Reserve Bank: At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points. Statement by Philip Lowe, Governor: Monetary Policy Decision Date 7 June 2022 At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points. Inflation in Australia has increased significantly. While inflation is lower than in most other advanced economies, it is higher than earlier expected. Global factors, including COVID-related disruptions to supply chains and the war in Ukraine, account for much of this increase in inflation. But domestic factors are playing a role too, with capacity constraints in some sectors and the tight labour market cont...
Centrelink Payments pittance Increase for pensioners, JobSeekers in a cost of living crisis
Pensioner struggling to buy food in Supermarket Photo by Gemini AI Centrelink Payments Are Increasing in 2025: What You Need to Know In a move to provide financial relief amid rising living costs, the Australian Government is increasing Centrelink payments through its regular indexation process . This will provide a welcome boost to millions of Australians, including pensioners , students , and job seekers . Payment Overview A number of key Centrelink payments are set to increase in 2025. These increases are part of the government's commitment to ensuring social security payments keep pace with the cost of living. The increases are being implemented in two stages: on March 20, 2025, and again on July 1, 2025. The payment increases are not a one-off "cash boost" but rather an ongoing adjustment to fortnightly payment rates. This aims to provide sustained support for those who rely on these payments to cover essential expenses. Who is Eligible? The payment increases will ...
