Headlines: Interest rates on hold in surprise RBA decision

Today's headlines include:

The Reserve Bank of Australia (RBA) has left the cash rate unchanged at 3.85%.

The death toll from the Texas floods has surpassed 100, with at least 28 children among the dead.

Israeli President Benjamin Netanyahu has put Donald Trump’s name forward for a Nobel Peace Prize.

And in today’s good news: A small South American country has become the first malaria-free region in the Amazon.

Hosts: Emma Gillespie and Billi FitzSimons
Producer: Emma Gillespie

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Episode Transcript

Speaker 1 (00:05):
From the Daily Os. I'm Emma Gillespie.

Speaker 2 (00:08):
I'm belief that Simon's It's.

Speaker 1 (00:09):
Tuesday, the eighth of July. Here's what's making headlines this evening.

Speaker 2 (00:14):
The Reserve Bank of Australia has left the cash rate
unchanged at three point eight five percent. The cash rate
is what the RBA charges banks for short term loans.
It affects how much interests banks charge customers on their loans,
for example, mortgages. In today's announcement, the RBA said it
needs to quote wait for a little more information to

(00:35):
confirm that inflation remains on track to reach its target
range of two to three percent. The RBA has cut
the cash rate twice since the start of the year,
when it was at four point three five percent. Today's
decision not to lower rates further came as some surprise,
going against the predictions of many economists. However, the central
bank said, quote, uncertainty in the world economy remains elevated.

(01:00):
The next RBA decision will be handed down on the
twelfth of August.

Speaker 1 (01:06):
The death toll from the Texas floods has surpassed one
hundred people, with at least twenty eight children among the dead.
Heavy rain on the Guadaloupe River in the state's southeast
led to widespread flash flooding over the weekend. According to
officials in the hard hit Kerr County, one hundred and
four deaths have now been confirmed. Dozens are still missing,

(01:27):
including ten children and one counselor who are at the
site of a now badly damaged All Girls holiday camp.
A spokesperson from Camp Mystic said quote, our hearts are broken,
alongside our families that are enduring this unimaginable tragedy. State
Governor Greg Abbott has praised the efforts of the Texas
National Guard following the rescue of at least five hundred

(01:49):
and twenty flood victims.

Speaker 2 (01:54):
Israeli President Benjamin Nyahu has put Donald Trump's name forward
for a Nobel Peace Prize during a White House dinner Netnya,
who shared a letter with the US President which he
said he has sent to the Nobel Committee. A copy
of the letter shared to the Israeli PM social media
says President Trump has demonstrated steadfast and exceptional dedication to

(02:16):
promoting peace, security and stability, particularly in the Middle East.
Nobel Prizes are awarded annually to individuals who display outstanding
efforts in the fields of physics, chemistry, physiology, or medicine,
literature and peace. Recipients must be nominated by another person
or organization to be considered in his submission to committee

(02:39):
officials in Norway, netnya who also wrote quote, few leaders
have achieved such tangible breakthroughs to peace in such a
short time as Trump.

Speaker 1 (02:51):
And today's good news, A small South American country has
become the first malaria free region in the Amazon. Surinam
received formal certification from the World Health Organization recognizing the
milestone this month, joining a list of fewer than fifty
malaria free territories. To receive WHO certification, a country must

(03:13):
be able to prove it has not recorded a locally
acquired malaria case in at least three consecutive years. The
WHO said Surinam did what was needed to eliminate malaria quote,
detecting and treating every case quickly, investigating to prevent spread,
and engaging communities.

Speaker 2 (03:33):
That's the latest from the Dally Oos newsroom. If you're
looking for something else to listen to, you can check
out today's deep dive, where m and Lucy explained the
guilty verdict in the mushroom murder trial of Aaron Pattison.

Speaker 1 (03:45):
We'll be back tomorrow with another deep dive, but until then,
have a great eating.

Speaker 2 (03:54):
My name is Lily Maddon and I'm a proud Arunda
Bunjelung Calcottin woman from Gadigal country. The Daily oz acknowledges
that this podcast is recorded on the lands of the
Gadigal people and pays respect to all Aboriginal and torrest
Rate island and nations. We pay our respects to the
first peoples of these countries, both past and present,