August 5, 2025 • 6 mins
The latest ANZ-Roy Morgan Consumer Confidence index shows Australian consumer confidence has reached the highest level in over three years.
More Australian households have reported feeling better off financially, with levels expected to grow in the coming months.
Australian correspondent Murray Olds says the RBA is set to meet next week - and economists are hopeful a rate cut will come.
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Episode Transcript
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Speaker 1 (00:00):
Murray Old's Australia corresponds with us. Now, he mus.
Speaker 2 (00:04):
Good afternoon, Heather.
Speaker 1 (00:04):
So what do you make about Albo speaking with Buffwoo.
Speaker 2 (00:06):
Bus Well, it's well and truly in keeping with what
you would expect from, you know, a left wing prime
minister of Australia. Don't forget the Labor government has said
over here that Australian recognition of Palestine it's not a
matter of when, but if, not if, but when I
beg your pardon to put around the other way. So
(00:27):
it's going to happen. But again Albanesi and Penny Wong's
stressing it'll be done on their timeline, not pressured by
you know, for example, France, Britain, Canada all announcing conditional
recognition plans. Now, he did speak overnight with Muhmud Abbas,
who was the boss of the Palestinian Authority. As a
(00:47):
readout from the Prime Minister's office, Albanzi calling for the
immediate entry of as much aid as could possibly be
shoved in there, a permanent cease fire and the release
of all the hostages, something that of course a bus
can't deliver. He's also reinforced that his support for a
two state solution and the pair will be able to
(01:07):
meet next month Heather at the United Nations General Assembly.
This is very much a moving, moving feast over here
for the government, as I said, And it's not a
matter of it's a matter of when not if that
Australia recognizes Palestine as a state.
Speaker 1 (01:24):
Okay, So so he's talked to a bus. He also
wants a call with bb Why is why has Albow
suddenly become the guy who wants to get himself involved
in the Middle East?
Speaker 2 (01:33):
Well, good question, I mean to me, it's a bit
of a mystery, to be honest. I mean, Australia's position
is pretty well known. The temperature has been amping up
over here. We had that huge rally on Sunday and
the pouring rain of the Harbor Bridge. Yeah, so that
the optics of that was pretty it was pretty profound.
Speaker 1 (01:54):
The answer, isn't it, muz, is that is that he's
being he's been pressured by Australians who want to see
something done and he's doing something or at least trying.
Speaker 2 (02:02):
Well, that could be one explanation, to be honest, I
hadn't sort of thought down that little rabbit hole. But
you might be dead right because the optics were very,
very powerful. I mean you see all ages, women in wheelchairs,
babies on shoulders. It was a hell of a turnout
in a dreadful, dreadful weathery day. So you know who knows,
I mean politics, your gifts is as good as mine.
(02:25):
But gee, don't they love an optical like a pick? Fact?
Don't they love an opportunity to stand there in front
of the cameras?
Speaker 1 (02:31):
Yeah, totally. Hey, how about your consumer confidence? What's going on?
Speaker 2 (02:35):
Well? Interest rates are coming down, that's the inflations down
right where the Reserve Bank wants it, and expectations of
a cut in interest rates have really accelerated. This push
in consumer confidence the highest level since labor one and
twenty twenty two. So you know, the A and zed
(02:57):
Roy Morgan mob released their weekly consumer sentiment report today
and what it's found four percentage points have jumped the
last week. Four percentage points. That's a heck of a
big uptick, no doubt about that. The Reserve Bank is
going to meet next week and every economist, I mean
(03:18):
one hundred percent of economists, I'm not sure how many
they are, it's maybe twenty. I've all said, yes, rates
are coming down next week and another rate cut before Christmas,
So no wonder there's a bit of a step, a
bit of a spring, and the step of people over
here have been groaning under the weight of a lot
of debt.
Speaker 1 (03:34):
Too bloody right, do you reckon that Melbourne can become
the world's most optimistic city?
Speaker 2 (03:40):
Melbourne gets a bad rap, you know. I mean, you know,
Sidney gets more rained every year than Melbourne. But when
you look at the two, yeah, truly, truly, we just
get it more heavily, less frequently. Melbourne just drizzled the
bloody time. It's just, yeah, that's that horrible drizzle. Melbourne's
got great coffee and maybe the best sporting precinct in
the war with the mcg and then the tennis center
(04:02):
just down the hill. But for me, that's where it
sort of stops. It's a boring synem.
Speaker 1 (04:08):
So I overrated. I hate it, eye borderline hate it.
Speaker 2 (04:13):
You hate velvet? Oh my goodness, Well the mayor seems
to think. Listen. He had a big round table. His
name is Nick Reese. He hosted a Melbourne twenty to
fifty summit back in May, looking for new initiatives to
promote the city. A lot of young people were there
and they said, listen, can we also include KPIs for happiness?
