Reserve Bank Governor warns Australian families that interest rate increases may be imminent, with underlying inflation remaining above target levels. Rates could reach their highest point since 2011 if the Independent Board decides to act. The political debate centres on government spending, productivity measures including free TAFE, immigration policy, and the NDIS, with disagreement over economic management strategies to address inflation and declining living standards.

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Reserve Bank of Australia Governor Michelle Bullock has issued warnings about potential interest rate hikes as inflation remains stubbornly above the RBA's target band at around 4% for the year to June. Economists expect the underlying trim mean inflation rate to edge up to approximately 3.8%, marking four years of inflation above the central bank's target. The persistent inflation is driven by demand growing faster than supply in the Australian economy, with global factors including oil prices and geopolitical tensions also contributing to the pressure.

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Australia's inflation figures are expected to be released at 11:30am, with economists forecasting the headline rate at around 4% and the underlying rate at 3.7%, both above the RBA's target band of 2-3%. Housing costs, energy prices, rents, electricity and petrol continue to be the main drivers of inflation. RBA Governor Michelle Bullock has indicated the central bank remains prepared to raise interest rates further if inflation persists, with the next board meeting scheduled for 11 August.

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Chemist Warehouse on Pitt Street partners with Revlon for International Lipstick Day, offering a promotion where $2 from each Revlon Super Lustrous lip product purchase (until 19 August) goes to Look Good Feel Better. The charity empowers women with cancer to feel confident and like themselves again. Delta Goodrem is scheduled to appear as a special guest.

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Financial wellness coach Betsy Westcott evaluates popular spending choices, recommending coffee machines, robot vacuums, stylists, building and pest inspections, and quality mattresses as worthwhile investments. She advises against Uber Eats, brand name pantry items, cars beyond one's budget, bottled water, and extended warranties as poor uses of money. A coffee machine can save approximately $37,000 over six years compared to café purchases, while switching to generic brands can save $3,500 annually.

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A fossil discovered near Richmond, Queensland reveals unprecedented evidence of prehistoric predator-prey relationships from over 100 million years ago. The six to seven metre ichthyosaur fossil contains pterosaur remains in its stomach and displays more than 50 bite marks throughout its skeleton from a larger marine carnivore, a plesiosaur. The specimen, found in 2019 and fully excavated three years later, required over 600 hours of laboratory preparation and represents the first time scientists have documented both stomach contents and extensive predation evidence in a single ichthyosaur fossil.

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A massive saltwater crocodile was filmed tracking young children standing dangerously close to the water at Kales Crossing in Kakadu National Park, Northern Territory. The family ignored warning signs and pedestrian access restrictions at the notorious crocodile hotspot, prompting park rangers to intervene. Kakadu National Park manager Kyle Lindner warns that such behaviour encourages crocodiles to become more vigilant around humans, creating life-threatening situations.

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Pauline Hanson is seeking to appeal a Federal Court decision to the High Court after the court upheld its original verdict that her 2024 tweet directed at Greens Senator Mehreen Faruqi constituted a strong form of racism. The One Nation leader has engaged one of Australia's top high court advocates to pursue the appeal and potentially overturn the Federal Court's ruling.

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Victorian Premier Jacinta Allan faces a leadership challenge with the majority of her colleagues reportedly wanting her to step down just four months before the state election. Deputy Premier Ben Carroll is positioned as the likely successor, though concerns exist about whether a leadership change can salvage Labor's electoral prospects. The challenge comes amid 71% dissatisfaction polling for Allan and criticism over her handling of bail laws, corruption issues, and infrastructure decisions.

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