Sydney desk

Filed from the Sydney desk — including multi-city pieces that also ran elsewhere.

Finance · 8 hrs ago

RBA hikes rates to 4.85% for fifth time, Bullock says ‘pain now’ prevents worse later

Vera Chen, Sydney desk

The Reserve Bank of Australia raised the official cash rate to 4.85%, the highest since 2008, marking its fifth consecutive hike. Governor Michele Bullock warned that a pinch today will spare market participants a bigger…

Finance · 9 hrs ago

Chalmers Calls Himself “Helpful” on Inflation While Shifting Rate‑Hike Blame to Weak Demand

Vera Chen, Sydney desk

At a post‑hike press conference, Treasurer Jim Chalmers pledged to be “helpful” on inflation but used weak public‑demand data to argue the government should not be blamed for the widely‑expected interest‑rate…

Politics · 9 hrs ago

Bullock says the economy feels like a recession; Chalmers now has the hot potato

Mabel Crowe, Sydney desk

RBA Governor Michele Bullock has admitted the economy feels like a recession, even though it isn’t officially one, and Treasury Minister Jim Chalmers is now expected to take the reins.

Finance · 11 hrs ago

Shares + Says Joins Australian Brokers Eyeing Anthropic Nasdaq Debut

Vera Chen, Sydney desk

Shares + Says is among the Australian brokerages signing up for Anthropic’s planned Nasdaq IPO after the AI firm hinted at a Wall Street listing earlier this month.

Politics · 11 hrs ago

High Court Questions Reddit Ban, Says Kids Too Busy for Politics

Rex Blister, Sydney desk

The High Court examined Reddit’s proposed social‑media ban for minors and suggested that children’s limited political engagement means the restriction would have little effect.

Finance · 11 hrs ago

RBA’s 18‑Year High Rate Hike Leaves Market Participants Counting Their Coins

Vera Chen, Sydney desk

The Reserve Bank of Australia raised the cash rate to its highest level in 18 years in a majority decision, sparking a flurry of budget revisions and tongue‑in‑cheek commentary about coffee machines and calculators.

World · 12 hrs ago

RBA lifts cash rate to 4.85%, sparking mortgage panic in Sydney

Priya Nair, Sydney desk

The Reserve Bank of Australia raised its cash rate to 4.85%, the fifth increase this year and an 18‑year high, prompting anxiety among borrowers. Inflation is expected to stay above 3% for the coming year.

Politics · 12 hrs ago

RBA board’s 6‑3 split over rate hike leaves Sydney’s coffee shops bracing for tighter wallets

Mabel Crowe, Sydney desk

The Reserve Bank of Australia’s board voted 6‑3 to raise rates to an 18‑year high, exposing a clear split and prompting dry humour from the Sydney desk.

Business · 12 hrs ago

David Jones to Close Up to Half Its Stores, Union Warns of Job Losses

Vera Chen, Sydney desk

The union representing thousands of David Jones staff is preparing for the worst after the department store chain announced plans to close up to half of its locations, highlighting the precarious state of the Australia…