Sao Yean had nothing to do with ‘bad drugs’ that led to a death. He paid with his life.

The first of the big four banks has passed on the Reserve Bank of Australia's shock interest rate hike as mortgage holders brace for sky-high loan repayments.

The central bank made the surprise decision against most market forecasts on Tuesday to raise the cash rate by 25 basis points from 3.6 per cent to 3.85 per cent in a bid to battle surging inflation.

Now the big banks are beginning to follow suit with NAB the first cab off the rank passing on the cash rate in full to customers.

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The bank announced its standard variable home loan interest rate will increase by 0.25 per cent from May 12.

Savers will benefit from the rate rise with the NAB Reward Saver bonus interest rate rising by 0.25 per cent to 4.5 per cent per annum and the NAB iSaver introductory and standard variable rates increasing to 4.5 per cent and 1.85 per cent respectively.

NAB Group Executive Personal Banking Rachel Slade said the central bank's decision to pause the relentless rate rises in April gave some "breathing room" to Australians.

"With the cash rate increasing again, there may be some customers who are concerned about their financial position, and we are here to help," Slade added.

Bringing the cash rate to 3.85 per cent is the 11th rate rise in 12 months and adds another $96 to the average monthly repayment on a $600,000.

Since the start of May 2022 – when interest rates were just 0.1 per cent – monthly repayments have increased by $1351.

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RBA Governor Philip Lowe said the surprise choice to raise interest rates after the April pause is because the cost of living and inflation, in particular, is still "too high".

"Inflation in Australia has passed its peak, but at 7 per cent is still too high and it will be some time yet before it is back in the target range," he said.

The target range for the central bank is 2 to 3 per cent.

"Given the importance of returning inflation to target within a reasonable timeframe, the Board judged that a further increase in interest rates was warranted," Lowe said.

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Lowe warned future rate rises are also likely given the struggle to push inflation in a downward direction.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon how the economy and inflation evolve," Lowe said.

Treasurer Jim Chalmers said the decision to hike rates will come as a cruel blow to thousands of Aussie households.

"This is a really difficult position for a lot of Australians who are already under the pump," he said.

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The vibe from Sir Howard’s era can still be felt in the new centre.

Two figures in black were caught on camera dousing a luxury sports car in accelerant before it burst into flames on a Sydney street.

Police are still trying to find the two people "totally destroying" a bright blue 2022 Lamborghini Huracan in Olympic Park, which was captured in security footage released today.

The ball of flames lit up the night, with the explosion so loud it woke residents who raced out to find the car – worth up to $410,000 – ablaze in the early hours of the morning on Tuesday.

READ MORE: Two police officers stabbed, person shot dead during 'high-risk' incident

NSW Police have appealed to the public for more information, with officers investigating if the fire was linked to an underworld revenge attack.

A BMW i8 parked in front of the Lamborghini was also damaged.

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"This car is totally destroyed, basically melting into the road," Superintendent Adam Dewberry said yesterday.

No one was injured.

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Court allows four vehicles owned by late drug dealer to be sold.

Victorian Premier Daniel Andrews has slammed the Reserve Bank of Australia (RBA) over its decision to raise rates 11 times within a year.

The central bank yesterday lifted the official cash rate target by 25 basis points from 3.6 per cent to 3.85 per cent.

Andrews said while the decision was made to combat rising inflation, it instead was "smashing" families across the state.

READ MORE: Two SA police officers stabbed, person shot dead during 'high-risk' incident

It comes as the state government prepares to hand down its "challenging budget" later this month.

"They are pulling this lever and I don't know that it's necessarily effective against the problem they are trying to solve," Andrews said.

"I'm certain they are creating lots of other problems.

"Many, many families are under enormous pressure.

"The problem with these tools is you don't know that you've gone too far until you have gone too far."

The premier said state governments were told during a 2020 national cabinet meeting they should "go and borrow" to avoid a 25 per cent unemployment rate.

He said his government was told "interest rates won't be going up" and wouldn't have borrowed as much as it did at the time if told differently.

"I'm not sure that 11 interest rate rises in 12 months is smashing inflation," Andrews said.

"I'm certain it's smashing families.

"So again, I don't know that pulling this lever is necessarily delivering the outcome that the bank wants, and that's to get inflation under control."

READ MORE: 'Damaging' winds to batter NSW and Victoria

RBA Governor Philip Lowe said yesterday the cost of living in Australia was "still too high".

"Inflation in Australia has passed its peak, but at 7 per cent is still too high and it will be some time yet before it is back in the target range," he said in his monetary statement.

