![\"Luca](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Luca_Ittimani.png\")
Luca Ittimani<\/p>\nRBA leaves cash rate target on hold at 3.6%Luca Ittimani<\/p>\n
The Reserve Bank has left its key interest rate on hold, as widely expected by economists. The official cash rate remains 3.6%.<\/p>\n
Markets had predicted there would be no change, with traders betting the RBA would next hand down a rate hike by August 2026.<\/p>\n
We\u2019ll bring you more from the interest rate-setting board\u2019s statement in just a moment.<\/p>\n
Updated at\u00a022.35 EST<\/p>\n Key events<\/p>\n Show key events only<\/p>\n Please turn on JavaScript to use this feature<\/p>\n Parliamentary review of Iran\u2019s Islamic Revolutionary Guard Corps listing as state sponsor of terrorism<\/p>\n Parliament\u2019s powerful Joint Committee on Intelligence and Security has announced the start of a review on the listing of the Islamic Revolutionary Guard Corps [IRGC] as a state sponsor of terrorism.<\/p>\n Under Australian law, listings are made through changes to the Criminal Code.<\/p>\n The move follows revelations from security agencies that the Iranian government allegedly used third parties to order a fire bombing attack on the Adass Israel Synagogue in Melbourne, along with an arson on Lewis\u2019 Continental Kitchen in Sydney.<\/p>\n Listing activates criminal offences for directing, financing, recruiting and supporting state sponsors of terrorism, with penalties of up to 25 years\u2019 imprisonment.<\/p>\n \u201cThis is the first organisation listed as a state sponsor of terrorism under laws recently passed by the Australian Parliament,\u201d the PJCIS chair, Raff Ciccone said.<\/p>\n \u201cThe committee\u2019s review will give the Australian community an opportunity to have their say on the listing of the IRGC and ensure that appropriate processes have been followed\u201d.<\/p>\n Public submissions are open until 23 January next year.<\/p>\n Share<\/a>Bullock says further interest rate cuts are not \u2018on the horizon\u2019 The RBA governor, Michele Bullock, has essentially ruled out further mortgage relief, saying further cuts are not \u201con the horizon\u201d.<\/p>\n Speaking at a press conference in Sydney, Bullock said \u201cgiven what\u2019s happening with underlying momentum in the economy \u2026 it does look like additional cuts are not needed\u201d.<\/p>\n \u201cI don\u2019t think there are interest rate cuts on the horizon for the foreseeable future.\u201d<\/p>\n The RBA board did not consider the case for a rate hike at today\u2019s meeting, she said. But members did \u201cdiscuss quite a lot\u201d what might lead them to lift the cash rate next year.<\/p>\n \u201cWe did consider and discuss quite a lot what were the circumstances and what might need to happen if we were to decide that interest rates had to rise at some time next year,\u201d she said.<\/p>\n Michele Bullock in September. Photograph: Dean Lewins\/AAPShare<\/a><\/p>\n Updated at\u00a023.50 EST<\/p>\n RBA governor says rate decisions will be made \u2018meeting by meeting\u2019<\/p>\n Asked if it was plausible that a the board could decide on a rate hike in February, Bullock says the board will monitor whether inflation is persistent:<\/p>\n If inflation continues to be persistent and looks like it is not coming back down towards the target, then I think that does raise questions about how tight financial conditions are and the board might have to consider whether or not it\u2019s appropriate to keep interest rates where they are or in fact at some point raise them.<\/p>\n I wouldn\u2019t put a timing on that. It\u2019s going to be a meeting by meeting decision.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.42 EST<\/p>\n Bullock: there was no cut on the table<\/p>\n The Reserve Bank governor, Michele Bullock, is speaking to reporters at a press conference in Sydney.<\/p>\n Speaking about the RBA\u2019s decision to leave interest rates on hold at 3.6%, Bullock says the board did not consider the case for a rate cut:<\/p>\n There was no cut on the table and no one suggested that there be a cut.