Business

The Reserve Bank has raised interest rates by another 25 basis points to 4.35 per cent, undoing last year’s relief. Governor Michele Bullock hinted at more pain and cautioned against higher government spending.

For borrowers, the question is not simply whether rates will rise again, but if paying for certainty now is worth the risk of being locked in later.

The blockade remains, the war began 65 days ago, and the President still has to deal with the question of Iran’s uranium.

Westpac’s chief executive Anthony Miller fears multiple rate rises will spark a recession in Australia.

Tax breaks for electric vehicles will be significantly curtailed in a move expected to save the budget $1.7 billion as Treasurer Jim Chalmers says large cuts across the board will help reduce demand.

Big cuts in next week’s Budget will help reduce demand in the economy as inflation runs hot again, Treasurer Jim Chalmers says as he pledges to deliver a net saving in the bottom line.

A former senior research manager with the Reserve Bank has warned home borrowers of three more rate hikes that would take mortgage rates to levels last seen in 2008.

The regulator’s enquiries are focused on trading last year by Accent boss Daniel Agostinelli, non-executive director Michael Hapgood and an unnamed senior employee.

NAB chief executive Andrew Irvine says a recession is now ‘possible’ as the fuel crisis sparks another Reserve Bank interest rate rise to combat inflation. National Australia Bank’s half-year profit plunged.

The media group says director Teresa Dyson will replace Heith Mackay-Cruise when he finishes up on June 30.

A big four bank with a strong focus on business lending says many of its clients are ready to manage cost volatility as the Middle East conflict continues.

The owner of Dan Murphy’s and BWS liquor stores is stocking up on booze as it braces for a hit of up to $8 million on higher fuel costs related to the ongoing war in the Middle East.

Traders and economists expect the central bank to raise interest rates for a third straight meeting but high uncertainty could result in another split decision.

First-home buyers have discovered their dream home just became $73,100 further away due to a surprising impact of interest rate hikes.