"Given the importance of returning inflation to target within a reasonable timeframe, the Board judged that a further increase in interest rates was warranted."

Lowe said it would take "a couple of years" for inflation to hit the RBA's target range of 2 to 3 per cent.

Currently, the annual rate of inflation in Australia is 7 per cent.

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Incoming Qantas chief executive Vanessa Hudson is stepping into a job with a public profile like few others, but also with looming challenges.

Hudson, a 28-year company veteran, will become the first female CEO in the airline's 103-year history when she succeeds Alan Joyce in November. 

Few jobs in corporate Australia can rival that of Qantas boss for scrutiny by customers, commentators and politicians.

READ MORE: Qantas announces new CEO to take over from Alan Joyce

Many Aussies have a strong emotional attachment to the business, regarding it as the national airline, and reinforced by Qantas advertising that pulls the heartstrings.

Business expert and economist Tim Harcourt told 9news.com.au there is "no bigger brand" in Australia than Qantas, and its boss occupies a rarified place in the public consciousness.

"It's one of the country's biggest jobs in the eyes of Australians," he said.

"First there is prime minister, then captain of the national cricket team, followed by Qantas CEO, in the eyes of the public."

Harcourt, professor and chief economist at the Institute for Public Policy and Governance (IPPG) at the University of Technology Sydney, said the appointment of Hudson this week by Qantas Chairman Richard Goyder signalled a big shift for the carrier.

During Joyce's 15 years in charge, he oversaw healthy dividends for shareholders.

After three years of statutory losses due to the pandemic, Qantas in February returned to profit, posting an underlying pre-tax half-year result of $1.43 billion for the six months through December.

But they often came at the cost of deep job cuts in the business, which Joyce was determined to push through.

In 2011 he showed he was prepared to play hardball when he famously grounded the Qantas fleet and locked out workers during collective bargaining with unions.

READ MORE: What's wrong with that wing?' Alarm over patched up Qantas plane

Now, with the appointment of Hudson, the days of the high-profile chief executive at Qantas seem over.

"She is not well-known and has worked in the backroom at Qantas," Hudson said.

"But her challenge will be going from the backroom to the front office."

And Hudson can expect some headwinds in the years ahead.

The biggest challenge will be finding an estimated $12.3 billion between the 2024 and 2028 financial years to pay for new Qantas aircraft.

Last year Simple Flying reported the average age of a plane in Qantas' fleet is 15 years -the highest of any major international airline in Australia.

In comparison, the average age of an aircraft for competitors such as Emirates and Cathay Pacific is about 10 years.

READ MORE: Alan Joyce 'in tears' over 'tough calls' that helped Qantas survive

Hudson, who most recently was Qantas' chief financial officer, said she would be able to balance the looming fleet renewal with expectations from the airline's shareholders.

But investment expert Jun Bei Liu, of Tribeca Investment Partners, warned Qantas will have to contend with turbulent business conditions.

"Going forward, the next 12 months, is going to be very challenging because we have more competition coming in, we have the Asian airlines returning (to Australia) we're and heading into a slowing consumer environment," she told Today this week.

"It is going to be a very challenging period where you have to spend a lot of money."

Hudson has also placed repairing the trust of Qantas customers and its workforce as a priority.

On Tuesday, after the announcement of her CEO appointment, Hudson said she was looking forward to meeting trade union leaders and developing a "constructive relationship" with them.

In 2021, the federal court ruled that Qantas had illegally outsourced about 1700 ground staff workers during the pandemic.

The airline then started a High Court appeal to avoid paying compensation over the move.

Michael Kaine, the national secretary of the Transport Workers Union (TWU), said the appointment of Hudson was an "opportunity" to reset workplace relations at the airline.

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A "friendly and happy" Queensland firefighter who died after battling a warehouse blaze has been remembered for her kindness.

The Queensland Fire and Emergency Services community is reeling after the death of Izabella Nash in hospital overnight.

"She was always the first person to step in and guide new firefighters whether it be on or off the job," QFES Acting Commissioner Mike Wassing said this morning.

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https://twitter.com/QldFES/status/1653499245222301696

Nash was one of two firefighters taken to hospital as crews battled to control a fire at Slacks Creek, south of Brisbane early yesterday morning.

"Her mates are remembering her as a friendly, happy crew member," Wassing said.

Nash's partner is also a firefighter.

The service is working with her loved ones to help organise a funeral.

Wassing said her colleagues, friends and family are hurting and will miss her greatly.

