Headlines: RBA raises interest rates to 4.35%
5/5/20265 min
Today's headlines include:
- The Reserve Bank of Australia (RBA) has blamed ongoing global and domestic uncertainty for its decision to lift interest rates for a third straight meeting.
- National electric vehicle sales have surged to a new record for the second consecutive month.
- The U.S. and Iran have launched new attacks in the Persian Gulf as they wrestle for control over the Strait of Hormuz.
- And today’s good news: Eight-time world surfing champion Stephanie Gilmore has won the Gold Coast Pro, her first title since coming out of retirement.
Hosts: Emma Gillespie and Lucy Tassell
Producer: Rosa Bowden
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Transcript preview
First 90 secondsSpeaker 00:00
Today's podcast was made possible by our friends over at Odoo.
Emma Gillespie· Host0:03
[gentle music] From The Daily Aus, I'm Emma Gillespie.
Lucy Tassell· Host0:10
I'm Lucy Tassel.
Emma Gillespie· Host0:11
It's Tuesday the 5th of May. Here's what's making headlines this evening.
Lucy Tassell· Host0:15
The Reserve Bank of Australia has blamed ongoing global and domestic uncertainty for its decision to lift interest rates for a third straight meeting. The majority of the RBA board voted to lift the cash rate to 4.35%, with eight in favor of the hike and one voting to leave it unchanged at 4.1%. In announcing the rate hike, the RBA said inflation picked up in the second half of 2025. As the war in the Middle East continues, it noted, quote, "There are plausible scenarios where inflation is higher and activity lower than it had forecast." While the decision was widely expected, Federal Treasurer Jim Chalmers said, quote, "That doesn't make it any easier." The rate hike, he said, "will add to the pressure that families and businesses are under at a time of ongoing global instability." Chalmers is set to hand down the federal budget a week from today.
Emma Gillespie· Host1:13
National electric vehicle sales have surged to a new record for the second consecutive month. New data from the Federal Chamber of Automotive Industries shows one in every six new cars sold in April was electric. Petrol and diesel car sales