Tag Archives: oceania

RBA keeps interest rates on hold as experts warn peak is yet to come

The Reserve Bank of Australia (RBA) has kept the nation's interest rates on hold, but experts have warned borrowers not to breathe a sigh of relief yet.

Today the newly appointed RBA Governor Michele Bullock, along with the RBA board, said the nation's official cash rate target would be kept on hold at 4.10 per cent.

October's pause marks the fourth month in a row in which the RBA has kept the cash rate steady, with the central bank again citing the need to see more data before changing the nation's cash rate.

READ MORE: Dire forecast for mortgage holders as hopes interest rates to soon fall dashed

In her maiden monetary statement Bullock said the RBA was closely watching the rate of inflation in Australia, and that more rate hikes may be required.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risks," she said.

"In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labour market.

"The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome."

Graham Cooke, head of consumer research at Finder, said many experts do not believe that we have seen the peak of the RBA's rate-hiking cycle.

"A fourth consecutive rate hold from the RBA will be welcome news to mortgage holders, many of whom are struggling with higher repayments," he said.

"While homeowners have been given a break, stubborn inflation means we could still see another rate hike before Christmas."

The most recent CPI monthly data showed a modest rise to 5.2 per cent, however the board noted that much of this increase was driven by volatile items such as fuel and produce costs.

READ MORE: Lowe hits out at 'vitriol and clickbait' in final speech

Bilgehan Karabay, Associate Professor of Economics at RMIT University, said today's pause does not mean Australians currently suffering with living costs are in the clear.

"The tight rental market means rental prices will continue to put pressure on inflation," Karabay said.

"In addition, house prices seem to have plateaued, which is due to two effects that offset each other – on the one hand, high interest rates decrease loan applications and curb demand, on the other, high construction costs limit housing supply.

"Markets see the possibility of another rate hike in the US until the end of this year. In addition, rates will stay higher for longer.

"Other economies, including Australia, also face the same risk. The Australian dollar recently depreciated against the US dollar, which could create further inflationary pressures through our imports."

Meet the 80-year-old self-taught snake catcher who got into the job by accident

An 80-year-old woman is catching snakes for people in Victoria after living with the reptiles for 12 years.

Lorna King was a wildlife rescuer for 30 years and became a self-taught snake catcher by accident when someone rang her for help and she thought she could help.

She became familiar with snakes when she moved to a home in Townsville in Queensland.

LIVE UPDATES: Emergency warnings for bushfires in two states

Victorian snake catcher Lorna King.

"We had snakes in the house always, little pythons and things get up in the beams," King told Melbourne radio station 3AW.

"Our house was high set and I'd be out putting washing on the line under the house and there'd always be eyes looking at me.

"I got used to them because I knew they weren't dangerous.

"The fact that I'm not afraid to touch them is what enables me to catch them."

This experience came in handy when she rescued a black snake from an elderly man's home behind a cabinet along the wall recently.

"I guarantee you, it was about eight-foot long, he was huge," the registered catcher said.

King has caught snakes from Omeo to Sale in Victoria but this remains her most memorable job.

"Poor old man left the door open for his dogs to come in," King said.

"As he was walking down the passageway saw this massive snake coming into house.

READ MORE: Name change for food giant behind Aussie popular cereals

"The poor old darling, he couldn't go back into his house for three days after the snake."

Despite her close encounters with the snake, she has never been attacked by one.

"A lot of people ask me that and they look at me as if I'm lying," she told the radio hosts.

"I would be too frightened to do it again if I'd been bitten."

Unlike many other snake catchers, King doesn't document her call-outs on social media.

"When I can get someone to get a bit of footage for me or take a photo, it's wonderful," she said.

"I very rarely get to do it myself."

https://omny.fm/shows/3aw-breakfast-with-ross-and-john/the-80-year-old-still-working-as-a-snake-catcher/embed?style=Cover

'No Voice, no choice': NRL grand final hero backs Yes vote

NRL grand final man of the match Nathan Cleary has thrown his support behind a Voice to parliament.

Shortly after the Penrith Panthers beat the Broncos in a thrilling comeback win, Indigenous leader Roy Ah-See posted a video to social media.

"No Voice, no choice. Come on Australia, vote Yes," Cleary says in the short clip, wearing a shirt reading: "we support the Uluru Statement".

READ MORE: Four kids, two adults killed in NT outback fiery crash

Penrith Panthers star Nathan Cleary has declared his support for a Voice to parliament.

The TikTok was reposted to X (formerly known as Twitter) by Prime Minister Anthony Albanese tonight.

Cleary sent the video to Ah-See on Sunday, after the activist gave a presentation at his club three weeks earlier.

"Nathan asked after the presentation in front of the whole playing group and the Panthers staff, what he could do to highlight the issue," Ah-See told the Sydney Morning Herald and The Age.

READ MORE: Voice to parliament referendum: When, how and where do I vote?

Nathan Cleary accepts the Clive Churchill Medal after winning the 2023 NRL grand final with Penrith.

