A shopkeeper was struck with a hammer but managed to trigger a fog cannon.

The family of a cruise ship passenger who died alone on a Great Barrier Reef island after being left behind has accused the operator of a "failure of care and common sense" and called for answers through a coronial inquiry.

Suzanne Rees, 80, was reported missing to authorities last Saturday night, when a check of the cruise ship the Coral Adventurer revealed she was missing.

She had been part of Coral Expedition's cruise to the exclusive resort destination Lizard Island, off the coast of Cooktown in Far North Queensland, earlier that day.

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Search and rescue crews, who had been scouring the land and sea for her, found her dead on the island the following day. 

Her daughter Katherine said the family had been left "shocked and saddened" by her much-loved mother's death.

"From the little we have been told, it seems that there was a failure of care and common sense," she said in a statement.

"We understand from the police that it was a very hot day, and mum felt ill on the hill climb.

"She was asked to head down, unescorted.

"Then the ship left, apparently without doing a passenger count.

"At some stage in that sequence, or shortly after, mum died, alone.

"She was a healthy, active 80-year-old who enjoyed gardening and was an active member of a bushwalking group.

"I hope that the coronial inquiry will find out what the company should have done that might have saved mum's life."

The Australian Maritime Safety Authority (AMSA) said in a statement it was investigating and would question the ship's crew when the ship docks in Darwin, scheduled for Sunday.

"AMSA will make an assessment as to whether there was any non-compliance associated with the passenger not being counted onto the ship and, if necessary, will take action to address them," a spokesperson said.

AMSA said it began searching with Queensland Police after the ship's captain reported the woman missing to authorities at 9pm last Saturday.

Coral Expeditions chief executive Mark Fifield offered his apology to the woman's family and said the company was working with authorities in their investigations.

"Coral Expeditions can confirm the tragic death of a passenger on the Coral Adventurer during an excursion to Lizard Island in Queensland," he said in a statement.

"While investigations into the incident are continuing, we are deeply sorry that this has occurred and are offering our full support to the woman's family.

"The Coral team have been in contact with the woman's family, and we will continue to offer support to them through this difficult process.

"We are working closely with Queensland Police and other authorities to support their investigation."

Queensland Police is investigating the death, but has ruled it non-suspicious.

A report is being prepared for the coroner.

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A Perth council has introduced a controversial cat law, with owners facing a household limit and a $300 fine, but some residents have raised concerns about the "overreach".

The City of Melville has outlawed cats from 64 reserves and parks that are home to important flora and fauna — like Tompkins Park, Goolugatup Heathcote Reserve, Alfred Cove Nature Reserve, and Centennial Park — from Saturday.

Owners whose cats are caught in the prohibited areas will be fined $300.

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There is now a two-cat limit per household, which does not apply to foster cats or cats registered with the city before the law commenced.

Residents can apply for approval to keep more than two cats under certain conditions, with the council taking into consideration whether it is an indoor or outdoor cat.

Pre-existing rules state that all felines must be sterilised, microchipped and registered at six months of age and must wear their collar with their registration tag when they are in a public place. 

The City of Melville sits on the shore of the Swan River, about 8km from the CBD, and captures more than 200 parks and reserves, 778 hectares of open public space and 295 hectares of bushland. 

The council has heard concerns about cats hunting, getting into fights and receiving injuries, harming and killing other animals, including native wildlife, and causing a nuisance to neighbours.

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Mayor Katy Mair hopes the new rules will protect native wildlife from the negative effects of outdoor cats and promote "responsible" ownership.

"The City of Melville recognises that cats are much-loved companions for many of our residents, enhancing their health and wellbeing," she said.

"I believe the law provides a good balance that takes into account our feline friends and their owners, alongside our responsibility as guardians to protect significant natural places and wildlife for future generations to enjoy."

The new rules come after two rounds of community consultation and feedback during public engagement of the city's cat management plan.

Almost half, or 45.7 per cent, of the 87 residents who provided submissions for the consultation opposed the cat law, but council insisted they only objected because they felt the changes needed to be tougher by imposing mandatory cat containment, a cat curfew or a requirement that keeps cats under control in public.

About 39.7 per cent supported the law, and 14.4 per cent neither supported nor opposed the law. 

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The council approved the cat law in July, noting that it does not have the power under previous legislation to implement tougher restrictions that the community was asking for, and the law came into effect on Saturday.

