Senator Jane Hume says the RBA will work harder to reduce inflation after federal Labor’s budget; doctors to make ‘a business decision’ whether to bulk bill, says health minister Mark Butler. Follow updates here.
The head of the US Army insists tanks and armoured vehicles remain indispensable for modern-day battlefields, amid criticism of the Albanese government for cutting the number of next-generation troop carriers following a top-level military review.
“What do I mean by that? If you are going to conduct offensive combat operations, if you want to seize and hold land, the way to do that is with combined arms. Amid rising tensions with China, General McConville was visiting Canberra for meetings with senior defence personnel, including the Chief of the Australian Army, Lieutenant-General Simon Stuart.
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RBA and government’s prediction of inflation dropping are ‘pretty realistic’Labor MP Andrew Charlton says the government and Reserve Bank’s forecast of inflation lowering in the coming years is “pretty realistic”. “The government is forecasting inflation to go down from about six per cent to a little over three per cent next year and then down to 2.75 per cent the following year,” Mr Charlton told Sky News host Sharri Markson. “People should know that that is almost exactly in line with the independent Reserve Bank’s forecast. “This is a pretty steady trajectory over two years to get back to where inflation was a couple of years ago.”
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‘Stimulatory’ budget could trigger another RBA rate riseEconomists have questioned the government’s decision to add $21 billion to the economy at a time when it is running hot, warning the RBA may need to respond.
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RBA research puts Australian recession risk at up to 80 per cent by 2024Previously unpublished internal research from the Reserve Bank estimates that Australia's risk of recession over this year and next could be as high as 80 per cent.
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Recession chance as high as 80pc: RBA researchInternal documents show the RBA has considered the possibility of a 4.8 per cent cash rate and staff research finds a high probability of recession.
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US Senator Dianne Feinstein returns to duty after months-long absence – as it happenedSenator says she is returning to work in Washington DC on ‘a lighter schedule’ due to her ongoing health issues as she recovers from shingles
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