicates According to a recent report by Deloitte Access Economics, the ongoing inflation and higher interest rates have resulted in a “Retail Recession” in Australia. The report indicates that retail turnover has sunk 0.6% in the March quarter, twice the pace of the […]
RBA Governor Philip Lowe Warns About Inflation and Interest Rates Introduction The Reserve Bank of Australia’s Governor, Philip Lowe, delivered a message of caution to the millions of Australians currently struggling with surging mortgage repayments. In a speech delivered to investment bank Morgan Stanley’s Australian conference, Lowe stressed the importance of using the only tool […]
Opinion: Philip Lowe’s Growing Inflation Anxiety and Its Potential Impact on Australia’s Economy Overview The Reserve Bank of Australia (RBA) is becoming increasingly concerned about its ability to ensure that inflation falls back to its target range of 2-3%, with governor Philip Lowe wary that the central bank’s timeframe could be jeopardised. While the RBA […]
Reserve Bank of Australia Raises Interest Rates to Tackle Inflation The Reserve Bank of Australia (RBA) has raised interest rates for the 12th time in just over a year in an attempt to tackle inflation. The decision to increase the cash rate by another 25 basis points has brought the official rate to 4.1%, its […]