![\"Luca](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Luca_Ittimani.png\")
Luca Ittimani<\/p>\nThree of four major banks now expect interest rates to fall next yearLuca Ittimani<\/p>\n
Top economists at ANZ, Commonwealth Bank and NAB are now predicting interest rates will not rise any higher this year and will start to fall from the middle of next year.<\/p>\n
ANZ today changed its rate call to predict two cash rate cuts in 2027. It had previously expected rates to remain steady for the foreseeable future.<\/p>\n
HSBC\u2019s Paul Bloxham also has now changed and expects no change until cuts in late 2027. Bloxham said:<\/p>\n
double quotation markInflation is still too high and is set to rise further before it falls. That being said, the RBA has already taken significant action to deal with this surge in inflation \u2013 and, critically, the action is working \u2026
We expect the RBA to be on hold in June. Although there is some risk the RBA might choose to hike again beyond that, we expect the weakening in growth to convince them to be on hold.<\/p>\n
Commonwealth Bank has not changed its prediction that the RBA will stay on hold before cutting twice in mid-2027. NAB expects a similar trajectory.<\/p>\n
But financial markets are still betting a hike is more likely than not over the next 12 months. Westpac today reaffirmed its view that the cash rate will rise in August and September this year, with no cuts until 2028. Its chief economist, Luci Ellis, today predicted inflation would peak at 4.7% late this year, lower than she previously expected but still higher than the RBA now expects it to be.<\/p>\n
Share<\/a><\/p>\n Updated at\u00a001.33 EDT<\/p>\n Key events<\/p>\n What we learned, Friday 12 June That\u2019s all from us today. Here are today\u2019s top headlines:<\/p>\n Thanks for joining us, have a lovely weekend!<\/p>\n Share<\/a> Earlier this year the Minns government delivered an updated coal policy, which ruled out new greenfield mines in NSW but allowed expansions to continue. This was despite advice<\/a> from the state\u2019s Net Zero Commission, which concluded that new expansions were inconsistent with the state\u2019s legislated emissions reductions commitments. That advice was one of five recommendations in the commission\u2019s Coal Mining Emissions Spotlight Report<\/a> last year.<\/p>\n On Friday, hours before the government referred the HVO project to the IPC, it published its report<\/a> in response to the Net Zero Commission\u2019s advice, accepting four of the five recommendations.<\/p>\n Greens environment spokesperson Sue Higginson said:<\/p>\n double quotation markThis next step for HVO comes the same day that the government accepted all of the Net Zero Commission\u2019s recommendations<\/a> in the Coal Spotlight Report, except the recommendation that coal expansions were inconsistent with climate laws that the Minns Labor Government introduced in 2023.<\/p>\n Share<\/a> Biggest coalmine expansion in NSW referred to Independent Planning Commission for decision<\/p>\n The largest coalmine expansion proposed in New South Wales has been referred to the state\u2019s Independent Planning Commission (IPC) for a decision.<\/p>\n Yancoal and Glencore are seeking approval for the Hunter Valley Operations (HVO) Continuation project near Singleton in the Hunter Valley. The project would extend open cut-mining at the site by 19 years to 2045 and mine an additional 430 million tonnes of coal.<\/p>\n The state government referred the project on Friday afternoon, which starts an 84-day process that will include public hearings before the commission reaches a decision.<\/p>\n Lock the Gate Alliance acting national coordinator Georgina Woods said:<\/p>\n double quotation markExpanding Hunter Valley Operations mine will worsen air pollution and water stress locally in the Hunter, but the impact of worsening global warming from its 800 million tonnes of greenhouse pollution will be felt by communities across New South Wales.<\/p>\n She said the group was expecting people from the Hunter and other regional areas would tell the commission about their experiences of climate change.<\/p>\n double quotation markFor too long these voices have not been heard and the costs of climate change on households have not [been] weighed up in planning decisions about coalmines.<\/p>\n Share<\/a><\/p>\n Updated at\u00a003.36 EDT<\/p>\n Conroy defends Aukus future<\/p>\n The defence industry minister, Pat Conroy, has rejected claims that the shock resignation<\/a> of British defence secretary John Healey poses any threat to the Aukus pact, labelling domestic concerns as \u201ctall poppy syndrome or cultural cringe here where we think everything\u2019s about Australia\u201d.<\/p>\n Speaking on ABC\u2019s Afternoon Briefing, Conroy dismissed suggestions that the UK\u2019s internal funding crisis could derail the nuclear submarine deal.<\/p>\n Conroy said:<\/p>\n double quotation markIn the UK system, the funding for the nuclear systems, the nuclear deterrent and the nuclear attack submarines, is ringfenced from the rest of the defence budget. This has got nothing to do with Australia.<\/p>\n Share<\/a><\/p>\n Updated at\u00a003.24 EDT<\/p>\n Thanks, everyone, for spending the afternoon with me!<\/p>\n I am going to hand you over to my colleague Ima Caldwell, who will take you through the evening.<\/p>\n Share<\/a><\/p>\n Updated at\u00a003.10 EDT<\/p>\n Weather fronts to bring rain, gusty winds to southern states, showers to southwest WA<\/p>\n A front will bring rain, showers and gusty winds to South Australia, Victoria, Tasmania and southern NSW this weekend, while a second front brings showers to far southwest Western Australia.<\/p>\n Cottesloe Beach, Perth. The west\u2019s capital city could get more wet weather this weekend. Photograph: Paul Kane\/Getty Images<\/p>\n An unstable air mass will maintain showers and storms over northwest and central WA, while onshore winds bring showers to eastern Queensland.<\/p>\n On Saturday, Brisbane will hit 24C, Darwin will hit 33C, Perth will see a high of 18C, Adelaide will experience 19C, Melbourne a high of 17C, Hobart 18C, Canberra 17C and Sydney 22C.