Philip Lowe acts too much that makes our life suddenly like living in the third world. I could afford one piece of toast four months ago daily but now I could only afford quarter to half piece of toast daily. The crazy increasing interest rate squeeze up all my saving unless we took all my family including 1 yrs old baby sleeping on the street, to avoid spending crazy mortgage repayment after the crazy cash rate rocket raised by Philip Lowe. Thank you Philip for bring us to the third world!

Someone should tell the old fossil, we are not spending on luxury goods, we are not wealthly like Mr lowe himself. We are spending money on necessities such as petrol, electricity and food... which we have no control over. By giving the banks extra $2 billion profit a quarter will not stop inflation. Unless the old fossil wants us mortgage payers to stop eating, heating up our houses and transporting to work.. so the old lap dog can make extra profits for his bank mates.

Very disappointed in the RBA who have misled the people of Australia. We were mortgage free until 2012 and upsized with a large mortgage 18mnths ago, with the understanding there would be no rate hikes until 2024. We are fixed until April, but then may lose our house. Can't afford to send kids to the school we want, will be ending private health insurance and medical care will no longer be an option. As for kids sport etc, forget it... we are screwed. Rate hikes will not fix the Russian/Ukrainian war and supplier shock from Covid. :( Not an Economist amongst them :(

Dr Lowe to be sacked. Liar and deceiving Australian people. What a fantastic few years we have had. All these rate rises have had no effect at all on inflation. Nothing at all with inflation still increasing. Petition for Lowe to be sacked

Congratulations!! You guys play major part in making Australians HOMELESS. Kudos to your talent. Just keep rising interest rates and very soon banks will be owning all properties in whole country. You are not fit for any job

How can you justify spending $25,000 on a single dinner for you and your mates and then have the Hyde to tell us we're spending to muchand that inflation is our fault. We can barely afford to eat. Hypocrites! 😡

Cash rate is a tool to fight inflation led by high salary. We are clearly not in this situation. You should be tackling all the companies increasing their prices for increasing their profit. Many have no other reasons than the global inflation and other industries have their costs increasing

The entire board of this so called bank exhibited absolute negligence and incompetence, and a complete lack of understanding of economics or banking, when lowering the interest rates to almost zero and then stating that they will remain that low until 2024. The Reserve Bank of Australia is in bed with the Australian banking industry and property developers. They have shown that their priority is for people to deplete their savings and to heavily indebt themselves. The entire board should be fired immediately. If the bank were a private bank it would now be the defendant in a class action for misleading and deceptive conduct. The RBA's recent estimation that inflation will peak at 7% (a figure it revised up from 6%) should be dismissed entirely, as (1) inflation will exceed this amount, and (2) it can be seen that the RBA can't be trusted with any predictions or estimations and that it generally has little to no idea at how its nonsensical decisions and policies impact the Australian economy.

PHILLIP LOWE has performed a very Low act. HE HAS MISLEAD AND DECEIVED the whole Australian community. HE SHOULD HAVE HANGED ALIVE. He has deliberately lied in Public. Our community are struggling financially and left homeless due to exorbitant interest rate hike which banks are profiting but poor people like me are paying a high interest rate and or evicted from our own homes as the banks are taking advantage and repossession. THERE SHOULD BE A LEGAL ACTION TAKEN ON PHILIP LOWE because of his misleading and deceptive conduct WHO DELIBERATELY CHEATED AND MADE BANKS MORE PROFITABLE.

Really dumb decision, looking at spending data to make decision like cat playing chasing tails! Of course the spending will be high because all the basic needs prices are gone up, what do you expect?? Make a better and fairer rules like other countries such as implement property progression tax for those who own multiple properties that HAS been paid off to get more tax or even to someone who has multiple properties but not rented out to get taxed more or something, not just simply raising rates which affect only 35% of the Australian hard working population and forced them to pass some of them to renters

thanks mr lowey, i am collecting a motza in my savings account, all that hard work saving and living within my means in the last five years and not taking out a 1.5million dollar mortgage because everyone else was the best decision ever. RAISE THE RATE!!!! All those people whinging about you increasing the rates, dont listen to them, shake it off, haters going to hate. their fault for borrowing 6x income and being financially illiterate. Please raise rate 5%+!!!!!!!!!

