There’s no reason why Australian lenders couldn’t offer 30-year fixed-rate mortgages, as they do in the US. It could save borrowers thousands of dollars in interest a year.
Articles on Philip Lowe
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The case for the RBA increasing interest rates certainly exists. But it’s far less pressing than in the United States.
Australia’s Consumer Price Index rose 1.3% in the three months to December, bringing inflation for the 2021 year to 3.5%.
Australia faces economic problems down the road if three big, structural reform areas — housing affordability, the tax mix, and decarbonisation — are not addressed.
The independence of Australia’s central bank doesn’t make it infallible. It should welcome peer review.
The last time Australia’s unemployment rate was below 5% was June 2011.
The Reserve Bank governor’s ‘forward guidance’ risks him not adapting to changing circumstances, or undermining his credibility.
The Reserve Bank of Australia is ready to taper off the ‘unconventional’ monetary policy measures introduced in response to the COVID-19 crisis.
The government has released the latest Tax Office breakdown of the numbers coming off the program, amid concerns its end in late March will see a rise in unemployment.
The Reserve Bank Australia has exhausted the limits of monetary policy, There’s no magic pudding, says governor Philip Lowe.
After decades of research showing the link between union power and wages growth, government economists don’t want to talk about it.
Philip Lowe is on the cusp of permanently changing Australia. He stands a good chance of being one of the best governors since the first, who ushered in the goal of full employment.
The new RBA monetary statement is just like the old one.
Reserve Bank of Australia governor Philip Lowe has effectively ruled out an interest rate rise until wage growth tops 3%.
The Reserve Bank of Australia is stuck, according to the economic evidence, it has to raise rates but it also should cut.
The amount of Australians in mortgage stress is the reason why wages growth and the labour market are such a problem - and a big reason for the RBA not to raise rates any time soon.
Building negotiating power is crucial for anyone looking to ask for a pay rise. But for those who can’t, perhaps it’s the employers’ responsibility to ensure fair compensation.
For a whole lot of workers in Australia, cutting a better pay deal is very hard.
Some seem to think the RBA is bullish on growth, but reading between the lines it seems to be hedging.
The odds are the Fed will raise rates once and the RBA will cut once before the end of the year.
Top contributors
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Scientia Professor of Economics, UNSW
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Professorial Fellow, University of Canberra
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Lecturer in Economics, Monash University
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Senior lecturer, Canberra School of Government, University of Canberra
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Laurie Carmichael Distinguished Research Fellow at the Centre for Future Work, Melbourne; and Professor Emeritus, Griffith Business School, Griffith University
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Dean of Business School, University of Southern Queensland
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Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
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Professor of Management - Negotiations, Melbourne Business School