TRANSCRIPT
- The Reserve Bank holds interest rates steady in its first meeting of 2024...
- The federal opposition says they will support tax cuts to help struggling families...
- And in cricket, Australia is bowling first against the West Indies in the third match of their one-day series.
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The Reserve Bank of Australia has kept interest rates on hold after its first two-day meeting in 2024 but warns that inflation is still higher than desired.
The board members decided to leave the cash rate steady at 4.35 per cent, in a widely expected move that is likely to be welcomed by borrowers in financial difficulty.
Economists generally expected no change in the official interest rate following a series of promising data, including weaker-than-expected inflation, muted spending figures and signs of a softening jobs market.
Even so, the council led by Governor Michele Bullock, said that there is still a chance that further interest rate increases will be needed to adjust inflation.
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Opposition leader Peter Dutton says the coalition have decided to support the amended stage-three tax cut measures announced by the federal government.
Under the tax changes, people earning under $150,000 will receive a greater tax cut, while those earning above that amount will still receive benefits, but less than previously forecast under the original stage three proposal.
The Coalition has consistently condemned the government for breaking its election promise to leave the cuts untouched.
But Mr Dutton says he wouldn't get in the way of helping struggling families.
"The coalition is not going to stand in the way of providing support to Australians who are doing it tough. Prime Minister's made this change for his own political survival we're supporting this change not to support the Prime Minister's lie but to support those families who need help now."
Mr Dutton has also confirmed the coalition will present its own tax reform policy before the next federal election.
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Russia has accused President Joe Biden of carrying out attacks in Iraq and Syria to improve his image ahead of the presidential election campaign.
The US airstrikes killed at least 16 people, including civilians, and injured 25, and were justified as retaliation for an attack that killed three US soldiers in Jordan.
Washington blames Iranian-backed militias for the attack.
Russia's ambassador to the UN, Vassily Nebenzia, at a Security Council meeting on the attacks, which was requested by Moscow, said that there was no justification for the US action.
"We see in these 'flex their muscles' attempts, first of all, a desire to influence the domestic political landscape in America, a desire to somehow correct the disastrous image of the current American administration on the international arena as the presidential election campaign is heating up."
US voters will go to the polls in November to elect a president for the next four years.
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Farmers have gathered on the lawns of Parliament to protest against renewable energy.
The National Rational Energy Network organized the rally to coincide with the first sitting day of the year, protesting against what organizers say is the Australian government's "reckless deployment of renewable energy".
More than 1,000 new renewable energy projects are currently in the Rewiring the Nation pipeline of the government's Department of Climate Change, Energy, Environment and Water.
The protesters also dispute the fact that almost all of these projects would be located in Regional Australia.
Greens leader Adam Bandt says the demonstrators and the government should focus on calling for a halt to the opening of more coal and gas mines.
"If we want to protect our environment, the single biggest threat to it is the climate crisis. And the best way to protect our environment is to stop opening new coal and gas mine. So I say to all of those people who are revving up the rallies against renewables if you really care about the environment, stop opening new coal and gas projects."
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In cricket,
Australia is bowling first at Manuka Oval as they seek to wrap up a clean sweep of their three-game one-day series against the West Indies.
Stand-in captain Steve Smith won the toss and chose to have his side chase in Canberra, where they are looking to extend their 11-game one-day international winning streak.
Xavier Bartlett returns after being rested after taking 4-17 on his ODI debut in the series opener, with fellow quick Lance Morris also back in the side.
West Indies have gone in without opening bat Justin Greaves, who is struggling with a hamstring complaint.