We want to measure the feel good factor amongst Melburnian's.
(04:34):
What do we like about our city. Let's have a
strategy to make it the world's most optimistic and happiest city.
Just half close your eyes. A minute ago they were
lockdown with the worst COVID lockdown in the world. Daniel
Andrew's strutting around in his north faced jacket with his
big bloody ears sticking out like the doors in a Volkswagen,
(04:54):
absolutely making everyone furious. A minute ago, that's what that
was the temperature in the tone in Melbourne. Now, the
new mayor says, the city is going to be pumping.
We're going to be humming, We're going to be optimistic
and happy. Well your borderline hatred my goodness, Yeah.
Speaker 1 (05:12):
I really do. I hate muz. Thank you appreciate it,
Mariol's Australia correspondent. See how that goes for Melbourne. Drizzle
does somewhat dampen the mood, doesn't it?
Speaker 2 (05:21):
Here?
Speaker 1 (05:22):
The AI already marks my draft internal assessments. Does a
better job and a quicker job than I could listen
just on that matter of Elbow calling the Palestinians. I mean,
I don't know what value it is to call the
Palestinian authority, but regardless, so he's calling the Palestinians and
he's calling, he's trying to get a phone call with Benyamin,
Nett and Yahoo. I kind of I've got to be honest,
(05:42):
I kind of like the approach that Elbow's taking on
this because I think this is the kind of approach
that has to be taken, and I feel like it
wouldn't the more that if there were more world leaders
getting on the blow out of these guys and going listen,
we have had an absolute guts full of it. My
people are furious. Surely it kind of start to get
(06:02):
just shape a bit of sentiment in the Middle East.
Because I was listening to something the other day. It
was a couple of BBC correspondents who are very very experienced,
very very connected. They were talking about this, and the
revelation from them is that the Israelis, at least at
the cabinet level, have no idea how upset the world
is about what's going on in Gaza. They have no
idea the officials do, because the officials are the ones.
(06:23):
The diplomats are the ones having to meet with other
diplomats around the world and just getting an absolute bollocking
from around the world. The other ones having to listen
to media in the rest of the world and see
what's going on. But actually, at the cabinet level in Israel,
they've got no idea how upset everybody is. So maybe
if everybody around the world's got on the blower to
bb and just gave him a bollocking, maybe he might
start to realize that there is potentially some value in
(06:43):
what Albow's doing. For more from Heather Duplessy Alan Drive,
listen live to news talks.
Speaker 2 (06:48):
It'd be from four pm weekdays, or follow the podcast
on iHeartRadio.
Murray Old's Australia corresponds with us. Now, he mus.
Speaker 2 (00:04):
Good afternoon, Heather.
Speaker 1 (00:04):
So what do you make about Albo speaking with Buffwoo.
Speaker 2 (00:06):
Bus Well, it's well and truly in keeping with what
you would expect from, you know, a left wing prime
minister of Australia. Don't forget the Labor government has said
over here that Australian recognition of Palestine it's not a
matter of when, but if, not if, but when I
beg your pardon to put around the other way. So
(00:27):
it's going to happen. But again Albanesi and Penny Wong's
stressing it'll be done on their timeline, not pressured by
you know, for example, France, Britain, Canada all announcing conditional
recognition plans. Now, he did speak overnight with Muhmud Abbas,
who was the boss of the Palestinian Authority. As a
(00:47):
readout from the Prime Minister's office, Albanzi calling for the
immediate entry of as much aid as could possibly be
shoved in there, a permanent cease fire and the release
of all the hostages, something that of course a bus
can't deliver. He's also reinforced that his support for a
two state solution and the pair will be able to
(01:07):
meet next month Heather at the United Nations General Assembly.
This is very much a moving, moving feast over here
for the government, as I said, And it's not a
matter of it's a matter of when not if that
Australia recognizes Palestine as a state.
Speaker 1 (01:24):
Okay, So so he's talked to a bus. He also
wants a call with bb Why is why has Albow
suddenly become the guy who wants to get himself involved
in the Middle East?
Speaker 2 (01:33):
Well, good question, I mean to me, it's a bit
of a mystery, to be honest. I mean, Australia's position
is pretty well known. The temperature has been amping up
over here. We had that huge rally on Sunday and
the pouring rain of the Harbor Bridge. Yeah, so that
the optics of that was pretty it was pretty profound.
Speaker 1 (01:54):
The answer, isn't it, muz, is that is that he's
being he's been pressured by Australians who want to see
something done and he's doing something or at least trying.
Speaker 2 (02:02):
Well, that could be one explanation, to be honest, I
hadn't sort of thought down that little rabbit hole. But
you might be dead right because the optics were very,
very powerful. I mean you see all ages, women in wheelchairs,
babies on shoulders. It was a hell of a turnout
in a dreadful, dreadful weathery day. So you know who knows,
I mean politics, your gifts is as good as mine.
