Tuesday: It’s the only day that begins with a “T” and then ends with you weeping into a bowl of ice cream. However, it’s not 5:00 PM yet, meaning there’s still plenty of time before your routine scheduled breakdown. So, in the meantime, why not learn about today’s headlines?
Interest Rates Go Up For a Sixth Consecutive Time
In news that might make your wallet scream, interest rates are going up again. The Reserve Bank of Australia is bumping up the cash rate by 25 basis points to 2.6% and the Exchange Settlement by 25 points to 2.5%. This is the sixth time in a row this number has climbed higher.
“Inflation in Australia is too high,” stated the Governor of the RBA, Philip Lowe.
Additionally, Lowe claimed, “Today’s further increase in interest rates will help achieve a more sustainable balance of demand and supply in the Australian economy. This is necessary to bring inflation back down.”
It’s worth noting that this situation isn’t as ouchie as a 50-point surge that many economists predicted would happen. However, this increase will still hurt a lot of Aussies.
“Australians with a $500,000 mortgage will be forking out $735 more per month compared to what they were paying in April,” explained Finder’s Head of Consumer Research, Graham Cooke.
“That’s a whopping amount of extra money to pay every month,” Cooke also noted, “Especially when everyday items like groceries and petrol are skyrocketing in price.”
Victorian Liberals Are Struggling
It’s a bad day to be a senior Victorian Liberal. For the Herald Sun has outlined that a whack of them have just been fired. These individuals have been booted because the overall party wants to have a better chance of winning November’s state election, after years of internal politics and pandemonium.
But this firing spree wasn’t a series of magic bullets. As a senior Liberal explained, “Six weeks out from polling day and the wheels are completely careering off the campaign.”
They also commented, “MPs are out there fighting their own battles now and basically ignoring the mess that is HQ and who can blame them.”
However, party officials reckon they still have a chance of beating Daniel Andrews. And whether or not this hope is founded is yet to be determined by VIC’s voters.
The Federal Government Rejigs Its Threatened Species Plan
In a huge win for numbats and rock-wallabies alike, the Labor Gov has promised it’ll do more to save our endangered critters. According to the ABC, they have promised 30% of our land will now be used for conservation. Moreover, these folks are aiming to save our local flora and fauna from extinction.
The Environment Minister, Tanya Plibersek, has admitted that this plan sets the bar very high. Plibersek stated, “It is a very ambitious thing to have a goal of zero extinctions when we have had catastrophic natural events like the Black Summer bushfires, proceeded by drought, and followed by flood.”
However, she also said, “It is important to set this goal because it means we focus our efforts in protecting the animals, plants, and landscapes that are particularly vulnerable.”
This move was welcomed by Nature Conservancy Australia’s Alison Rowe. She noted, “Protecting our habitat, and our grasslands and forests can actually go towards reducing a third of emissions.”
Ukraine Keeps on Taking Back Its Stolen Territory
The Guardian has reported that Russia has been dealt another blow in its unjustified war against Ukraine. This is because Russia no longer has complete control of the four provinces it annexed. It’s believed that Ukraine has made huge gains in recapturing its land in both the west and the east of the conflict.
“When the Ukrainian flag is returned, no one remembers the Russian farce with some pieces of paper,” recently declared the President of Ukraine, Volodymyr Zelenskyy.
“Except, of course, the law enforcement agencies of Ukraine. Because everyone who is involved in any elements of aggression against our state will be accountable for it.”