Name: LISTEN: Economists divided on Reserve Bank rate cut in midst of election by PeterRyan
Duration: 5 min 1 s
Description: Futures markets are factoring in a 44 percent chance that the Reserve Bank will cut interest rates at today's board meeting in the midst of an election. While borrowers are set to get cheaper money, Nationals Seniors Australia warns low deposit rates is making life harder for retirees who might be tempted to take on riskier investment in search of better returns.

ANZ economist Catherine Birch says another interest rate rise can't be ruled out after quarterly inflation came in slightly hotter than expected. While Ms Birch and other market economists still believe the Reserve Bank's next move will be down, signs of sticky inflation and resilient economy remains a concern.

Reporter: Peter Ryan, Senior Business Correspondent
Featured: Catherine Birch, economist, ANZ

Inflation continues to slow - but not slowing fast enough

The 13th interest rate hike since May 2022 is looming as a real possibility after evidence that inflation remains entrenched in Australia's economy.

That hotter-than-expected inflation is now pushing out hopes for a long-awaited interest rate cut to early next year .. with a warning the Reserve Bank might need to risk a recession to tame the inflation beast.

I speak with Judo Bank economic adviser Warren Hogan.

Don't rule out a 13th interest rate hike with inflation remaining hot, warns economist Warren Hogan

The world's biggest mining company BHP has launched a monster bid for assets owned by its rival Anglo American.

The takeover bid is valued at US$40.5 billion (A$60 billion) as BHP tries to get hold of more copper assets that will be used in the renewables transition.

BHP in US$40b bid for Anglo American copper assets in race to harness renewables demand

Millions of club patrons in New South Wales have had their personal data potentially compromised in a major data breach. Clubs NSW says it's aware of a "cybersecurity incident" involving fewer than 20 clubs in NSW. Also, the US Federal Reserve leaves interest rates on hold.

Millions potentially impacted in NSW clubs data breach

National Australia Bank chief executive Andrew Irvine has called out violence against women and says while major steps have been made to stamp out financial abuse, more needs to be done. Releasing the bank's half year financial results, Mr Irvine said more borrowers and renters pressured from the rising cost of living are seeking help from welfare agencies.


Reporter: Peter Ryan, Senior Business Correspondent
Featured: Andrew Irvine, National Australia Bank chief executive

NAB boss Andrew Irvine says more to be done in financial abuse crackdown

There's another warning today that official interest rates will probably stay higher for longer - and that the federal government needs to rein in spending to help tame inflation.

Just out from the Federal Budget on May 14, the Paris-based OECD is urging Treasurer Jim Chalmers to address runaway spending and growth in the cost of the National Disability Insurance Scheme.

OECD warns on NDIS spending and need to slow growth in costs; no good news for Bonza travellers

NDIS minister Bill Shorten has rebuked the OECD for warning that the ballooning costs of the National Disability scheme need to be reined in. While acknowledging the OECD's advice, Mr Shorten scoffed at what he's called "self-appointed foreign experts" who should to be looking at improving disability services elsewhere in the world.


Reporter: Peter Ryan, Senior Business Correspondent
Featured: Bill Shorten, NDIS minister

Bill Shorten rebukes OECD "self-appointed experts" on NDIS costs warning

With the federal budget just a week away, Treasurer Jim Chalmers is busy managing expectations about any major cash splash for struggling Australians - except for what he calls "unavoidable spending". Dr Chalmers is warning budget revenue will just be a "fraction" of previous bumper years although he thinks another budget surplus is still within reach.


Reporter: Peter Ryan, Senior Business Correspondent
Featured: Chris Richardson, independent economist

Inflation risk everpresent as Treasurer flags "unavoidable budget spending"

Qantas will pay a $100 million civil penalty after admitting it sold fares for flights it had already decided to cancel. The remarkable admission that it misled travellers means Qantas will also have to shell out another $20 million to compensate 78,000 customers hurt by the cancellations.


Reporter: Peter Ryan, Senior Business Correspondent
Featured: Gina Cass-Gottlieb, ACCC chair; Vanessa Hudson, Qantas chief executive; Michael Kaine, national secretary, Transport Workers Union

Qantas to pay $120 million to settle ACCC ghost flights case as damage control continues

It's a big day for anyone with a home loan who are no doubt watching for any sign of any interest rates relief.

The Reserve Bank will deliver it's latest rates decision this afternoon - but rather than signalling a rate cut, the Board is likely to warn another rate hike might be back on the agenda.

Interest rates to stay on hold but expect Reserve Bank inflation warning .. and rate hike risk

Futures markets are factoring in a 44 percent chance that the Reserve Bank will cut interest rates at today's board meeting in the midst of an election. While borrowers are set to get cheaper money, Nationals Seniors Australia warns low deposit rates is making life harder for retirees who might be tempted to take on riskier investment in search of better returns.

LISTEN: Economists divided on Reserve Bank rate cut in midst of election

Peter Ryan is the one of the ABC's most experienced journalists, contributing to a range of ABC News programs including the flagship radio current affairs program AM, The World Today, PM and ABC NewsRadio.

With more than 30 years of journalism experience, Peter  rejoined the ABC in 2003 as Executive Producer of the ABC Television's Business Breakfast program.

In 2006, he oversaw the development of two new business programs - Lateline Business on ABC Television and Business Today on the ABC's Asia Pacific television service, Australia Network.

Peter's previous journalism career included three years as the ABC's Head of TV News and Current Affairs in Melbourne; more than four years as Bureau Chief and television correspondent at the ABC's Washington Bureau; a year as a producer at the BBC in London; and a range of ABC reporting and producing roles in Melbourne, Sydney, Darwin and the South Pacific.

In addition to journalism, Peter Ryan spent four years in the corporate communications sector as a Director at Weber Shandwick Worldwide and then as a Principal at Porter Novelli in Melbourne.

Peter began his journalism career in newspapers at Sydney's Daily Mirror and he worked in Sydney commercial radio before joining the ABC in 1984.

All copyright and intellectual property used in these reports resides with the Australian Broadcasting Corporation.

LISTEN: Economists divided on Reserve Bank rate cut in midst of election

PeterRyan

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