The Reserve Bank of Australia has raised interest rates for the second time this year, with a narrow five-to-four board vote, bringing the official cash rate to 4.1%. All major banks will pass the 0.25% increase to customers by the end of March, with another potential hike possible in May as the RBA manages inflation at 3.8%. The decision comes amid ongoing economic pressures and Middle East conflict affecting oil supplies.

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The Reserve Bank has raised interest rates for the second time this year, lifting the official cash rate to 4.1% following a narrow five-to-four board vote. Reserve Bank Governor Michelle Bullock indicates a recession may be necessary to reduce inflation, which currently sits at 3.8%, with concerns about rising fuel prices due to conflict in Iran affecting the economic outlook. Treasurer Jim Chalmers has announced the upcoming budget will focus on tackling inflation, productivity and returning the budget to balance, while the big four banks have passed on the rate hike to mortgage holders but not fully to savings account holders.

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King Charles faces pressure from British MPs to postpone or cancel his planned trip to the United States for the 250th anniversary of American independence. The concerns centre on potential embarrassment from President Donald Trump, the deteriorating relations between Westminster and Washington, and the perception that a visit could be seen as endorsing Trump's policies, particularly regarding Iran. Despite these concerns, palace insiders expect the trip to proceed due to the strong relationship between the King and the celebration's focus on the American people rather than solely the president.

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A 49-year-old man was shot in the upper arm during an altercation outside a shisha bar and cafe in Altona North, Melbourne's west, at 11:30pm. The shooter fled in a getaway vehicle that was later discovered burnt out approximately 800 metres from the scene. The Armed Crime Squad is investigating two crime scenes and examining CCTV footage to determine whether the victim was specifically targeted.

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President Trump declares America will proceed alone in its conflict with Iran after failing to secure NATO allies' support for warship deployment to the Strait of Hormuz. Senior US counterterrorism official Joe Kent, a retired combat veteran, has resigned in protest, stating Iran posed no imminent threat and alleging the war began due to pressure from Israel and its lobby. Israel has eliminated Iranian security leader Ali Laragini in Tehran, while Iranian forces continue strikes across the Middle East including the US embassy in Baghdad.

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It's D-Day for Kyle Sandilands, who's sweating on news from KIIS FM on the future of his $100 million radio gig. A decision is due any moment, with lawyers betting the breakfast shock jock will have his contract torn up.

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British Airways has made its long-awaited return to Melbourne and it is giving travellers another option to get to Europe. It comes as Jetstar improves its offering with a new way to upgrade to business class.

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New research is investigating whether junk foods could be driving a worrying rise in bowel cancer among younger Australians. Doctors are studying how modern diets may be changing the gut and increasing cancer risks.

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Frustrated Victorian farmers are desperate to start harvesting but some are being told they can't get the fuel they need to do the job. They want the Allan government to offer free public transport saving fuel for primary producers.

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The Victorian opposition leader is making a splash, stripping down to her bathers with a cheeky video taking aim at the government's commonwealth games debacle. Jess Wilson is joined by a cast of colleagues to mark what should've been a historic game opening.

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