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Good morning and welcome to our rolling new coverage. Before today’s regular blogger comes along, this is Martin Farrer with the best of the overnight stories to get you started. The Reserve Bank is expected to keep its key rate unchanged for a seventh meeting in a row today, according to a survey of 45 economists by Reuters, prolonging the agony for Australia’s leveraged households. The bank lifted the rate 13 times between May 2022 and last November.
But despite soft growth and lower inflation, the RBA’s governor, Michele Bullock, and the board are tipped to keep the rate steady. We’ll have the announcement at 2.30 and plenty of reaction. Nurses in New South Wales are due to walk out for another 24-hour strike this morning. It comes as the Victorian government agreed to wage increases for ambulance workers that will range from 16.98% to 33% over the next four years, including more than 20% for experienced paramedics.
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More people are seeking help as Australia's economy slows down, RBA governor acknowledgesRBA governor Michele Bullock says more people are seeking help from community organisations as the economy slows down, but the fight against inflation must be won.
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