Labor will announce a defence recruitment and retention plan that includes extra payments for permanent personnel. Follow today’s news headlines liveGet our breaking news email, free app or daily news podcastThe Reserve Bank of Australia is widely tipped to keep rates on hold but a dovish turn in its post-meeting statement could lay the foundations for a pre-Christmas cut, Australian Associated Press reports.The clear consensus of economists and the market is that the RBA board will keep the cash rate at 4.35% at Tuesday’s meeting, given underlying inflation persists higher than they would like.While inflation fell again in the September quarter, the RBA will likely regard underlying inflation at 3.5% year on year as still too high, with services inflation remaining sticky and will see still low unemployment as meaning that there is no urgency to cut.But the continuing progress in getting inflation down may see it become a little less hawkish in its commentary and it may make small downwards revisions to its inflation and growth forecasts for next year.These retention bonuses are short-term initiatives to alleviate pressure on the ADF’s junior and middle ranks, and address hollowness in the force. Continue reading…
Source link : https://www.theguardian.com/australia-news/live/2024/nov/05/australia-news-live-interest-rates-inflation-rba-melbourne-cup-weather-heatwave-defence-cash-bonuses-abortion-cost-of-living
Author : Tory Shepherd
Publish date : 2024-11-04 19:54:06
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Australia politics live: cash bonuses extended to try to stop military talent drain; RBA tipped to keep rates on hold
