Good afternoon. Australian households have been slugged with a 13th interest rate rise since May 2022 after the Reserve Bank today hiked the cash rate 25 basis points to 4.35% – a 12-year high.
The rate rise will add roughly $100 to monthly repayments for a standard mortgage of about $600,000. For analysis on the RBA’s approach to battling inflation, read this from economist John Quiggin.
Top news
Pro-Palestine protest at Melbourne Cup | About 80 protesters disrupted entry to the Melbourne Cup today, reportedly chanting “ceasefire now”. Police pepper sprayed protesters before arresting four.
Netanyahu says Israel may have ‘security responsibility’ in Gaza | The Israeli prime minister thinks Israel “will, for an indefinite period … have the overall security responsibility” of Gaza after the war ends. In an interview with US media, he said Israel would consider “tactical little pauses” but again rejected calls for a ceasefire despite international pressure. In Jerusalem, Israelis held a vigil to mark 30 days since the Hamas attack. An international charity has warned that more than half a million people in northern Gaza face death by starvation as food supplies run “perilously” low. And South Africa is recalling its diplomats from Israel to assess its relationship with the country.
Two Sydney men arrested after deadly crash | The men, aged 23 and 27, were arrested following a car crash yesterday in Ashcroft, in Sydney’s south-west, that killed two teenage boys. The boys have yet be formally identified but police have confirmed they were aged 13 and 14.
Queensland calls for scrapping of stage-three tax cuts | The Queensland deputy premier, Steven Miles, has demanded that federal Labor explain why it is cutting infrastructure spending to fight inflation rather than revisiting controversial tax cuts for high income earners. Miles says it’s “too late” to cancel infrastructure projects and any effect on demand is likely to be years away.
Australia Post executive pay bump despite losses | Four senior executives at Australia Post secured pay increases of up to $482,000 last financial year, despite senior ministers urging the government-owned company to reflect on community expectations during a cost of living crisis. The pay increase also comes months after Australia Post revealed a $200m loss, its first since 2015.
SA police Tasering to be investigated | Two South Australian police officers are being investigated for criminal wrongdoing after they Tasered and used capsicum spray on a man aged in his 60s while arresting him at a care facility.
Ukrainian adviser killed with booby-trapped birthday present | Gennadiy Chastiakov (pictured), a close aide to the commander-in-chief of Ukraine’s army, was killed after a birthday present he was given exploded. Attacks targeting Ukrainian leaders have been relatively rare since Moscow invaded, but there have been several attacks on Russian nationalists, which Russia has blamed on Ukraine.
Biden trailing Trump | Joe Biden is facing calls not to seek re-election in 2024 as a shock poll shows him trailing Donald Trump in five of six key states the president won in 2020.
18th-century love letters to French sailors | A forgotten bundle of love letters sent to French sailors more than 260 years ago – but never before opened or read – has been discovered among British naval archives, revealing intimate details of 18th-century marital and family life. “I cannot wait to possess you,” wrote one naval wife.
Full Story
The legal minefield of exposing cheaters online
Facebook and other social media sites are awash with dedicated groups people can go to to find out about potential dates. But is it fraught with legal risk? Listen to this 21-minute episode.
What they said …
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“It was a lovely family and their life has gone … Pratibha was a lovely soul, dedicated volunteer, a good mother who was taking care of her beautiful girl.” – Daljeet Bakshi
Friends and communities mourn the five people killed when a car crashed into a Daylesford pub.
In numbers
Separately, at least 150 health workers have been killed in Gaza – 16 while on duty – and 18 emergency-service workers for Gaza’s civil defence, according to the UN.
Before bed read
The wellness world is awash with pills and potions promising to banish ‘bloat’. But do they work – and do we even need them in the first place? Here’s why bloating can be good for you – and when it’s time to worry.
Daily word game
Today’s starter word is: RUCK. You have five goes to get the longest word including the starter word. Play Wordiply.
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