The Reserve Bank has left the cash rate unchanged at 4.35%, in a decision announced today.
The cash rate has now been held at 4.35% for the past four months.
In a statement released today, the RBA board says that inflation has moderated but is still high. It says the “outlook is highly uncertain”.
Scott Morrison, the former Prime Minister (2018-22), has delivered his valedictory speech to the House of Representatives.
Morrison will resign as the Liberal member for Cook later this week.
Jeremy Rockliff, the Liberal Premier of Tasmania, has announced that negotiations with two former Liberal MPs have broken down and he will call an early election tomorrow.
The Reserve Bank of Australia today made no change to the cash rate, leaving it at 4.35%.
The 4.35% rate has been in force since November 2023.
The bank’s decision is its first in a restructured process. As part of the new processes, the Governor of the Reserve Bank, Michele Bullock, held a press conference an hour after the bank’s decision was announced.
Watch Michele Bullock’s press conference (45m)
The coalition will support the Albanese government’s tax cuts, the Opposition Leader, Peter Dutton, confirmed today.
Flanked by the Shadow Treasurer, Angus Taylor, and the Shadow Finance Minister, Senator Jane Hume, Dutton said “the coalition is not going to stand in the way of people who are doing it tough”.
Greg Combet, a former minister in the Rudd-Gillard governments, has been appointed Chairman of the Future Fund.
Greg Combet, new Chairman of the Future Fund
This is the video of Governor-General David Hurley’s 2024 Australia Day Address.
The Address was shown on ABC television at 6.55pm on Australia Day.
Australia Day 1973 passed almost unnoticed, according to one radio news report, but Gough Whitlam used his 53rd day as prime minister to announce a search for a new national anthem.
Listen to a news report from radio 3DB in Melbourne on January 26, 1973, including a clip from Whitlam’s speech (1m)
Whitlam’s announcement of a replacement for God Save the Queen came in his Australia Day address. He said:
The former prime minister, Scott Morrison, has announced that he will retire from parliament at the end of February.
Morrison made the announcement in a statement posted on Facebook. He said he would “take on new challenges in the global corporate sector and spend more time with my family.”
The libertarian economist and newly-elected President of Argentina, Javier Milei, has delivered a strident defence of capitalism at the World Economic Forum in Davos, Switzerland.