Some residents have raised concerns about the law, taking to social media to complain about the restrictions. 

"Disappointing to see you're limiting the number of pets someone can have, especially with so many wasting away in shelters," one person said.

"Why only two cats when you have a fully cat-proofed yard? That's ridiculous. It should not matter how many cats you have on your property," another said.

"Prejudiced towards cats. I've seen dogs attack birds too. But, let's blame cats," a third said.

"The overreach is getting out of control. Stay out of people's lives," a fourth said. 

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More than 2000 guns are stolen every year in Australia, averaging out to one every four hours, according to new research.

The Australia Institute, citing police data from every state and territory, also found that at least 9000 guns have been stolen in the country since 2020, and more than 44,000 since 2000.

The institute said previous research had shown there were now more than four million guns in Australia – more than there were before the Port Arthur massacre that prompted the Howard government's nationwide firearm law reform.

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"Thousands of guns are flowing into the hands of criminals every year, putting Australians in danger," Australia Institute research director Rod Campbell said.

"Theft of legal guns is the main source of illegal guns in Australia, not 3D printing or illegal imports. It's pretty simple – the more legal guns there are in Australia, the more illegal guns there will be."

After a recent major national gun seizure operation by police and federal police around the country, police said 3D-printed or otherwise home-made guns were looming larger as a source of illegal weapons.

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However, they said, while they were becoming a more significant element of organised crime and the sovereign citizen movement, 3D-printed guns were also being found in the homes of licensed firearm users and tech enthusiasts.

A step forward

Campbell said state and federal governments had been "complacent" on the issue.

"This research shows that gun control and keeping the community safe requires ongoing efforts from all levels of government," he said.

"Australians might be shocked to discover that the Howard-era National Firearms Agreement has still not been completed."

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He suggested an immediate step state governments could take, one with Australian precedent.

"If we don't want to go down the path of America, all states and territories can follow Western Australia's lead of capping the number of guns any one person can own," Campbell said.

"There's a clear path forward for governments to act."

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A Zoom call has captured a police officer without his pants as he identified himself for a virtual hearing.

The scenario happened earlier this week during a hearing in Detroit's 36th District Court, where a woman faced a charge of drag racing.

District Court Judge Sean Perkins was seen at his bench. The defendant, her attorney and Officer Matthew Jackson from the Detroit Police Department's 12th Precinct were all participating virtually via Zoom.

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The defendant had just agreed to accept the plea offer on her case on drag racing and disorderly conduct, with other charges to be dismissed. And then Judge Perkins called upon the officer.

"Officer Jackson? Good morning to you. Can you put your appearance on the record, please?" Perkins asked.

In response, Jackson held up his hand and gave his name. The camera on the computer he had logged onto showed a view of him wearing a uniform shirt and badge.

That initial view of Jackson also showed his bare legs, without his uniform pants.

The defense attorney, whom one of the next camera views showed, was seen with a puzzled look on her face.

The camera view went back to the judge, who appears to have noticed the camera monitor at his desk.

"You got some pants on, officer?" the judge asked in response.

Jackson repositioned his camera closer to his face and began to say, "Sir, they're in the …" Then he broke off that sentence and said, "No, sir."

The judge then quickly pivoted the discussion towards the defendant, calling her name and continuing the proceedings.

The dress code for the 36th District Court says casual business attire is preferred.

The dress code prohibits wearing shorts, cutoffs, skorts "and other clothing which is not suitable in a court or any other professional environment" for a hearing.

In the aftermath of the uniform view — and subsequent attention to the video — Detroit Police Chief Todd Bettison issued a statement.

"The Detroit Police Department requires its officers to represent themselves in a dignified and professional manner while attending court proceedings," he said.

"The involved officer's actions are not representative of the professionalism of this department and will be appropriately addressed to maintain the public confidence and efficient operation of this department.

"Our apologies are hereby extended to the judges and staff of the court, as well as anyone else who may have been in attendance during this incident."

As for the hearing, the defendant's charge was amended from reckless driving. She pleaded guilty and was fined $US240 upon the conclusion of the hearing, court records show.

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Canva co-founders Melanie Perkins and Cliff Obrecht remain at the top of the Australian Financial Review's Young Rich List for the sixth year running, and it doesn't look like their crown is going to be threatened any time soon.

