In this bulletin;
- The Reserve Bank holds interest rates steady despite expected cuts;
- NT Police acknowledge institutional racism and pledge to reform;
- And in rugby league, New South Wales carry an experience advantage into the State of Origin decider tomorrow.
The Reserve Bank has kept interest rates on hold in a move that will disappoint borrowers hoping for further mortgage relief.
The surprise decision went against expectations of most traders and economists, who were leaning towards a 25 basis point cash rate cut to reflect the under-control inflation and sluggish retail spending.
The RBA board says maintaining price stability and full employment is their priority and they want to ensure inflation rates have stabilised in a sustainable fashion before more cuts.
Treasurer Jim Chalmers says, while it's not the decision millions of Australians were hoping for, he trusts independent decisions made by the board.
He praises Australia's ability to make progress on inflation without the consequences of a deteriorating economy or high unemployment rates.
"Under the life of this government, we've got inflation down. We've got real wages growing. Unemployment is low. Our economy has continued to tick over. Interest rates have come down twice in five months, but we know the job's not finished because people are still under pressure and the global environment is so uncertain."
—
Northern Territory Police have acknowledged systemic racism within their organisation and have promised to stamp out bigotry and reform policies.
It comes after the end of the three year coronial inquiry into the fatal police shooting of 19-year-old First Nations man Kumanjayi Walker.
Coroner Elizabeth Armitage's report found Mr Walker's death was avoidable, and that the state's police force failed to protect the public through poor supervision and management of constable Zachary Rolfe's use of force.
In her statement she says she also found that "Mr Rolfe was racist and that he worked in and was the beneficiary of an organisation with hallmarks of institutional racism."
NT Police Deputy Commissioner Martin Dole says they have acknowledged the coroner's 18 recommendations to police and will act to meaningfully reform the organisation.
"We also acknowledge the coroners findings that all forms of racism have existed within the Northern Territory police force at various times. That is confronting but it is a truth that we must face. What was tolerated in the past will no longer be acceptable. We are committed to stamping out racism. That includes seriously re-examining how we return to a meaningful version of community policing, one that reflects the needs and expectations of Aboriginal people and builds trust at a local level."
—
Prime Minister Anthony Albanese has responded to the latest twist in United States President Donald Trump's tariff roll-out, saying Australia will not stop pushing for an exemption.
Shares on Wall Street have fallen after President Trump sent letters to 14 countries, including allies Japan and South Korea, unveiling sharply higher tariffs on imports into the United States, while postponing their implementation to August 1.
Australian goods to the US have already been subjected to the country's baseline 10 per cent tariffs, the minimum rate imposed on all US trading partners.
Mr Albanese says he's not expecting a higher tariff rate as Australia hasn't proposed counter-tariffs on US goods.
"No, because we're not increasing tariffs. Australia has a tariff rate of 10 per cent. No country has a better deal than Australia. Now, we'll continue to put our case that tariffs are an act of economic self-harm and we should be entitled to reciprocal tariffs that are zero. But the U-S administration has a view and no country has secured an exemption."
—
In rugby league,
New South Wales will carry an advantage into the State of Origin decider, with Penrith's five-year NRL dynasty helping prepare the Blues for rugby league's grandest stage.
New South Wales will enter tomorrow night's decider at Sydney's Accor Stadium as firm favourites, despite Queensland's game-two win in Perth keeping the series alive.
Origin deciders are considered the second biggest game of each NRL season behind the grand final and it is in that department where the Blues have their biggest advantage.
Their players have featured in 64 grand finals and Origin deciders between them with 45 wins, while the Maroons have 46 of those games between them for 26 wins.
