RBA Meeting Shadowed by Controversy Over Reforms
The Reserve Bank of Australia (RBA) building in Sydney, Australia, on Tuesday, Feb. 6, 2024.
Photographer: Lisa Maree Williams/Bloomberg
Hi all, it’s Jackie here in Sydney. Here’s our news radar this morning…
Today’s must-reads:
• Stuttering RBA overhaul in focus
• Rightmove weighs REA’s latest bid
• Rio Tinto urges more mines
The RBA will likely maintain interest rates today at 4.35% and keep its hawkish stance as housing costs prop up inflation. Treasurer Jim Chalmers’ plans to overhaul the central bank suffered a major setback after the left-wing Greens party demanded the government order a rate cut.
Rightmove said it will consider a £6.1 billion ($8.1 billion) sweetened bid from REA, the third proposal in less than three weeks from the property portal. The improved offer values Rightmove at 770 pence a share, or 2.8% higher than the previous bid.