The AFR's 2025 list, which ranks the wealthiest Australians under the age of 40, put the couple's estimated net worth at $18.5 billion.

Second on the list was Ed Craven, co-founder of online cryptocurrency casino site stake.com with an estimated $4.6 billion.

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To put that in perspective, the AFR estimates Perkins and Obrecht grew their fortune by $4.5 billion in just the past year.

Robbie and James Ferguson of cryptocurrency and blockchain company Immutable are in third with a combined net worth of $1.7 billion, followed by businessman Adrian Portelli with $1.4 billion.

Combined, the fortunes of the top 10 hit $31.7 billion, up 9.7 per cent from $28.9 billion in 2024.

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Outside the top 10, other familiar names appear.

Margot Robbie remains Australia's richest entertainer under 40, listed at 36 with an estimated fortune of $193 million.

Basketball star Ben Simmons (20th) is Australia's richest young sports star, worth a tidy $260 million.

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Retired F1 driver Daniel Ricciardo (35th with $194 million), golfers Cameron Smith (41st with $176 million) and Jason Day (42nd with $167 billion), and F1 driver Oscar Piastri (56th with $122 million) also appear.

Piastri is one of 22 debutants on this year's list, a group collectively worth about $4 billion and which also includes The Block judge Marty Fox.

To qualify for the Young Rich List in 2025, people needed a fortune of at least $44 million, up from $38 million in 2024.

The tech sector's dominance continued, contributing more than $28 billion, or 62 per cent, of the total net worth of the list in 2025.

"It's been another record-breaking year for the wealthiest Australians aged 40 and under, whose collective fortunes have risen 1700 per cent in the 22 years since the first Young Rich List was published by BRW," Rich List editor Yolanda Redrup said.

"When the list launched in 2003, the total net worth of the 62 people featured was only $2.5 billion."

The full list will be available on the AFR website tomorrow.

The Financial Review Young Rich List 2025's top 10

1. Melanie Perkins and Cliff Obrecht, 38 and 39, $18.5 billion – Canva
2. Ed Craven, 30, $4.6 billion – Stake.com
3. Robbie and James Ferguson, 33 and 28, $1.7 billion – Immutable
4. Adrian Portelli, 36, $1.4 billion – LMCT+
5. Jack Zhang, 40, $1.3 billion – Airwallex
6. Nick Molnar, 35, $1.1 billion – Block
7. Andrew Tulloch, 35, $953 million – Thinking Machine Labs, Meta
8. Paul Stovell, 39, $637 million – Octopus Deploy
9. Jessica Sepel and Dean Steingold, 36 and 40, $486 million – JSHealth
10. Nik Mirkovic and Alex Tomic, 30 and 32, $470 million each – Hismile

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Nvidia has become the first $US5 trillion ($7.6 trillion) company, just three months after the Silicon Valley chipmaker was the first to break through the $US4 trillion barrier.

It has hit the incredible benchmark off the back of an artificial intelligence craze that’s widely viewed as the biggest tectonic shift in technology since Apple unveiled the first iPhone 18 years ago.

Apple rode the iPhone’s success to become the first publicly traded company to be valued at $US1 trillion, $US2 trillion and eventually $US3 trillion.

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But there are concerns of a possible AI bubble, with officials at the Bank of England earlier this month flagging the growing risk that tech stock prices pumped up by the AI boom could burst. The head of the International Monetary Fund has raised a similar alarm.

The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday (Thursday AEDT), the shares closed at $US207.04 with 24.3 billion shares outstanding, putting its market cap at $US5.03 trillion.

Nvidia's value is now greater than the GDP of India, Japan and the United Kingdom, according to the International Monetary Fund.

Nvidia carved out an early lead in tailoring its chipsets known as graphics processing units, or GPUs, from use in powering video games to helping to train powerful AI systems, such as the technology behind ChatGPT and image generators.

Demand skyrocketed as more people began using AI chatbots. Tech companies scrambled for more chips to build and run them.

Nvidia Chief Executive Jensen Huang has downplayed concerns of a bubble bursting. He said the generative AI chatbots that were merely “interesting” when they first took hold a few years ago were now becoming so useful they would become profitable.

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Huang was headed to South Korea this week as leaders from major Pacific Rim economies, including the United States, China and Japan, gathered for the annual Asia-Pacific Economic Co-operation summit that has long championed free trade but is now confronting sweeping US tariffs on technology and other products.

