Latest news with #ChrisRodwell
The Advertiser
08-07-2025
- Business
- The Advertiser
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney. From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
Yahoo
08-07-2025
- Business
- Yahoo
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
West Australian
08-07-2025
- Business
- West Australian
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
Perth Now
08-07-2025
- Business
- Perth Now
Disappointment as Reserve Bank leaves rates on hold
From struggling retailers to squeezed mortgage holders, the Reserve Bank of Australia's surprise call to leave interest rates on hold has left many disappointed. Markets and economists were broadly in favour of a 25 basis point cut in July but the central bank board has decided to wait for more evidence on inflation before considering lowering the cash rate further. Interest rates have already been cut twice this year as inflation tracks lower and the central bank's focus switches to growth prospects and job market resilience. RBA governor Michele Bullock acknowledged households with mortgages would have been "very keen" for another interest rate cut to ease budget pressure. "'I'm also really conscious that we don't want to end up having to fight inflation again," she said. The Australian Retailers Association described Tuesday's decision as a "missed opportunity" to improve the outlook of a sector employing one-in-ten Australians. "Weak consumer spending and high business costs continue to put pressure on retailers," ARA chief executive Chris Rodwell said. Real Estate Institute of Australia president Leanne Pilkington said the July call would leave borrowing costs high for first home buyers. "We understand the RBA's priority is returning inflation to its target band but this needs to be balanced against the risk of further dampening housing demand and locking first home buyers out of the market," she said. Speaking to media after the two-day cash rate meeting, Ms Bullock sympathised with young people hoping to buy but said interest rates were not the only roadblock. "In fact, I've heard criticisms that we shouldn't lower interest rates because housing prices will go up," she said. "So we can't win really." The governor said the question of housing prices was largely for governments to address. Further insights into the interest rate decision could be revealed in a public speech from deputy governor Andrew Hauser on Wednesday at the Australian Conference of Economists in Sydney.
West Australian
18-06-2025
- West Australian
Retailers are copping assault almost daily despite new laws to deter violence against staff
Police have charged a person almost once a day with assaulting a retail worker since new laws were introduced last year, sparking calls for a dedicated unit for addressing the crime. Data revealed under Parliamentary questioning showed since new penalties came into effect on July 1 that police have charged 329 West Australians with assaulting a shop worker — nearly one per day. Under the laws, shoppers who assault staff face up to seven years in jail, while fines were doubled to as high as $36,000 after the workers were singled out for stronger protection under a new provision in the Criminal Code. As well as hitting, throwing objects and spitting at a worker are covered by the tougher laws. Australian Retailers Association chief executive Chris Rodwell said the increased penalties would help in the battle against retail crime but called for dedicated officers to focus on the industry, like what occurs in South Australia. 'While there is an uplift in the number of reported incidents, some of this is attributable to better outcomes in apprehending and penalising offenders,' he said. 'Despite the improvements, retail crime is still a significant issue, with considerable economic and social cost. 'In the past year, crime reporting suggested incidents of retail crime have risen to 800,000 nationally, with almost one in 10 retail crime events being violent. It comes at a cost of around $9 billion annually. Retailers and their workers deserve better. 'The retail sector would also strongly support a dedicated retail crime unit within WA Police to help strengthen the impact of the existing penalties and help drive faster reductions in incident rates.' SDA WA secretary Ben Harris said the scale of the people charged was a sad reason the laws were necessary, with workers previously reporting rates of violence and abuse had climbed since the pandemic. A 2023 survey by the union of its members revealed 87 per cent said they had experienced abuse from customers in the past 12 months. Reports of physical violence rose by 56 per cent when compared with the results of a 2021 survey. 'That sort of bad behaviour and rudeness from customers has moved into this abusive and violence kind of space, which is causing significant harm to our members,' Mr Harris said. 'It's good to see that they these laws are being utilised, and people are putting in complaints, and the police are taking seriously these matters, and that the people being charged. 'As the judiciary deals with these matters, the consequences of this behaviour and the the approach taken by our courts will actually be the next step in sending that message. 'We constantly encourage our members to not let anything go and don't do not accept this behaviour. Don't accept that this is just part of being in retail.'
