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...
Tensions Rise as Police Move to Block Pro-Palestine March at Sydney Opera House
Sydney Opera House As the world approaches the second anniversary of the October 7, 2023, attacks in Israel and the ensuing war in Gaza , Sydney is once again at the center of heated debate over protest rights and public safety. A planned pro-Palestinian march to the iconic Sydney Opera House has sparked controversy, with New South Wales (NSW) Police rushing to intervene through legal channels. The Planned Protest and Its Significance Organized by the Palestine Action Group , the march—dubbed a " March for Humanity "—is set to take place just days after October 7, 2025 , marking two years since the Hamas-led attacks that killed over 1,200 people in Israel and triggered a devastating conflict in Gaza, resulting in tens of thousands of Palestinian deaths. Protesters aim to call on the Australian government , led by Prime Minister Anthony Albanese , to impose sanctions on Israel and highlight ongoing humanitarian concerns in the region. The event is expected to draw up to ...