The multilateral gathering in Gyeongju is expected to be overshadowed by a sideline event — a face-to-face meeting between Trump and Chinese leader Xi Jinping — as their intensifying trade war leaves the South Korean hosts in a difficult balancing act.

This week, Huang disclosed $US500 billion in chip orders. The company also announced a partnership with Uber on robotaxis and a $US1 billion investment in Nokia, with the two planning to work together on 6G technology.

In addition, Nvidia is teaming with the US Department of Energy to build seven new AI supercomputers.

Last month, Nvidia announced it would invest $US100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centres to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.

In August, Huang said Nvidia was discussing a potential new computer chip designed for China with the Trump administration. Trump said on Air Force One that he would speak to Xi about Nvidia's chips on the sidelines of the APEC event that Huang is also attending.

In August, Trump announced a deal with chipmakers Nvidia and AMD to lift export controls on sales of advanced chips to China in exchange for a 15 per cent cut of the revenue, despite concerns from national security experts that such chips would end up in the hands of Chinese military and intelligence services.

That same month, Trump announced the US government had taken a 10 per cent stake in Intel worth around $US11 billion.

Then, Nvidia announced last month it was investing $US5 billion in Intel and would collaborate with the struggling semiconductor company.

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A typical new retiree could lose out on as much as $136,000 over the course of their retirement due to the bewildering complexity of Australia's superannuation system, according to a new report.

The staggering figure—equivalent to $6,500 a year—was highlighted in modelling released today by the Super Members Council, which found the system's "daunting complexity" is stopping everyday Australians from achieving their full financial potential in their post-work years.

Australia is on the cusp of a "silver tsunami," with 2.8 million Australians racing towards retirement in the coming decade. This influx will effectively double the number of Australians retiring each year, jumping from 150,000 to 300,000.

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The amount of money in super held by these retirees will almost double, too, soaring from around $750 billion over the past decade to almost $1.5 trillion over the next.

In its report, the Super Members points to the current complexity and rigidity of the system as a significant barrier to a simple, seamless transition into retirement for many.

One critical finding reveals that about 700,000 Australians over 65 who aren't working full-time still have their super sitting in taxed savings-phase super accounts, which drastically lowers their disposable income in retirement.

The report calls for a series of urgent, short-term reforms to prepare the super system, including the need to:

• Expand access to simple, affordable financial advice and digital tools.

• Enable safe and effective data sharing with Government to allow funds to optimise incomes and offer retirement income dashboards.

• Support Smart Retirement Pathways and suggest the best retirement income solution for members.

• Fix issues that lead to dual super accounts for retirees.

For the longer term, the council proposes bolder directions, such as simplifying a transition to tax-free income—including considering automatically removing tax from accounts at age 65 for eligible members—and rethinking minimum drawdown requirements for poorer retirees. It also recommends strengthening consumer protection by applying a quality filter on all retirement products.

Dispelling a "persistent myth" that most retirees underspend their super, the report actually shows that drawdowns are typically higher than the minimums required. In 2024–25, approximately 64 per cent of tax-free retirement account holders (two in every three retirees) withdrew above the minimum. This proportion was even higher for those with less than $50,000 in super, at 77 per cent.

"We need to make the shift into retirement so much simpler, easier and more intuitive for everyday Australians," Super Members Council CEO Misha Schubert said. 

"This challenge is now incredibly urgent as almost 3 million Australians start to race towards retirement in the coming years."

"Moving to a system of simpler, smarter pathways into retirement would mean every Australian could retire with confidence, knowing they're not missing out on money to pay the bills and enjoy life to the fullest."

The report's findings echo a report by the Grattan Institute, released in January, which found the complexity in Australia's superannuation system was leaving retirees stressed and lacking the confidence to spend their super savings.

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Hurricane Melissa is now headed for the Bahamas to continue its path of destruction, as reports of rising death tolls in Jamaica and Haiti emerge.

The centre of Melissa is expected to cross the Bahamas mid-morning AEDT as a Category 2 storm, well down from its historic high as a Category 5.

But residents are still being told to brace for destruction, with the US National Hurricane Centre's latest advisory reporting top sustained winds of about 160km/hr.

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The US State Department has established a task force to manage the US response to the hurricane, with Secretary of State Marco Rubio confirming he had been in contact with regional leaders – though not mentioning Cuba.

