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The Reserve Bank raises interest rates to 4.1 per cent | Evening News Bulletin 17 March 2026

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SBS News !7 March 2026 Source: AAP / Susie Dodds

The Reserve Bank raises interest rates to 4.1 per cent, Indigenous leaders are urging the government to support vital services in a remote Northern Territory town, The Asian Football Confederation says it's confident Iran will compete at this year's Men's FIFA World Cup.


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TRANSCRIPT

  • The Reserve Bank raises interest rates to 4.1 per cent
  • Indigenous leaders are urging the government to support vital services in a remote Northern Territory town
  • The Asian Football Confederation says it's confident Iran will compete at this year's Men's FIFA World Cup.

The Reserve Bank of Australia has raised interest rates for the second month in a row, as war in the Middle East compounds inflation concerns.

In a split five-four decision, the central bank's monetary policy board lifted the cash rate by 25 basis points to 4.1 per cent, following a hike of the same size in February.

The decision comes after headline inflation rose 3.8 per cent in the year to January, according to monthly data released by the Australian Bureau of Statistics, above the RBA's 2-3 per cent target band.

In addition, the conflict in the Middle East has resulted in sharply higher fuel prices, which, if sustained, are expected to add to inflation.

Indigenous leaders from remote community of Nhulunbuy in the Northern Territory have travelled to Canberra to ensure vital services remain in the area.

Australian supermarket chain Woolworths has indicated it is considering the store's viability in the town, as Rio Tinto's bauxite mine prepares to close before the end of the decade.

Yolngu leader, teacher and linguist Yalmay Marika-Yunupingu has told SBS, she's concerned the supermarket's closure will have a significant impact on day-to-day life.

She is urging the federal government to intervene and ensure the Woolworths store in Nhulunbuy remains.

"It will be a bad story for us we are all devastated, we need education, the kids need education, children need food, they need to eat first before going to school."

Afghanistan's Taliban government has accused Pakistan of killing hundreds of people in a strike at a drug treatment hospital in Kabul.

In a post on social media, Afghanistan's deputy government spokesman Hamdullah Fitrat says the death toll from the airstrike has increased to 400.

Mr Fitrat has says rescue teams are still working to control a fire at the building, and rescue and recovery efforts are ongoing.

Earlier, Pakistan's information ministry denied targeting the hospital or any civilian sites, saying it struck what it called "terrorist support infrastructure" in Kabul, and the eastern Afghan province of Nangarhar.

United States President Donald Trump has vowed to take control of Cuba, as the country grapples with a nation-wide blackout.

In recent weeks, President Trump has repeatedly said his administration is engaged in high-level talks with officials in Havana to pursue what he's descring as “a friendly takeover” of the country.

Asked by a reporter what this operation would look like, President Trump has reiterated his commitment to such a takeover, but said he can't provide details.

"But, but I think Cuba's seen the end. You know, all my life I've been hearing about the United States and Cuba. When will the United states do it? I do believe I'll be the honour of, having the honour of taking Cuba, that'd be a good honour. That's a big honour."

President Trump's claims come as officials in Cuba are reporting a blackout has left some 11 million people without power, amid a deepening energy crisis.

The country has been pushed toward economic collapse due to a US-imposed oil blockade, particularly the cutting of Venezuelan oil shipments to Cuba.

A wave of drones and rockets have been launched at the United States embassy in Iraq's capital, Baghdad.

Iraqi security sources have described the strikes as the most intense assault since the recent escalation in Middle East began, with at least five drones reportedly used.

Earlier, Iran's Foreign Minister Seyed Abbas Araghchi accused the United States and Israel of attempting to force the country into an unconditional surrender.

He said any end to the conflict must ensure Iran is protected against repeat attacks.

The Asian Football Confederation says it is confident Iran will compete at this year's Men's FIFA World Cup in North America.

The governing body says the the Iranian FA is yet to indicate if it plans to withdraw from the event.

That's despite Iran's sport minister's last week stating it was impossible for the players to participate in the tournament.

General secretary of the Asian Football Confederation, Windsor John, says it's the federation that should decide whether or not the team will play.

"We want them to play. They qualify, they always qualify first, Iran, one of the top teams. And we want them to play as well. So we hope that they will solve their issues, whatever it is, and be able to participate in the World Cup."


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