Murray Olds: Australian correspondent on the Australian Reserve Bank moving to keep the OCR on hold

The Australian Reserve Bank has moved to leave rates on hold at 4.35 percent.

Figures from the June quarter showed inflation has stayed in line with market expectations - but the bank is holding on before making bigger moves.

Australian correspondent Murray Olds says Australians are still on edge, as a cut is unlikely to happen until early 2025.

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Episode Transcript

Speaker 1 (00:00):
Mariold Dozy corresponds with SMAs Hey, Heather, good afternoon. RBA
has made the call to hold, yes, indeed a two
day meeting, and we found out only a short time ago,
a few minutes ago, that for the sixth time this year,
the Reserve Bank will keep the cash rate on hold,
and that in the context of falling global share markets,

(00:24):
and many people have here were saying, what's that going
to do in terms of influencing the Reserve Bank and
the government. Michelle Bullock. Most economists were tipping rates would
stay at four point three five percent, been that level
all year, but people are jutterary, no doubt about it.
The Australian Stock Exchange yesterday had its worst day heather
since the start of the COVID pandemic, down five point

(00:45):
seven percent. It's billions and billions of dollars, but there's
been some recovery today, there's some lost ground and made up.
So when my interest rates begin to track down, well,
economists is saying not to Lily twenty twenty five, just
in time maybe for the federal election, and it could
be a biggie yeah, could well be. Hey, so is he.
Peter Dutton wants Australia pull it's unrefunding. Yeah, that's right. Now,

(01:06):
look after that idious attack last October, that's exactly what
the Australian government did. It pulled its funding from the
United Nations Relief and Works Agency after those allegation service
that some agency staff actually took part in those Humas
attacks on October seven. Well after a period of time,

(01:28):
that fund was restored, the government arguing it was better
for the greater good that that money was going to
actually house people in these areas. Well. Peter Dutton now
jumping in after that finding it in fact year nine
staff were involved. Dunton says that the government made a
very bad mistake by restoring the funding to that UN agency.

(01:48):
He wants that money cut. And I can also tell
you this afternoon that Anthony Alberezi, the Prime Minister, has
revealed the Australian government won't be expelling the Iranian ambassador
to Australia, but he has been called in and has
backside kicked. He used x to call Israel quote a
Zionist plague, and he described the Hummas promise to wipe

(02:09):
out Israel by twenty twenty seven as a quote heavenly
and divine promise. He's just sort of blokey. We should
be putting on a plane out of Mascot Airport back
over the Middle East. Reckon sounds like a winner. Now,
why are you guys so in too, Nomi Fox? Well,
because we just love the family, the family of bloody overachievers, Heather,
that is dreadful. Mum and Dad both went to the

(02:30):
Olympic Games as paddlers. Mum in fact won of bronze
for France way back in nineteen ninety six in Atlanta paddling.
Dad of course went to five or six World Championships
for Great Britain, so no surprise, their pogyny are pretty
good paddlers. And Jess Fox thirty years old, the older
of the two sisters. What an overachiever, top New South

(02:51):
Wales if you don't mind, in one of those high
school end of high school subjects, top of the state.
One Olympic gold in Tokyo, two more gold medals and Paris.
So she got six medals in total and fourteen world titles.
Now the little sister's got a gold medal too. Her
name her name is no Emi. I almost said Naomi,
but it's no Emi. She's twenty seven years old and

(03:14):
she won the She won the it's a brand new event,
I think it is, and it's that it's the kayak
cross where they come leaping into the water and start
belting each other and go all the way down the
white water. And as she prevailed, she got the gold medal.
It was lovely, lovely moment to see the two sisters
embracing in the water because finally now bragging rights are shared. Yeah, okay,

(03:36):
I can understand why you guys are into it. I
thank you very much. Maz really appreciate it. Murray Old's
our Rossie correspondent. For more from Hither Dukelessy Allen Drive,
listen live to news talks it'd be from four pm weekdays,
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