"We have rescue and response teams heading to affected areas along with critical lifesaving supplies," Rubio said in a post on X.

"Our prayers are with the people of the Caribbean."

Flooding from Hurricane Melissa has killed 25 people in Haiti while the storm still churned across Cuba after leaving Jamaica with widespread damage and power outages, officials say.

Jean Bertrand Subrème, mayor of the southern Haitian coastal town of Petit-Goâve, told The Associated Press 25 people died after La Digue river burst its banks and flooded nearby homes. Dozens of homes collapsed and people were still trapped under rubble as of Wednesday morning (early Thursday AEDT), he said.

"I am overwhelmed by the situation," he said as he pleaded with the government to help rescue victims.

Only one official from Haiti's Civil Protection Agency was in the area, with residents struggling to evacuate amid heavy floodwaters unleashed by Hurricane Melissa in recent days.

In Jamaica, more than 25,000 people were packed into shelters on Wednesday, hours after Melissa made landfall as a catastrophic Category 5 storm with top winds of 295km/h, one of the strongest Atlantic hurricanes on record.

A government source told CNN four bodies had been recovered in Jamaica's St Elizabeth Parish, which was hit hard in the storm.

People kept streaming into the shelters throughout the day after the storm ripped off the roofs of their homes and left them temporarily homeless.

https://x.com/AndrewHolnessJM/status/1983616601464434863

"The conditions here are devastating, catastrophic is a mild term based on what we are observing here," Black River Mayor Richard Solomon said in a video posted by the Jamaica Constabulary Force.

Black River is a coastal town in south-west Jamaica. The western side of the island borne the brunt of the Category 5 hurricane, government officials said previously.

"The hospital is totally devastated," Solomon said.

"When I say we are immobile, police units are down, all the units at the EOC (Emergency Operations Centre) are down because they would have been covered with water throughout the hurricane.

"So at this point in time we're unable to do any rescuing. We're unable to respond. So we are trying to let everybody know that the situation here is devastating. We need all the help that we can and conditions are going to deteriorate as the day progresses because persons are feeling it already," he added.

Police Superintendent Coleridge Minto, commanding officer for the St Elizabeth Division of the Jamaica Constabulary Force, said the small food and water supplies available had been given to nurses and doctors.

Solomon added that a storage container with relief supplies was "totally wiped out." He and Minto called for aid from the prime minister and global organisations.

"It's not going to be an easy road, Jamaica," said Desmond McKenzie, deputy chairman of Jamaica's Disaster Risk Management Council.

"I know persons … are wondering what their future are going to be like."

Dana Morris Dixon, Jamaica's education minister, said that 77 per cent of the island was without power on Wednesday but the water systems were not greatly affected.

At least one death was earlier reported in the island nation's west when a tree fell on a baby, state minister Abka Fitz-Henley told local radio station Nationwide News Network.

Cuba still riding out the storm

Officials reported collapsed houses, blocked mountain roads and roofs blown off in Cuba on Wednesday, with the most destruction concentrated in the south-west and north-west. Authorities said about 735,000 people remained in shelters in eastern Cuba.

"That was hell. All night long, it was terrible," said Reinaldo Charon in Santiago de Cuba. The 52-year-old was one of the few people venturing out on Wednesday, covered by a plastic sheet in the intermittent rain.

Parts of Granma province, especially the municipal capital, Jiguaní, were underwater, said Governor Yanetsy Terry Gutiérrez. More than 40 centimetres of rain was reported in Jiguaní's settlement of Charco Redondo.

Melissa had top sustained winds of 155km/h, a Category 2 storm, and was moving north-east at 22 km/h, according to the US National Hurricane Centre in Miami. The hurricane was centred about 242 kilometres south of the central Bahamas.

Melissa was forecast to continue weakening as it crossed Cuba but remain strong as it moves across the south-eastern or central Bahamas later on Wednesday. It was expected to make its way late on Thursday near or to the west of Bermuda. Haiti and the Turks and Caicos also braced for its effects.

The storm was expected to generate a surge of up to four metres in the region and drop up to 51 centimetres of rain in parts of eastern Cuba. Intense rain could cause life-threatening flooding with numerous landslides, US forecasters said.

The hurricane could worsen Cuba's severe economic crisis, which already has led to prolonged power blackouts, as well as fuel and food shortages.