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.39 EST<\/p>\n Opposition claims RBA cash rate decision \u2018tragic news\u2019 ahead of Christmas<\/p>\n The shadow treasurer, Ted O\u2019Brien, says the Reserve Bank of Australia\u2019s decision to hold the cash rate is \u201ctragic news for households\u201d ahead of Christmas:<\/p>\n The government promised Australians the opposite of what they are delivering. Everybody is being held back, everybody is being left behind. The opposite of what Labor has promised.<\/p>\n O\u2019Brien says Jim Chalmers has failed to \u201cstop his spending spree and he has failed to start growing the economic pie\u201d. He says there are \u201ctoo many\u201d young Australians who cannot afford to buy a home:<\/p>\n Every time they try to look at that online mortgage calculator, the numbers just do not add up. Today\u2019s decision will continue to see it very difficult to add up. In fact, next year it will be even more expensive for young Australians who want to enter the property market.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.31 EST<\/p>\n Jim Chalmers says \u201cmillions of Australians would have preferred more rate relief\u201d, after the Reserve Bank held its cash rate at 3.6%.<\/p>\n The treasurer in a statement noted that a rate cut wasn\u2019t on the cards – a recent jump in inflation made sure of that.<\/p>\n No surprise that Chalmers is focusing on the positives: mortgage holders have had three rate cuts this year, he said, and inflation at 3.8% is a lot lower than the 7.8% post-pandemic peak at the end of 2022:<\/p>\n While inflation has ticked up recently, this is partly due to temporary factors and it\u2019s something we\u2019ve seen in many parts of the world.<\/p>\n The outlook for rates remains distinctly darker.<\/p>\n The RBA board\u2019s statement suggested members are more worried about inflation than they were at their last meeting six weeks ago.<\/p>\n The central bank\u2019s language gives little hope for a fourth rate cut, although it is well short of endorsing the judgement in financial markets that a rate hike is inevitable in 2026.<\/p>\n \u201cWe know there is still more work to do and people are still under pressure, which is why we\u2019re continuing to roll out responsible cost of living relief including tax cuts for every taxpayer, slashing student debt, cheaper medicines and more bulk billing,\u201d Chalmers said.<\/p>\n Share<\/a> Inflation pick-up may not be one-off, RBA warns<\/p>\n The Reserve Bank has warned of signs of a broad rise in inflation, after previously claiming rapid price rises were likely to remain temporary.<\/p>\n Consumer prices have risen faster than expected in recent months, in part due to one-off jumps in air fares, jewellery and childcare and medical costs<\/a>.<\/p>\n But the RBA\u2019s monetary policy board said price hikes could spread and there was now more of a risk of inflation rising than falling. The RBA statement read:<\/p>\n The data do suggest some signs of a more broadly based pick-up in inflation, part of which may be persistent and will bear close monitoring.<\/p>\n Recovering spending from households and businesses could become part of the unanticipated problem, the bank warned:<\/p>\n The pick-up in momentum has been stronger than anticipated, particularly in the private sector. If this continues, it is likely to add to capacity pressures.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.15 EST<\/p>\n That\u2019s all from me. Adeshola Ore will take things from here, before Luca Ittimani brings the blog home this evening. Take care.<\/p>\n Share<\/a> NSW RFS issues leave now warning for residents near Capertee national park<\/p>\n Residents near New South Wales\u2019 Capertee national park have been told to leave now as an out-of-control bushfire burns nearby.<\/p>\n The RFS issued the emergency warning a short time ago, advising residents in the area of Home Hills Road near Bogee that they were in danger. The agency said:<\/p>\n If you are between Marsden Road and Capertree River on Home Hills Road, you are at risk.