![\"Patrick](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/08\/Patrick_Commins.png\")
Patrick Commins<\/p>\nKey events<\/p>\n
Show key events only<\/p>\n
Please turn on JavaScript to use this feature<\/p>\n
Patrick Commins<\/p>\n
What would a rate cut mean for mortgage holders? <\/p>\n
Economists and financial markets are once again convinced the RBA board will cut the official cash rate from 3.85% to 3.6%.<\/p>\n
If the RBA does cut rates for the third time this year, then homeowners with a variable mortgage should not be paying interest of more than 5.5%, said Sally Tindall, the data insights director at Canstar, an online comparison site. She said:<\/p>\n
In fact, if the majority of banks pass the cut on in full, which they should absolutely do, then there should be over 30 lenders offering at least one variable rate under 5.25%, while CBA and Westpac\u2019s lowest rates could hit 5.34%.<\/p>\n
Read more:<\/p>\n
Share<\/a><\/p>\n RBA rates decision coming tomorrow<\/p>\n Markets are almost certain the Reserve Bank of Australia will cut interest rates at its August meeting despite Australia facing an increasingly uncertain environment, AAP reports.<\/p>\n Benign quarterly inflation figures released by the Australian Bureau of Statistics in July should convince the board to cut the cash rate in a two-day meeting that starts today.<\/p>\n Mortgage holders will be hoping lighting doesn\u2019t strike twice after the central bank\u2019s board voted in a 6-3 decision to leave rates on hold in July, despite markets pricing in a near-certain chance of a cut.<\/p>\n A decision on rates is expected around 2.30pm AEST on Tuesday.<\/p>\n Photograph: Mark Baker\/APShare<\/a><\/p>\n Updated at\u00a018.24 EDT<\/p>\n Dave Sharma says calls to recognise Palestinian state only bolstering Hamas and making ceasefire harder<\/p>\n Liberal senator Dave Sharma, a former ambassador to Israel<\/a>, said growing calls to recognise a Palestinian state have had the \u201cunfortunate consequence\u201d of bolstering Hamas\u2019s strength. Sharma spoke to RN Breakfast after Netanyahu\u2019s overnight remarks, saying:<\/p>\n I think what has happened as a result of many nations making these moves towards recognition is it\u2019s strengthened Hamas\u2019s international position. It\u2019s made Hamas less likely to reach a ceasefire. It\u2019s made Hamas be able to portray itself as making political progress because of its military actions. And that is actually pushing back the resolution of this conflict, which I think has been a deeply unfortunate consequence.<\/p>\n Sharma went on to say the war had been \u201ctragic\u201d for both Israel and Gaza<\/a>, but noted Israel needed to do a \u201cbetter job in ensuring that humanitarian food and medical assistance reaches the civilian population of Gaza\u201d.<\/p>\n I do believe that has not been sufficient and there is significant food insecurity.<\/p>\n Liberal senator Dave Sharma. Photograph: Lukas Coch\/AAPShare<\/a><\/p>\n Former NZ PM Helen Clark says New Zealand and Australia starting to \u2018lag behind\u2019 on Gaza<\/p>\n Helen Clark, the former prime minister of New Zealand, said the recent statement from Australia and her own country condemning Israel\u2019s actions in Gaza do not go far enough.<\/p>\n Clark spoke to RN Breakfast, saying Australia and New Zealand were both starting to \u201clag behind\u201d other key partners when it came to the recognition of a Palestinian state. She said:<\/p>\n Look, Canada has condemned outright the latest Israeli security cabinet decision to reoccupy Gaza City, which is catastrophic, building on an already terrible situation. The most Australia and New Zealand have been able to stir themselves to do is to strongly reject the decision. \u2026<\/p>\n The time is now. Recognition of the state of Palestine sends a very strong message to Israel that its attempts to dodge away from a two-state solution are simply not acceptable.<\/p>\n Former New Zealand prime minister Helen Clark, seen in 2024. Photograph: Ben Mckay\/AAPShare<\/a><\/p>\n Updated at\u00a017.57 EDT<\/p>\n Australia strongly rejected Israel\u2019s plans to expand Gaza campaign last week<\/p>\n For context \u2013 this is Australia\u2019s position on Palestinian statehood. The foreign minister, Penny Wong, released a joint statement<\/a> on Saturday alongside her counterparts in eight countries and that of the EU.<\/p>\n We are united in our commitment to the implementation of a negotiated two-state solution as the only way to guarantee that both Israelis and Palestinians can live side by side in peace, security, and dignity.<\/p>\n A political resolution based on a negotiated two-state solution requires the total demilitarisation of Hamas and its complete exclusion from any form of governance in the Gaza Strip, where the Palestinian Authority must have a central role.<\/p>\n The signatories strongly rejected Israel\u2019s plans to occupy Gaza<\/a> City, saying the effort would only \u201caggravate the catastrophic humanitarian situation, endanger the lives of the hostages, and further risk the mass displacement of civilians\u201d.<\/p>\n Foreign minister Penny Wong. Photograph: Dominic Giannini\/AAPShare<\/a><\/p>\n Updated at\u00a017.39 EDT<\/p>\n Netanyahu says Australia would do the same in Gaza under similar circumstances, decrying debate over Palestinian state as \u2018shameful\u2019<\/p>\n Israel\u2019s prime minister Benjamin Netanyahu said Australia would take similar action If there were a catastrophe like Hamas\u2019 Oct. 7 attack \u201cright next to Melbourne or right next to Sydney\u201d, issuing a forceful defence of the country\u2019s plans to take military control of Gaza City. Netanyahu responded to questions about the upcoming efforts, which he described as a necessary step to end Israel\u2019s war with Hamas:<\/p>\n The real reason that this conflict persists is not because of the absence of a Palestinian state, but the persistent Palestinian refusal to recognise a Jewish state. \u2026 I think the solution to this problem is that the Palestinians should have all the powers to govern themselves in the places where they live, and none of the powers to threaten Israel.<\/p>\n Benjamin Netanyahu. Photograph: AFP\/Getty Images<\/p>\n Netanyahu went on to lambaste Australia and European countries considering the recognition of a Palestinian state amid growing disapproval over the humanitarian crisis in Gaza. The Israel<\/a> leader said other nations were \u201cfalling into a rabbit hole\u201d, saying debate around such recognition was \u201cshameful\u201d.<\/p>\n To have European countries and Australia march into that, march into that rabbit hole, just like that, fall right into it. This canard is disappointing, and I think it\u2019s actually shameful. But it\u2019s not going to take, it\u2019s not going to change our position.<\/p>\n He added:<\/p>\n I think we\u2019re actually applying force judiciously, and they know it. They know what they would do if right next to Melbourne or right next to Sydney you had this horrific attacks. I think you would do it, at least what we\u2019re doing, probably maybe not as efficiently and as precisely as we\u2019re doing it.<\/p>\n