The Reserve Bank of Australia (RBA) has decided to keep the official cash rate steady at 4.35% as the economy shows signs of slowing and unemployment rates increase. This widely anticipated decision offers little relief to mortgage holders, who have been under pressure from three consecutive rate hikes earlier this year.
RBA Decision and Economic Context
In a statement accompanying the decision, the RBA board indicated that its earlier predictions are proving accurate, noting that higher fuel prices have begun to push up the costs of various goods and services. Treasurer Jim Chalmers welcomed the decision, stating: "We're pleased with developments in the Middle East but we're realistic about how long it will take for the global economy to normalise and what that means for us."
Top News Highlights
- Two arrested during investigation into Dezi Freeman's movements as police reveal killer likely travelled to NSW.
- Grill'd burger chain sued by ACCC over alleged greenwashing.
- Sydney records warmest run of June days in more than a century.
- Most Australians under 25 have never used newspapers or radio as a source of news, survey finds.
- Birthkeeper hired by woman who died after freebirth tells inquest she was 'not there to make a birth safer'.
- Paedophile teacher William 'Rob' Gilfillan sentenced for sexual offences against two Victorian schoolgirls in the 1980s.
World Cup 2026 Updates
In World Cup action, Belgium and Egypt battled to a 1-1 draw, as did Saudi Arabia and Uruguay. Iran came from behind twice to claim a 2-2 draw with New Zealand. Upcoming matches include France vs. Senegal at 5am AEST and Iraq vs. Norway at 8am AEST. FIFA's disciplinary committee cleared World Cup video assistant referee Shaun Evans after the Australian was accused of making a hand gesture associated with white supremacists.
In Pictures
Political cartoonist Fiona Katauskas comments: "It seems refugees can help us achieve our goals."
What They Said
"Something is changing," said climate scientist Prof Andy Pitman, as Sydney temperatures topped 20C on Tuesday for the 10th consecutive day, breaking a June record from 1919.
Podcast
A decade after British MP Jo Cox was killed by a far-right extremist, her sister Kim Leadbeater, who now holds her parliamentary seat, discusses lessons still to be learned in the podcast "How the murder of my sister, Jo Cox, changed Britain."
Before Bed Read
Dutch children are unusually happy and healthy, possibly due to Avondvierdaagse, a four-day evening walking festival where kids, parents, and teachers explore neighbourhoods, exercise, and make friends. This tradition appears genuinely transformative.
Daily Word Game
Today's starter word is: INTO. Players have five goes to get the longest word including the starter word. Play Wordiply.