They spend all this time and money yet they aren’t doing the CRITICAL research! They need to except that causation AND correlation is the SAME THING! Also tried to open an account and they said they weren’t that kind of bank. 1/5 confused stars

Tell some truth when you calculate CPI. What a joke. Inflation is off to the races

The recent crash in pay id payments at the hands of the reserve bank is absolute disgusting. People left without money to feed their kids and pets or basic necessities getting to work- its a basic human right people should have access to their money. Hoping the reserve bank suffers law suits and everyone decides to boycott the banking industry and just use cash. I wont be trusting banks and transfers after this.

Incompetent and Servant to the big 4. If lawyers see this review, they should consider a massive class action against the RBA for backing of at least 60% of the population for negligence, when stating the interest rates will remain unchanged till at least 2024!!!

Cleuless and out of touch with reality! As our economy tanks, and we approach recession they raise interest rates.. the greatest threat to our cost of living. The exact opposite of what they should be doing. The things causing inflationary pressure are irrelevant, out of our control, and not sensitive to interest rate rises. RAISING RATES WILL NOT FIX INFLATION IN THIS INSTANCE!!!! How can a modern day Reserve Bank be so out of touch. And who profits from this? The banking sector does! They made huge profits during the covid years however feel they were left short. Now they want there pound of flesh and then some. Their greed is unquenchaeble. The RBA (and Reserve Banks worldwide) are facilitating this greed to support their Banker friends.... FACT.

I called asking whether the Reserve Bank was available for a children's party as a clown, as I heard they were available from September for further tomfoolery. The Reserve Bank was unable to accommodate my booking. My son is crying, thank you

They & the Govt have made a roof over their heads very expensive and the Australian has regressed a lot in the last 60 years if measured by Public benefit rather figures like GDP that mean nothing without context, and are mainly used by Political parties to look good.

Terrible and non-progressive place to work, the office is riddled with bullies at senior executive level. HR supports the bullies. Would give 0/5 if I could!

If you think they've managed the economy irresponsibly so far - Just wait until they introduce CBDC and start putting expiry dates on your money to encourage spending, or deleting your dollars for wrong speak.

Dining experience was ok. Service was lacklustre and there was not much explanation about the courses we were served. We had to really dig in to find out what’s going on…. Menu was ambiguous but most of the food tasted ok, tho with each course prices increased and portion decreased. Don’t recommend.

its the opposite these rate hikes have cause housing and renting inflation i think its time to lower it all its doing is helping the rich and is stabbing the poor .. booo time to lower it to 0.14 . got it ive lost 200 a fortnight on a pension thats like my food money wheres my food gonna come from my rent has gone up almost double . i basiclly have lost any savings and maybe alot of my food on these rental increases when the money increases in welfare or jobs it doesnt cover these costs caused my rate hikes . people need to spend to help business you need a balance .. you literally need to add 200 dollars extra to cover my losses and im not lying .. but even if you do lower it are the landlords and real estate gonna lower it back down what has this caused

Australia's central bank owns by the Commonwealth of Australia. Was established in 1960 as central bank and banknotes issuing. This building stands out in Martin Place. I always noticed the sculpture, Free Standing, just outside the main entrance from Martin Place. I love coming here to visit the museum and noticed a lot of school children doing the same tour. The museum opens Monday to Friday from 10am to 4PM. Worth doing the guided tours which takes about half hour to do. Lovely interior with great welcoming staffs onsite to guide you. Worth exploring especially the museum and the history of this important institution and money. Martin Place station is right next door.

They have a free self guided tour (also group guided tours) where you can look through Australia's history of money (and a bit of Aussie history along the way) seeing the evolution of the first notes and coins used in Australia to the world's first polymer currency and the notes we use today. The Australian spin-off now makes plastic currency for several countries. Takes about 2 hours if you read through everything, otherwise it can be a quick one hour perusal.