<\/p>\n Leave now in a northerly direction along Home Hills Road and Glen Alice Road towards Rylstone.<\/p>\n Emergency Warning: Home Hills Rd Fire, Bogee (Lithgow LGA) \u2014 NSW RFS (@NSWRFS) December 9, 2025<\/a><\/p>\n Share<\/a> Queensland parliament to sit for just 14 weeks next year<\/p>\n Queensland\u2019s parliament will sit for just 14 weeks \u2013 46 days \u2013 next year, under the new LNP government.<\/p>\n It\u2019s the briefest parliamentary schedule since the pandemic, except 2024, which had fewer sitting days due to the election that year.<\/p>\n Parliament sat for as long as 49 days during Labor\u2019s last term, but typically about 46.<\/p>\n There are also more days of estimates hearings under the LNP, which means fewer days debating and passing bills. There will be just 33 ordinary sitting days, with parliament wrapping up in November.<\/p>\n Parliamentary sitting days are particularly significant in Queensland because the state does not have an upper house to review government decisions and as a result its committee system is more partisan than other states. That makes question time one of the few opportunities to keep governments accountable; there will be just 37 next year.<\/p>\n The Labor opposition often criticises the government for lacking a legislative agenda. The brief sitting year will do nothing to quieten the allegation.<\/p>\n Queensland parliament will sit for 46 days in 2026. Photograph: Jono Searle\/AAPShare<\/a><\/p>\n Updated at\u00a022.55 EST<\/p>\n RBA leaves cash rate target on hold at 3.6% The Reserve Bank has left its key interest rate on hold, as widely expected by economists. The official cash rate remains 3.6%.<\/p>\n Markets had predicted there would be no change, with traders betting the RBA would next hand down a rate hike by August 2026.<\/p>\n We\u2019ll bring you more from the interest rate-setting board\u2019s statement in just a moment.<\/p>\n The RBA has kept the official cash rate on hold at 3.6%. Photograph: Mark Baker\/APShare<\/a><\/p>\n Updated at\u00a022.35 EST<\/p>\n 95% of participating staff vote for no confidence motion against UTS vice-chancellor<\/p>\n 95% of staff at the University of Technology Sydney (UTS) who participated in a recent motion voted to declare no confidence in vice-chancellor Andrew Parfitt.<\/p>\n The National Tertiary Education Union (NTEU) said today more than 1,500 UTS staff participated in the vote, which came after controversial plans to slash hundreds of jobs and suspend enrolments in more than 120 courses.<\/p>\n Dr Sarah Attfield, the UTS branch president for the NTEU, said in a statement the \u201cpowerful response from staff confirms what we have already known and felt deeply for many months now \u2013 the vice-chancellor\u2019s plans are not aligned with a public institution, and staff have little faith in his leadership\u201d. She went on:<\/p>\n Staff are exhausted, demoralised, and fearful. We have seen our colleagues pushed to the brink, courses slashed, and the student experience threatened \u2013 all while the VC and his executive ignore the people who keep this university running.<\/p>\n Today\u2019s results send a clear message to the public and UTS Council: the vice-chancellor has lost the mandate to lead.<\/p>\n The UTS campus. Photograph: Graham Jepson\/AlamyShare<\/a><\/p>\n Updated at\u00a022.22 EST<\/p>\n Tasmania Fire Service issues watch and act warning for St Helens<\/p>\n Tasmania Fire Service just issued a watch and act warning for a bushfire in Diana\u2019s Basin near the town of St Helens on the state\u2019s north-east coast.<\/p>\n Officials said the fire is heading towards Diana\u2019s Basin and is expected to impact the area beginning at 2pm.<\/p>\n The fire is expected to be difficult to control, and embers, smoke and ash may fall on the region and surrounding areas, which could threaten individuals or property before the main fire.<\/p>\n Officials said:<\/p>\n Smoke and ash may make it difficult to see and breathe.<\/p>\n Take action now to protect yourself, your family, and your home. If you have made a bushfire plan, check it now.