"He said, 'I'll do anything.' He said he wanted to live in a better country which was inclusive for everyone, and he felt strong about it."

The Clive Churchill Medal winner joins other high profile sports identities, including Cathy Freeman, in throwing their support behind the Voice just weeks out from the referendum.

https://twitter.com/AlboMP/status/1708689029884236160

The referendum will be held on Saturday, October 14, when polling places will be open from 8am to 6pm. 

Early voting has already begun in some states and territories.

'Everything we've ever had': Home lost in bushfire

When grandfather Rob Saunders woke up on Sunday morning, he knew something wasn't right.

As bushfires burnt in Victoria's Gippsland region, the Briagolong resident started to smell smoke just after 7am.

"I wasn't too sure where the smoke was coming from, but then I walked out the door and the whole side of the bush was on fire," Saunders said.

READ MORE: Four kids, two adults killed in NT outback fiery crash

Victorian resident Rob Saunders had just returned home from holidays in Thailand a week ago.

He ran back inside, called triple zero and woke his wife up.

The pair, who had just returned from a holiday in Thailand a week ago, faced losing their home of nine years.

"I had time to grab the cat, the dog and the clothes I'm wearing," he said.

The pair left and by 10.30am, Saunders said his phone had notified him the power had gone out at home.

"I thought, 'That's not good'," he said.

An hour later, Rob Saunders came up to survey the damage with his daughter Lily Saunders. Victoria fires

By 5.30pm, he received the bad news his home had been hit by the fire.

An hour later, he came up to survey the damage with his daughter Lily Saunders.

"I walked up the hill, didn't want to drive up the driveway and that's when we saw the bungalow was still standing," Rob said.

"We went around the corner and just … devastation.

"The rest of it is gone. Everything we've ever had."

Victorian resident Rob Saunders at his Briagolong home.

The off-grid mudbrick home was a haven for the family, where many memories were made.

"This place is everything, this is our home, this is our getaway, our chill place," Lily said.

Saunders is urging Australians to be prepared this bushfire season and make a bushfire plan.

"Be alert, have your fire plan ready and if you've no time just get out," he said.

"I think if I'd slept in for another hour, I wouldn't be here now, I wouldn't have been able to get out.

"It was unbelievable how intense the wind was and how quickly the fire spread."

Country Fire Authority vehicles en-route to Gippsland on Sunday.

The Briagolong blaze that swallowed their home has devoured more than 5000 hectares.

Fire crews are battling to contain a 42-kilometre perimeter.

Yesterday emergency services were battling wind gusts of more than 90km.

The outbreak at Rawson is still burning, while a grassfire at Loch Sport is expected to fizzle to the sea.

However, a change is on the way, which is expected to bring new challenges for emergency services, particularly the risk of flooding across the state.

Bureau of Meteorology senior meteorologist Christie Johnson said the fires in Gippsland were likely to see between 30mm to 50mm of rainfall combined with strong winds.

Efforts to tackle the Loch Sport fire, which is burning at advice level, are continuing today.

Victoria State Emergency Service operations officer Tim Wiebusch said the rain posed the risk of minor to moderate or "potentially even major flooding", and was putting crews on alert.

"Fire agencies actively working on that ahead of what is tipped to be challenging conditions for tomorrow," Country Fire Authority chief officer Jason Heffernan said.

Since Saturday firefighters have tackled 220 bush and grassfires across the state.

Campers were told to end their long weekends early as firefighters worked in the state's high country.

"We've gone out and evacuated some campers, moved them on from the camping grounds," Rawson incident controller Jonathan Wood said on Sunday.

Bushfires can be fast-moving, for the latest information visit the Vic Emergency website here.

Grandmother seriously injured after driver allegedly deliberately drove into her

A 65-year-old grandmother has been left seriously injured after she was allegedly deliberately driven into in a carpark in Melbourne's inner suburbs.

Minnie Votsis was driving her Holden Captiva in a carpark on Epsom Road in Ascot Vale last week when a man driving a white Hyundai Getz allegedly crashed into her car.

After both drivers got out of their cars to share details, the male driver refused to hand over his licence, Votsis' son Davod told 9News.

READ MORE: Pair arrested after allegedly ramming police during pursuit across Melbourne

The man allegedly then got back into his car and reversed into Votsis before fleeing the scene.

"When she turned around she tried to call the police, he sort of, got hit back in his car and (allegedly) hit her," Davod Votsis said.

"It's horrible.

"The fact that he was able to do it and, and just drive away from it just terrifies us all."

Police have been told its believed he deliberately reversed into her.

The incident unfolded in front of dozens of shoppers, including Rezz Kimies.

"She dropped to the floor, it was very bad," he said.

READ MORE: Victorian Premier Jacinta Allan unveils new-look cabinet

Votsis was rushed to hospital, where she remained for a week, unable to recall what happened.

Witnesses told police the driver fled the scene before allegedly running a red light.

Police are investigating the alleged incident and believe the male driver of the Hyundai Getz had false registration plates.