"There will be a lot of work to do. We know there will be a lot of damage," Cuban President Miguel Díaz-Canel said in a televised address, and urged the population not to underestimate the power of Melissa, "the strongest ever to hit national territory."

Jamaica rushes to assess the damage

Jamaican officials reported complications in analysing the damage, while the National Hurricane Centre said the local government had lifted the tropical storm warning.

"There's a total communication blackout on that side," Richard Thompson, acting director general of Jamaica's Office of Disaster Preparedness and Emergency Management, told the Nationwide News Network. More than half a million customers were without power late on Tuesday.

Prime Minister Andrew Holness is flying over the most affected areas, where crews were still trying to access areas and determine the extent of the damage, Dixon said.

Extensive damage was reported in parts of Clarendon in the south and in the south-western parish of St Elizabeth, which was "underwater" said McKenzie.

The Disaster Risk Management Council deputy chairman said the storm damaged four hospitals and left one without power, forcing officials to evacuate 75 patients.

Santa Cruz town in St Elizabeth parish was devastated. A landslide blocked main roads. Streets were reduced to mud pits. Residents swept water from homes as they tried to salvage belongings. Winds ripped off part of the roof at St Elizabeth Technical High School, a designated public shelter.

"I never see anything like this before in all my years living here," resident Jennifer Small said.

"The entire hillside came down last night," said another resident, Robert James.

The government said it hopes to reopen all of Jamaica's airports as early as Thursday to ensure quick distribution of emergency relief supplies.

The US government said it was deploying a disaster response team and search and rescue personnel to the region. And the State Department said non-emergency personnel and family members of US government employees were authorised to leave Jamaica because of the storm's impact.

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Australians struggling under the weight of high mortgage repayments now won't receive any more relief from the RBA, according to one of the nation's biggest banks.

The Reserve Bank has handed down three rate cuts this year, and most economists had been predicting another one or two were still to come by midway through 2026.

Indeed, just a fortnight ago, the market had been pricing in a more than 80 per cent chance of a cut next week.

READ MORE: Rate cut hopes dashed after inflation data comes in hot

But yesterday's scorching inflation data, with the CPI rising by 1.3 per cent in the September quarter, while the trimmed mean – the RBA's preferred measure of underlying inflation – rose by an even 1.0 per cent.

Michele Bullock said on Monday that even a 0.9 per cent result on the latter measure would be a "material miss", and economists have been quick to push back their forecasts in the wake of yesterday's data.

Westpac, which had previously been an outlier as the only member of the big four to be banking on a rate cut next week, scrapped that prediction yesterday, saying even February may be too soon for the RBA to reduce the cash rate again.

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"Even a February cut is far from certain now, given the size of the upside surprise this quarter," chief economist Luci Ellis said. 

"We are conducting a full reassessment for the cash rate outlook in light of both the inflation outcome and the evolving picture on domestic demand."

The more alarming new forecast, though, came from Commonwealth Bank, which now believes the RBA is finished cutting and will leave the cash rate at 3.60 per cent for the foreseeable future.

"Given the material upside surprise to the Q3 25 CPI, and the broad‑based nature of pricing pressures, we now expect the RBA to remain on hold from here," senior economist Belinda Allen said. 

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"Previously, we expected one last rate cut in February 2026 to bring the cash rate back closer to neutral.

"Higher inflation and the cyclical upswing in demand now underway, driven largely by consumption and housing, will see the RBA conclude that the economy needs the cash rate to remain in slightly restrictive territory."

The nation's biggest lender even cautioned that the Reserve Bank may be forced to raise interest rates next year.

"The latest data has tilted the risks to the upside, and the RBA will be closely watching the monthly inflation data," Allen said.

"If inflation remains elevated in 2026 as we expect it could, the RBA may need to act."

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Ellis, though, had a silver lining for borrowers sweating on another rate cut, saying there could be more relief than expected next year because the chance of a pre-Christmas rate cut has been ended.

"Delay now adds to the chances of more cuts next year," the Westpac chief economist wrote.

"Over 2026, though, we expect the RBA to be surprised by the gradual softening in the labour market, and the resulting benign wages growth… easing in conditions should fade in 2027 assuming private sector demand growth does pick up as we are currently forecasting," she added. 

"By that point, though, inflation could be below the target midpoint, which would point to scope for less restrictive monetary policy."

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The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.