<\/p>\n Decide early if you are going to leave, and make sure you have a clear path to a safer place.\u2028<\/p>\n Share<\/a><\/p>\n Updated at\u00a022.07 EST<\/p>\n Peak welfare groups say report highlights failures across employment system<\/p>\n Australia\u2019s peak welfare groups have responded to the ombudsman\u2019s report on jobseekers<\/a>, highlighting the failures across Australia\u2019s employment system.<\/p>\n The Acoss CEO, Dr Cassandra Goldie, said:<\/p>\n This report demonstrates widespread harmful action against low-income people and complete lack of oversight of private providers, alongside the thousands of illegal payment cancellations already identified.<\/p>\n In a system that hands employment service providers $1.2bn a year, the lack of robust independent oversight is unacceptable.<\/p>\n Antipoverty Centre spokesperson and jobseeker recipient Jay Coonan called for the immediate pause of suspensions:<\/p>\n Payment suspensions cause immeasurable damage to our lives, destabilising people when we are already struggling to survive. This scandal must end, not when the government decides what tweaks it would like to make to this system, but now.<\/p>\n And the executive director, Kasy Chambers, said the report shows that for-profit employment service providers and the compliance system are hurting the people who rely on them:<\/p>\n The Ombudsman has found that providers are making incorrect decisions, keeping poor records, and giving people unclear or misleading information about their payments.<\/p>\n These failures are leading to unfair suspensions and penalties for people on the lowest incomes. Even when suspensions are overturned, the stress and hardship that a person faces after having their income taken away is irreversible.<\/p>\n Share<\/a><\/p>\n Updated at\u00a021.54 EST<\/p>\n Tasmania\u2019s Dolphin Sands reopened to residents after fire<\/p>\n Tasmanian residents who fled from bushfires last week will be able to return to their properties this afternoon.<\/p>\n Nineteen homes were lost to a blaze in Dolphin Sands on the state\u2019s east coast on Thursday. Dolphin Sands Road reopened to local traffic from 1.30pm today, emergency services said.<\/p>\n Southern Regional emergency management controller, commander Jason Elmer, said:<\/p>\n Thanks to crews working tirelessly to clear debris and restore damaged infrastructure, and with wind conditions easing, the situation has improved enough to allow safe access for local traffic.<\/p>\n There are still significant safety factors to consider, so police roadblocks will remain in place on Dolphin Sands Road to ensure access is only provided to local residents.<\/p>\n Residents were warned to wear protective clothing and try not to disturb dust and ash given the possible presence of hazardous materials, including asbestos.<\/p>\n Tasmania firefighters battling the Dolphin Sands fire earlier this week. Photograph: Tasmania policeShare<\/a><\/p>\n Updated at\u00a021.38 EST<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/4422.jpg\")
The RBA has kept the official cash rate on hold at 3.6%. Photograph: Mark Baker\/APShare<\/a><\/p>\n![\"Tom](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Tom_McIlroy.png\")
Tom McIlroy<\/p>\n![\"Patrick](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Patrick_Commins.png\")
Patrick Commins<\/p>\nPatrick Commins<\/p>\nLuca Ittimani<\/p>\n![\"Nick](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Nick_Visser.png\")
Nick Visser<\/p>\n![\"Daisy](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Daisy_Dumas.png\")
Daisy Dumas<\/p>\n
A bush fire is burning near Home Hills Rd, Bogee. If you are in the area of Home Hills Rd, you are in danger. Leave now in a northerly direction if the path is clear towards Rylstone. https:\/\/t.co\/V432bL5FIV<\/a> pic.twitter.com\/E4yNoSVkAw<\/a><\/p>\n![\"Andrew](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Andrew_Messenger.png\")
Andrew Messenger<\/p>\nLuca Ittimani<\/p>\n![\"Cait](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/12\/Cait_Kelly.png\")
Cait Kelly<\/p>\nDaisy Dumas<\/p>\n