<\/p>\n Share<\/a><\/p>\n Updated at\u00a002.56 EDT<\/p>\n ABC managing director Hugh Marks says it would be hypocritical not to talk to journalists who work for Rupert Murdoch.<\/p>\n In an interview with Ben Fordham on 2GB Marks said he couldn\u2019t comment on why other managing directors didn\u2019t come on the commercial radio station, but he believed in transparency.<\/p>\n Fordham:<\/p>\n double quotation markDid you know that a lot of ABC staff members were angry the first time they read quotes from Hugh Marks in the Australian?<\/p>\n Marks:<\/p>\n double quotation markWell, I\u2019d be hypocritical, wouldn\u2019t I, if I didn\u2019t talk to everybody in the industry on the same basis that we expect everybody in politics to talk to us at the ABC.<\/p>\n So being transparent, being out and about and \u2026 Talking to everybody and putting yourself in an environment where you are and you do have to justify the decisions you make I think is important.<\/p>\n Since December Marks has granted the Murdoch broadsheet three exclusive interviews<\/a>.<\/p>\n The former CEO of Nine Entertainment and independent producer said it was \u201cnot an easy decision\u201d to take on the job of managing director of the ABC because he \u201chad a nice life\u201d, but he believes in a strong public broadcaster.<\/p>\n double quotation markSo it was a difficult decision to do, but it\u2019s important. I think a strong public broadcaster is important and as a public broadcasters we have to accept that the taxpayer is our owner through the parliament of Australia.<\/p>\n Share<\/a><\/p>\n Updated at\u00a002.30 EDT<\/p>\n More Australians travelling to Indonesia; New Zealand and Japan still popular, ABS statistics show<\/p>\n Australian Bureau of Statistics data shows the number of short-term trips to Indonesia rose 16% over the year to April.<\/p>\n Kuta Beach in Bali. The number of Australians holidaying in Indonesia has risen strongly over the past year, according to ABS data. Photograph: Made Nagi\/EPA<\/p>\n The monthly arrivals and departures data show the three leading destination countries for Australian residents on short-term trips in April were: <\/p>\n – Indonesia (161,700 trips) The highest number of resident returns from short-term trips was for New South Wales (354,140), while the Northern Territory recorded the fewest (8,520).<\/p>\n Share<\/a><\/p>\n Updated at\u00a002.33 EDT<\/p>\n Court approves class-action style lawsuit against Queensland puberty blocker ban<\/p>\n The Queensland civil and administrative tribunal has approved a class-action style anti-discrimination lawsuit against the state\u2019s ban on gender affirming care.<\/p>\n Transgender children are banned from accessing puberty blockers or hormone therapy in Queensland public hospitals. Both drugs are still available for cisgender children.<\/p>\n The state unlawfully imposed the ban in January 2025. That order was thrown out by the supreme court in October, before being reimposed the same day.<\/p>\n In December, health minister Tim Nicholls announced the ban would be continued until 2031.<\/p>\n The LGBTQI legal service said Qcat had allowed another lawsuit against the ban to proceed as a representative action, akin to a class action. They will represent all young Queenslanders diagnosed with gender dysphoria who had yet to commence puberty blockers or hormone treatment at the time of the original order.<\/p>\n It also ordered that Queensland Health<\/a> Minister Tim Nicholls be joined as a respondent to the proceeding.<\/p>\n LGBTI legal service senior solicitor Emma Bastable said \u201cevery young person who meets the class definition is automatically included unless they choose to opt out by a date that will be set by the tribunal\u201d.<\/p>\n \u201cThis case is not limited to young people who were already on a treatment pathway, with the Tribunal finding that being denied the opportunity to be considered for treatment is enough,\u201d Bastable said.<\/p>\n double quotation markThe Tribunal has recognised that exclusion itself can cause harm, even before a young person reaches the point of treatment.<\/p>\n Share<\/a><\/p>\n Updated at\u00a002.34 EDT<\/p>\n That\u2019s all from me. Cait Kelly will take things from here. Enjoy your weekend!<\/p>\n Share<\/a>One Nation fundraiser in Melbourne cancelled, but event will take place elsewhere<\/p>\n A fundraiser for One Nation scheduled for tonight in Melbourne has been cancelled after the venue decided not to hold the event, according to Victoria police. The event was set to be held at Giorgio Casa, a bistro in Moonee Ponds.<\/p>\n A spokesperson for One Nation told Guardian Australia the event will go ahead at another location tonight, but did not specify where. The spokesperson said police \u201cdid express concern about protest activity at the event\u201d. They added the event was \u201csold out\u201d, but wouldn\u2019t put a number on how many people were expected to attend.<\/p>\n A spokesperson for Victoria police said officers were not aware of any threats made against the event.<\/p>\n \u201cThe decision not to hold the event was made by the venue,\u201d the spokesperson said.<\/p>\n A number of groups were planning to protest against the event<\/a>, saying Victorians needed to \u201cstand up and fight back\u201d and \u201cdrive Hanson out of Melbourne\u201d.<\/p>\n![\"Ima](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Ima_Caldwell.png\")
Ima Caldwell<\/p>\n![\"Lisa](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Lisa_Cox.png\")
Lisa Cox<\/p>\nLisa Cox<\/p>\n![\"Cait](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Cait_Kelly.png\")
Cait Kelly<\/p>\n![\"Amanda](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Amanda_Meade.png\")
Amanda Meade<\/p>\n
– New Zealand (135,190)
– Japan (108,540)<\/p>\n![\"Andrew](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Andrew_Messenger.png\")
Andrew Messenger<\/p>\n![\"Nick](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Nick_Visser.png\")
Nick Visser<\/p>\n