Headlines: RBA cuts interest rates to 3.6%

Today's headlines:

The Reserve Bank of Australia (RBA) has cut the cash rate to 3.6%, down from 3.85%.

The Coalition has confirmed it will revoke Australia’s recognition of Palestinian statehood if elected. 

A Colombian presidential candidate shot during a political rally has died after two months in hospital.

And today’s good news: A rubber duck race known as the ‘Chicago Ducky Derby’ has raised more than $AU660,000 for Special Olympics Illinois.

Hosts: Emma Gillespie and Lucy Tassell
Producer: Emma Gillespie

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Episode Transcript

Speaker 1 (00:05):
From the Daily Os. I'm Emma Gillespie, I'm Lucy Tassel.
It's Tuesday, the twelfth of August. Here's what's making headlines
this evening.

Speaker 2 (00:14):
The Reserve Bank of Australia has cut the cash rate
to three point six percent, down from three point eighty
five percent. The cash rate is what the RBA charges
banks for short term loans. It affects how much interest
banks charge customers on their loans, for example, mortgages, which
is why the figure is also referred to as interest rates.
The Central Bank called its decision to cut rates by

(00:36):
twenty five points quote appropriate as it forecasts inflation will
continue to moderate. However, the RBA said it remains cautious
as quote uncertainty in the world economy remains elevated. It
comes after last month's surprise decision to keep the cash
rate on hold. At the time, the RBA said it
needed to wait for a little more information.

Speaker 1 (01:00):
Has confirmed it will revoke Australia's recognition of Palestinian statehood
if elected. The opposition said it has serious concerns with
Prime Minister Anthony Alberanese's plan to recognize the state of
Palestine at a meeting of the UN General Assembly next month.
Opposition leader Susan Lee said recognizing Palestinian statehood quote without

(01:20):
a proper peace process won't expedite the end of the conflict,
deliver a two state solution, see the free flow of aid, support,
the release of hostages, nor put an end to the
terrorist group Hamas. Senior opposition figures have now agreed to
oppose the government's decision and revoke it if the coalition
forms government. Albanesi has defended Labour's plan and re emphasized

(01:43):
the need to quote, isolate and disarm Hamas. He said
the international community is saying enough is enough. We need
to move forward, and Israelis and Palestinians will benefit from that.
French President Emmanuel Macron has welcomed Albanesi's decision, which follows
similar deaths larations by the UK and Canada.

Speaker 2 (02:04):
A Colombian presidential candidate shot during a political rally has
died after two months in hospital. Senator Miguel Aribe, a
member of a right wing party in Colombia, was shot
in the head and leg at a campaign event in
the capital of Bogata on the seventh of June. Doctors
performed multiple surgeries on the thirty nine year old during
his nine weeks in intensive care. However, Oribe's wife confirmed

(02:28):
his death on Monday in a social media post, thanking
her late husband for quote a life full of love
and for being the best father. The alleged gunman, a
fifteen year old boy, is among seven people who have
been arrested in relation to the shooting. The teenager has
pleaded not guilty to one count of attempted murder.

Speaker 1 (02:48):
And Today's Good News. A rubber duck race known as
the Chicago ducky Darby has raised more than six hundred
and sixty thousand Aussie dollars for Special Olympics Illinois. Than
not for profit, it aims to quote transform the lives
of people with intellectual disabilities, empowering them to realize their
full potential in sports and in life. It's annual ducky

(03:09):
Derby attracted more than eighty thousand participants this year, who
each paid ten US dollars to adopt a rubber duck.
Hunters watched their ducks being dumped into the Chicago River
for the thirty minute race before each and everyone was
collected by volunteers and staff Throughout the river. Once collected,
the ducks are washed and packed up to head to

(03:30):
their next derby. Special Olympics Illinois thanked everyone who quote
adopted a duck, showed up, cheered loud, and helped us
celebrate twenty years of racing for inclusion.

Speaker 2 (03:41):
That's the latest from the Daily oz newsroom. If you're
looking for something else to listen to, you can check
out today's deep dive on Australia's decision to recognize Palestinian statehood.

Speaker 1 (03:51):
We will be back tomorrow with another deep dive, but
until then, have a wonderful evening.

Speaker 2 (03:58):
My name is Lily Maddon and I'm a proud Arunda
Bunjelung Calkatin woman from Gadighl Country. The Daily oz acknowledges
that this podcast is recorded on the lands of the
Gadighl 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.