(02:25):
But gee, don't they love an optical like a pick? Fact?
Don't they love an opportunity to stand there in front
of the cameras?
Speaker 1 (02:31):
Yeah, totally. Hey, how about your consumer confidence? What's going on?
Speaker 2 (02:35):
Well? Interest rates are coming down, that's the inflations down
right where the Reserve Bank wants it, and expectations of
a cut in interest rates have really accelerated. This push
in consumer confidence the highest level since labor one and
twenty twenty two. So you know, the A and zed
(02:57):
Roy Morgan mob released their weekly consumer sentiment report today
and what it's found four percentage points have jumped the
last week. Four percentage points. That's a heck of a
big uptick, no doubt about that. The Reserve Bank is
going to meet next week and every economist, I mean
(03:18):
one hundred percent of economists, I'm not sure how many
they are, it's maybe twenty. I've all said, yes, rates
are coming down next week and another rate cut before Christmas,
So no wonder there's a bit of a step, a
bit of a spring, and the step of people over
here have been groaning under the weight of a lot
of debt.
Speaker 1 (03:34):
Too bloody right, do you reckon that Melbourne can become
the world's most optimistic city?
Speaker 2 (03:40):
Melbourne gets a bad rap, you know. I mean, you know,
Sidney gets more rained every year than Melbourne. But when
you look at the two, yeah, truly, truly, we just
get it more heavily, less frequently. Melbourne just drizzled the
bloody time. It's just, yeah, that's that horrible drizzle. Melbourne's
got great coffee and maybe the best sporting precinct in
the war with the mcg and then the tennis center
(04:02):
just down the hill. But for me, that's where it
sort of stops. It's a boring synem.
Speaker 1 (04:08):
So I overrated. I hate it, eye borderline hate it.
Speaker 2 (04:13):
You hate velvet? Oh my goodness, Well the mayor seems
to think. Listen. He had a big round table. His
name is Nick Reese. He hosted a Melbourne twenty to
fifty summit back in May, looking for new initiatives to
promote the city. A lot of young people were there
and they said, listen, can we also include KPIs for happiness?
We want to measure the feel good factor amongst Melburnian's.
(04:34):
What do we like about our city. Let's have a
strategy to make it the world's most optimistic and happiest city.
Just half close your eyes. A minute ago they were
lockdown with the worst COVID lockdown in the world. Daniel
Andrew's strutting around in his north faced jacket with his
big bloody ears sticking out like the doors in a Volkswagen,
(04:54):
absolutely making everyone furious. A minute ago, that's what that
was the temperature in the tone in Melbourne. Now, the
new mayor says, the city is going to be pumping.
We're going to be humming, We're going to be optimistic
and happy. Well your borderline hatred my goodness, Yeah.
Speaker 1 (05:12):
I really do. I hate muz. Thank you appreciate it,
Mariol's Australia correspondent. See how that goes for Melbourne. Drizzle
does somewhat dampen the mood, doesn't it?
Speaker 2 (05:21):
Here?
Speaker 1 (05:22):
The AI already marks my draft internal assessments. Does a
better job and a quicker job than I could listen
just on that matter of Elbow calling the Palestinians. I mean,
I don't know what value it is to call the
Palestinian authority, but regardless, so he's calling the Palestinians and
he's calling, he's trying to get a phone call with Benyamin,
Nett and Yahoo. I kind of I've got to be honest,
(05:42):
I kind of like the approach that Elbow's taking on
this because I think this is the kind of approach
that has to be taken, and I feel like it
wouldn't the more that if there were more world leaders
getting on the blow out of these guys and going listen,
we have had an absolute guts full of it. My
people are furious. Surely it kind of start to get
(06:02):
just shape a bit of sentiment in the Middle East.
Because I was listening to something the other day. It
was a couple of BBC correspondents who are very very experienced,
very very connected. They were talking about this, and the
revelation from them is that the Israelis, at least at
the cabinet level, have no idea how upset the world
is about what's going on in Gaza. They have no
idea the officials do, because the officials are the ones.
(06:23):
The diplomats are the ones having to meet with other
diplomats around the world and just getting an absolute bollocking
from around the world. The other ones having to listen
to media in the rest of the world and see
what's going on. But actually, at the cabinet level in Israel,
they've got no idea how upset everybody is. So maybe
if everybody around the world's got on the blower to
bb and just gave him a bollocking, maybe he might
start to realize that there is potentially some value in
(06:43):
what Albow's doing. For more from Heather Duplessy Alan Drive,
listen live to news talks.
Speaker 2 (06:48):
It'd be from four pm weekdays, or follow the podcast
on iHeartRadio.
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