"Our hearts break for them and we will continue to be there with them and for them in weeks and months ahead," he said.

Assistant Commissioner to the Brisbane region John Cawcutt said Nash's professionalism was outstanding and her death is devastating to her colleagues.

"She is one of those people who would walk into a station and people would be attracted to her both from her knowledge and generosity of spirit," he said.

"She was a very good member of the firefighting team."

Cawcutt said Nash was initially in the military before joining QFES and had a family history of uniform services after her father was a member of the police force.

"She was very strong and she was always the first person out to check over equipment," he said.

He added Nash was the type of person who always had a "good smile about her" and could dish out jokes as well as she could take them.

Nash's crew is "very broken up" after her death as she was a close colleague and friend.

An investigation will be carried out as to whether her breathing apparatus failed.

It's believed she may have lost oxygen on site causing her to become unconscious.

Wassing dismissed these allegations saying there is no information at this stage that there were safety issues with the safety apparatus however all aspects of the operation will undergo a full assessment.

Nash had served as part of the QFES since 2014 as a first-class firefighter.

QFES minister Mark Ryan said today is a sad day for Queensland and the fire and rescue service.

"For us to honour Izzy is the least we can do for the sacrifice she made on behalf of all of us," he said.

"Our state will always remember the service of Izzy.

"A true Queenslander, a hero and forever always ready."

Ryan said the government will talk with friends, family and colleagues about how to honour Nash like lighting up landmarks.

He said "everything is on the table" to honour Nash.

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The second firefighter, Lia Drew, remains in hospital in a serious but stable condition.

Wassing said Drew has been moved from the critical care unit to the burns unit for treatment of serious injuries to her arms and hands.

"We are also supporting her and her family," he said.

The investigation into the cause of the fire is underway.

Wassing said the fire service wants answers as to what happened in the fire and the operation for Nash, Drew, their families and colleagues.

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The government has issued a warning to Australians travelling overseas to be respectful of different cultures and laws after a spate of incidents and deportations.

Tourists were told to research local laws and obey them as the Australian government is "limited in how and when we can help" in a Smartraveller warning posted yesterday.

"We can't get you out of trouble, out of jail, or pay your legal bills or fines," the notice said.

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It comes as Queensland man Bodhi Risby-Jones faces jail and caning after being accused of an alleged drunken rampage in Indonesia ending in attacking a fisherman.

A plethora of incidents involving Australians acting badly in Bali have occurred this year with six people deported so far.

"Australians love to travel, with millions of Aussies heading overseas every year. Travelling is often about letting your hair down and relaxing," Smartraveller said.

"But don't leave your manners and common sense at home when you get on the plane."

Smarttraveller urged Aussies not to "dismiss or mock local practices" because they're unfamiliar to them.

The authority also urged Aussies to be respectful when visiting local temples and cultural sites – which often hold deep cultural significance – and to follow the lead of locals.

Some foreign travellers have been caught out by being disrespectful at cultural sites overseas including an influencer who was arrested for posting a naked photo at a sacred tree in Bali two weeks ago.

A Russian tourist was deported from Bali after posting a semi-naked photo on top of a sacred mountain last month.

Expectations around behaviour and clothing can also vary widely around the globe so Australians are told to take note before heading overseas.

"Make an effort to adjust what you do accordingly. Remember that you're a guest in someone else's home, and badly behaving guests can be asked to leave," Smartraveller said.

"Many countries will cancel your visa if your behaviour is considered offensive or disruptive to the locals."

READ MORE: Boxing star charged after airport arrest

"Don't expect to be treated differently by local authorities because you're Australian."

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Tasmania's new AFL team has come up against a roadblock in naming itself thanks to a major entertainment company.

The new team wants to be called the Tasmanian Devils, paying homage to one of the state's most iconic animals, but Warner Brothers has the exclusive rights to the words on account of the famous Looney Tunes character.

Foreign Affairs Minister Penny Wong said she was "shocked" to realise the American company has the rights to the name.

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"I think like most Australians would think that Tasmania devil was something that we could use," Wong told 2GB's Ben Fordham.

"They would be pretty surprised an American company has the rights to it."

https://omny.fm/shows/ben-fordham-full-show/i-m-shocked-penny-wong-on-usa-trademark-over-tassi/embed

Tasmania was officially been granted a licence for its AFL team, as well as an AFLW side, at an announcement in Hobart this afternoon.

Outgoing AFL CEO Gillon McLachlan said league's aim is to have the new side entering both the men's and women's competitions in 2028.

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