The business lobby is throwing all the toys out of the cot because #Unions and rank and file voters have successfully lobbied the Labor Party to consider appointing worker representatives to the #ReserveBank Board.

To paraphrase George Bailey:

"It's working people who do most of the making and sweating and paying of the interest rates around here: it's not too much to expect that they have someone speaking for their interests while they do it"

https://www.news.com.au/finance/economy/australian-economy/employers-take-aim-at-cfmeu-over-rba-board-representation-push/news-story/491ef84d674a9965e55e91035574bc04

RBI Predicts Temporary Surge in Inflation Due to Vegetable Prices.

#RBI #Inflation #Vegetable #VegetablePrice #ReserveBank #GangaNews

https://www.ganganews.com/india/rbi-predicts-temporary-surge-in-inflation-due-to-vegetable-prices/

RBI Initiates the Pilot Project for the Public Tech Platform designed to facilitate seamless credit process.

#RBI #CreditProcess #TechPlatform #PilotProject #PublicPlatform #ReserveBank

https://www.ganganews.com/india/rbi-launches-public-tech-platform-for-seamless-credit/

Delhi HC dismisses plea challenging RBI's decision to withdraw Rs 2000 note from circulation
#RBI #Rs2000 #ReserveBank #DelhiHighCourt #press

Crypto 'regulatory approach isn't needed now' — New Zealand central bank - Reserve Bank of New Zealand however said that crypto and stableco... - https://cointelegraph.com/news/new-zealand-central-bank-holds-on-crypto-regulations #reservebank #centralbank #newzealand #crypto #rbnz #nz

Today, the #ReserveBank released the 27th issue of the #FinancialStabilityReport (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian… https://twitter.com/i/web/status/1674001247278604288 #press

https://chaser.com.au/general-news/im-not-out-of-touch-says-man-attending-25k-dinner/
“RBA chief and millionaire Philip Lowe” #ReserveBank #InterestRates #auspol

Still working for #ScottyfromMarketing #ReserveBank #auspol

https://www.afr.com/politics/federal/rba-governor-warns-labor-over-wages-20230525-p5dbei

“RBA rate hikes creating inflation, top economist says, calling for radical policy overhaul”

Good call #RossGarnaut. When the #ReserveBank works in the interests of a smaller and wealthier group of institutions, the outcomes for the rest of us will necessarily become worse. #ItsTheSystem #ChangeTheSystem

https://www.abc.net.au/news/2023-05-05/ross-garnaut-rate-hikes-feed-inflation-urges-policy-overhaul/102302152

Lowe has to go! #ReserveBank #Auspol

https://www.theage.com.au/politics/federal/rba-lifts-rates-by-0-25-percentage-points-in-surprise-move-20230502-p5d4zp.html?btis

I don't understand economists' thinking. The Reserve Bank has just lifted the base rate to 5.25% which is going to hurt a lot of people.

https://www.stuff.co.nz/business/131702800/reserve-bank-lifts-official-cash-rate-to-525

#NZ #ReserveBank #Interest

2/ "Landman believes #SouthAfrica to be in a recession, since economic growth is not matching up to the 2.1% population growth rate. However, he does not believe South Africa to be a failed State, although some of the State’s functions are indeed failing, such as the ability to supply quality electricity, water and roads.

[...] many State functions that were still working well, including the [...] South African #ReserveBank, the [...] Revenue Service and the National Prosecuting Authority"

Australian central bank to launch 'live pilot' of CBDC in coming months - The use cases for the CBDC ranged from offline payments to "trust... - https://cointelegraph.com/news/australian-central-bank-to-launch-live-pilot-of-cbdc-in-coming-months #centralbank #reservebank #australia #cbdcpilot #cbdctrial #e-aud #cbdc #rba

Reserve Bank will give us change for $5 https://andrewhansen.au/reserve-bank-will-give-us-change-for-5/ #IndependentAustralia #ReserveBank #$5Note

With respect to the role of the RBA I don’t get it. Interest rates are the only mechanism they have to reduce spending and the thought is that a decrease in spending will result from rate rises thereby decreasing inflation

However, the only people affected by rate rises are mortgage holders while those who already own their homes have money and will keep spending. In this climate, are their sufficient mortgage holders to really reduce inflation?

#RBA #ReserveBank #PhilipLowe #Inflation

https://www.inkl.com/news/reserve-bank-warns-of-more-interest-rate-rises-and-large-increases-in-rents-amid-inflation-crisis/EbEmzZHkZdj

“The board is seeking to keep the #economy on an even keel as it returns inflation to target, but these uncertainties mean that there are a range of potential scenarios. Members agreed that the path to achieving the needed decline in #inflation and achieving a #softLanding for the economy remained a narrow one.”
#ReserveBank #RBA warns of more interest rate rises and ‘large increases in rents’ amid inflation crisis - The @Guardian via @inkl https://www.inkl.com/a/EbEmzZHkZdj

"None of this says that the Fed shouldn’t be trying to reduce inflation. But you shouldn’t invoke the plight of the poor as a reason for tight money. If anything, tight money, by leading to more slack in labor markets and therefore more unemployment, will disproportionately hurt lower-wage workers."

https://www.nytimes.com/2022/11/29/opinion/inflation-poor-income-inequality.html

#NZPol #NZPolitics #Inflation #ReserveBank #OCR

I’m sorry, but enough with fucking middle aged, rich, white men getting away with anything without consequences!

I’ve paid the price for every decision I’ve made.

#rant #reservebank #equity #BetterWay

https://www.abc.net.au/news/2022-11-28/rba-governor-philip-lowe-apologises-to-australians-mortgages/101705340

“Monetary policy is a blunt instrument.”
— Paul Conway,
The chief economist of the Reserve Bank of NZ

Q. Who killed the New Zealand economy?

A. Adrian Orr, in the living room, with a blunt instrument.

https://thekaka.substack.com/p/the-rbnz-throws-a-wet-blanket-over#details

#NZEconomy #NZPolitics #RBNZ #ReserveBank #InterestRates #Inflation #BernardHickey #TheKaka

Philip Lowe #ReserveBank has no idea about what life is like for low paid workers. Saw him enjoying his 3 course probably taxpayer funded meal then telling others to tighten their belts. And he laughs about it as he talks. Morrison leftover! Disgusting! #LoweHasToGo
#auspol #afternoonbriefing #abc730 #thedrum #breakfastnews