Rating: ⭐ (and that's only because we're feeling generous) Oh, dear Australians in the battle against the ever-rising cost of living, gather 'round as we regale you with a tale of our hilarious (and wallet-draining) encounter with the Reserve Bank of Australia (RBA). Get ready for a comedy show where interest rates take center stage and your savings become the punchline! From the moment we heard of the RBA's majestic fortress of monetary control, we felt like we had stumbled into a parallel universe where customer service and efficiency were long-lost relatives. It was as if we had landed in a comedy sketch without any laughter track. Let's start with the RBA's uncanny ability to control interest rates. It's like they possess a mystical power that affects the very fabric of our financial existence. One minute, they're lowering rates, enticing us to borrow money like there's no tomorrow. The next minute, they're raising rates, squeezing our wallets tighter than a pair of pants after a big holiday feast. It's a wild ride that keeps us guessing and our bank accounts gasping for air! And speaking of bank accounts, let's not forget the delightful game of "Guess the Interest Rate" that the RBA plays with us. It's a bit like playing Russian roulette with your mortgage, except the bullet is the interest rate increase that nobody saw coming. One day, you're sipping your morning coffee, thinking you've got the lowest rate in town, and the next day, you're frantically searching for loose change to cover the sudden spike in repayments. Comedy gold, right? But wait, there's more! The RBA's control over interest rates also comes with a side dish of skyrocketing living costs. It's like they've mastered the art of turning everyday essentials into luxury items. Milk? That'll cost you an arm and a leg. Bread? Might as well take out a second mortgage. And don't even get us started on avocado toast. It's no longer a delicious brunch option; it's a symbol of financial ruin! Now, we understand that the RBA's goal is to balance the economy and keep inflation in check, but we can't help but chuckle at the sheer absurdity of it all. It's like they're playing a grand practical joke on the entire nation, turning our financial stability into a sitcom plotline that would make even the most cynical comedy writer crack a smile. So, dear Australians, as we bid adieu to our uproarious encounter with the Reserve Bank of Australia, let us raise our glasses (filled with affordable tap water, of course) and toast to the RBA's knack for interest-rate shenanigans and the cost of living challenges they bring. May we find humor in our financial struggles, and may the laughter help us navigate the twists and turns of the economic rollercoaster ride!

absolute sickunts may 2022 edit: dog act mate raising them rates today, had to take a star off June 2022 edit: absolute dog c@nts ruining my early retirement! 0 stars

Good advocacy on climate risk. But total patsies on land price inflation.

Dr Lowe's notorious pledge to Australians, made as recently as 2021, was that interest rates would not ascend again "until at least 2024." This was one of the main reasons why a large number of investors enthusiastically sought loans from banks and funneled their funds into the housing market. Unfortunately, these aggressive investments have induced a surge in housing prices, pushing them beyond manageable levels.

Please read this to understand why increasing interest rates is our own doing partially. RBA Moving swiftly to tackle high inflation and keep the dollar competitive and valued. In 2021-2023 unfortunately, people behaviour unexpectedly added billions of dollars into circulation by rapidly demanding and increasing house prices. Wages have increased as well and unemployment have decreased leaving the RBA no choice. Who ever got a supercheap loan at a low 2% in 2021 and 2022 with a serviceability of only 3% should have realised sooner or later interest was going to go up and made provisions to either buy a smaller house instead or work longer hours. Also just go to the shopping malls and see the spending habits of people I think we are directly seeing the effects of our own doings. Someone can explain to me why am am wrong. I am not an economist.

Am I wrong or just plain dumb but these interest rate rises are only affecting mortgage holders…I understand there is a flow on effect but Mortgage holders are generally those people who have scrimped and saved to get into the market. Most mortgage holders I know have had second jobs, driven old cars or lived at home, to save up enough to get a deposit to purchase something that will hopefully be their own one day. Those people already know about saving and the constraints which go with paying off one of the biggest investments you are ever likely to make. Not to mention the add ons, like rates and insurances. These rate rises are now seeing these same people, who have saved up their pennies, having to find up to $1000 extra a month??? Why are these people your targets? Pushing families to the brink. Rents, whilst increasing haven’t gone up nearly $1000 a month??? Something is wrong…Something has got to give here. Why aren’t we increasing the GST so everyone is targeted equally? So unnecessary spending attracts additional goods and services tax??? Why is it just the poor mortgage holder who is carrying the can here?? I don’t think the RBA gets it. People are hurting and every month Mr Lowe seems to revel in the announcement of more pain. The RBA needs to have “REAL PEOPLE” on their Board, not just rich people who aren’t even in economists. Jim Charmers needs truely investigate the RBA and get rid of these people and SLOW the month on month pain and additional stress people are under with threats of further increases.

You need to drop interest rates urgently please to ease peoples costs to service their mortgages. You have gone way to hard. It’s easy to stop an economy clearly but it will be slow and painful starting it up sgsin.

"Real-time" payment system Osko was taken down by a technical fault overnight (12 Oct) The Reserve Bank has taken responsibility for the outage Banks are scrambling to process a payment backlog