Headlines: RBA Governor warns rate cut is not guaranteed

Today's headlines include:

The Governor of the Reserve Bank of Australia (RBA) says she’s cautious about cutting interest rates without more evidence that inflation has stabilised.

The Government has introduced legislation to freeze taxes on draught beer.

Several people have been injured, and two civilians are dead as violent clashes continue to escalate at Thailand’s border with Cambodia.

And today’s good news: Archaeologists have located the wreckage of a missing 83-year-old Japanese warship.

Hosts: Billi FitzSimons and Sam Koslowski
Producer: Emma Gillespie

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Episode Transcript

Speaker 1 (00:05):
From the Daily Os. I'm Sam Kazlowski.

Speaker 2 (00:07):
I'm belief it Simon the twenty.

Speaker 1 (00:09):
Fourth of July. Here's what's making headlines this evening.

Speaker 2 (00:14):
The Governor of the Reserve Bank of Australia says she
is cautious about cutting interest rates without more evidence inflation
has stabilized. While inflation is within the target range of
two to three percent, currently sitting at two point four percent,
Michelle Bullock is not guaranteeing that RBA will cut rates
when it meets next month. Speaking in Sydney today, Governor

(00:36):
Bullock said that RBA wants to make sure that inflation
remains low and stable from here on in. Bullock noted
a measured and gradual approach to monetary policy easing is appropriate.
The Central Bank's decision not to lower rates earlier this
month came as some surprise, going against the predictions of
many economists.

Speaker 1 (00:57):
The government has introduced legislation to freeze taxes on draft beer.
Under current processes, locally made and imported beer are subject
to increase duties twice a year. This bi annual levy,
known as the beer Excize, is adjusted in line with
inflation and generally paid for by manufacturers and importers. However,
these costs are often passed onto the consumers. Labour promised

(01:21):
to pause the excis for two years to reduce the
cost for venues and customers if it was re elected
in May. In the lead up to the election, Prime
Minister Anthony Alberanezi said freezing the excise on draft beer
is a common sense measure that's good for beer drinkers,
good for brewers and good for pubs. The proposal was
introduced in the Lower House today.

Speaker 2 (01:42):
Several people have been injured and two civilians are dead
as violent clashes continue to escalate at Thailand's border with Cambodia.
Tensions have intensified in recent months over a long standing
land dispute, with both countries increasing their military presence at
the border. At least two ties civilians were reportedly killed
by cross border shelling this week, prompting the evacuation of

(02:05):
thousands of Thai citizens from border villagers. Thailand's embassy has
told its citizens to leave Cambodia immediately, while both nations
have now recalled their ambassadors. According to Cambodian media reports,
Thai forces have bombarded to local provinces. Each country is
accusing the other of unprovoked.

Speaker 1 (02:24):
Attacks, and some good news for your Thursday. Archaeologists have
located the wreckage of a missing eighty three year old
Japanese warship, The one hundred and thirty four meter destroyer
known as the Taruzuki, sank off the Solomon Islands during
World War II. The exact site of the wreckage was unknown. However,
a joint research collaboration between several institutions, including the University

(02:49):
of New Hampshire and Kyodo University, has now found it. Tirezuki,
which translates to Shining Moon, is resting nearly eight hundred
meters below the surface. That's according to the fire from
a recent research exploration trip. Officials say the ship is
in excellent condition considering its age. Marine archaeologist Phil Hartemeier

(03:09):
was involved in the discovery, and he said only by
exploring our planet's unknown waters can these significant stories of
sacrifice and human connection to our ocean be brought to light.

Speaker 2 (03:20):
That's the latest from the Daily Oz newsroom. If you're
looking for something else to listen to, check out today's
deep dive on the latest on the AID killings in Gaza.

Speaker 1 (03:28):
We'll be back tomorrow with another deep dive, but until then,
enjoy your evening.

Speaker 2 (03:36):
My name is Lily Maddon and I'm a proud Arunda
Bunjelung Caalguttin woman from Gadigol Country. The Daily oz acknowledges
that this podcast is recorded on the lands of the
Gadighl people and pays respect to all Aboriginal and torres
Rate island and nations. We pay our respects to the
first peoples of these countries, both past and present.