Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Reserve Bank Governor Michele Bullock has defended the central bank's decision to raise interest rates for the third time this year.

The official cash rate has risen by a quarter of a percentage point to four-point-three-five per cent, effectively unwinding last year's cuts.

Ms Bullock says conflict in the Middle East has forced up fuel prices and, in turn, businesses are raising the cost of their goods, driving up inflation.

A tax cut of up to 300 dollars this financial year for Australian workers has not been ruled out by Labor ahead of the federal budget.

Prime Minister Anthony Albanese has acknowledged the speculation and says voters can make up their own minds about any tax changes unveiled next week.

The Coalition has raised concerns about the inflationary impact of a potential cut but is awaiting details before announcing a position on Labor's changes.

An Israeli immigrant has told the Royal Commission on antisemitism and social cohesion Australia doesn't feel like a safe place and she is preparing to leave the country with her family.

The inquiry has heard evidence from Dr Tali Pinsky, who migrated to Australia with her husband and four children early last year to take up a job as an academic at Monash University.

Dr Pinsky has told the hearing that while she and her husband hold a permanent visa in Australia, they plan to go back to Israel at the end of the year after experiencing abuse for her Jewish and Israeli heritage.

Press the "Follow" or "+" button on this show page to add us to your playlist, so you never miss an episode.

And for more news at any time, you can follow the ABC Top Stories podcast.

Mortgage borrowers will be hit with their third interest rate rise this year following a meeting of the Reserve Bank.

The RBA has increased interest rates by a quarter of a percentage point.

The new cash rate target is 4.35 per cent, up from 4.1 per cent.

RBA Governor Michele Bullock says she understands the pain facing households, but says action is needed now to stop inflation getting out of control.

A Jewish man has told the Royal Commission on antisemitism and social cohesion he was encouraged by police to drop his case against a man who allegedly made death threats and performed Nazi salutes.

The inquiry has heard from Nir Golan, who has described being verbally abused and threatened by a man at Bondi Junction in October 2023 because he was wearing a kippah in public.

Mr Golan has told the inquiry the man then bashed a bystander who tried to intervene, and fled before police arrived.

Donald Trump claims the war with Iran is working out very nicely as tensions increase in the Strait of Hormuz.

Mr Trump says the US has struck seven Iranian fast boats in the Strait, as Washington seeks to guide stranded ships out of the Gulf through the largely closed waterway.

Iran is warning America not to interfere with its blockade, and has fired shots at US warships in retaliation.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

The Reserve Bank has increased interest rates by 0.25 percentage points.

The new cash rate target is 4.35 per cent, up from 4.1 per cent.

Interest rates have now returned to the level they were at in February 2025, before the RBA began its rate-cutting cycle - meaning last year’s policy easing has been fully unwound.

Rates have been lifted three times this year, but economists say the Reserve Bank Board may now want to wait a while to see how the economy responds before it moves rates again.

West Australian author Craig Silvey has pleaded guilty to child exploitation material charges.

Appearing in Fremantle Magistrates’ Court today, Silvey - best known for his award-winning book Jasper Jones - pleaded guilty to distributing and possessing child exploitation material in January.

A charge of producing child exploitation material, and a second possession charge, have been dropped.

Silvey is scheduled to face the Perth District Court on the two charges he’s pleaded guilty to in July.

A Victorian mother has told the Royal Commission on antisemitism and social cohesion her children have said they no longer want to be Jewish after hearing repeated offensive remarks by their peers.

The Geelong mother-of-two, known as AAP, has told the inquiry her son heard fellow students discussing dressing up as Adolf Hitler or the alleged Bondi Beach shooters for their Year 12 muck-up day celebrations.

She says both her children attend same-sex Catholic schools, and the sentiment towards Jewish people has become very negative after the October 7 Hamas terrorist attack.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

Celebrities and billionaires descended on New York for the traditional first Monday in May museum fundraiser.

The man accused of murdering five-year-old Kumanjayi Little Baby has been excused from appearing in court in the Northern Territory.

Jefferson Lewis was expected to face Alice Springs Local Court this morning via a video link from Darwin, but his lawyer requested he be excused.

Mr Lewis is charged with one count of murder and two other charges that cannot be disclosed for legal reasons.

The prosecution's requested a lengthy adjournment, with the case expected to return to court on July 30.

The Opposition is accusing the Prime Minister of being a "liar", as the government prepares to unveil major changes to capital gains tax and negative gearing in next week's budget.

While the exact details are yet to be confirmed, the government is laying the groundwork by arguing it needs to fix intergenerational inequity to help younger Australians wanting to enter the housing market.

Opposition Leader Angus Taylor says during last year's election campaign, Labor repeatedly promised it wouldn't touch negative gearing.

The Reserve Bank will walk a careful line between controlling inflation and steering the country away from a recession when it hands down its rates decision this afternoon.

Inflation jumped for the first quarter of this year, leading markets to factor in an 82% chance of an increase to 4.35%.

But some experts argue hiking rates too much further could be a wet blanket for the economy as the Middle East conflict continues.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

The man accused of murdering five-year-old Kumanjayi Little Baby has been excused from appearing in court in the Northern Territory.