Afternoon Report | ASX edges higher ahead of RBA
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What is the main topic discussed in this episode?
Welcome to the Fear and Greed Business News Afternoon Report for Monday, the 28th of September, 2026. I'm Michael Thompson, and every afternoon we have the five stories that happened today that you need to know about. Let's go.
What did the ASX 200 do today and which sectors led the gains?
Story number one: the SP ASX 200 rose 0.2% today to 8,680 points ahead of tomorrow's Reserve Bank interest rate decision. Healthcare, utilities, financials led the gains. Today, ANZ and Westpac both climbed 1.5% or so. So did NAB. Commonwealth Bank added half of 1%. Macquarie jumped more than 2% after RBC initiated coverage with an outperform rating. I mentioned healthcare, CSL was up almost 3%. Cochlea closed 2% higher. The gains today came despite another rise in bond yields and oil prices.
How are rising bond yields and oil prices affecting Australian miners and gold stocks?
Brent crude. Is trading at almost $108 U.S. dollars dollars a barrel after U.S. President Donald Trump rejected Iran's latest proposal, latest proposal rather, to reopen the Strait of Hamuz. Miners and gold stocks today were among the losers. A lower copper price dragged BHP and Rio Tinto down more than 1% each, while a drop in the price of gold saw Genesis and Vault minerals both close nearly 6%. Lower, and Newmont nearly 2.5% down. Elsewhere, three ASX listed funds managed by private lender Metrics credit partners were placed in trading halts.
What are economists predicting for the RBA’s cash rate after tomorrow’s decision?
Today, this is just days before a deadline to release audited annual accounts. On to story number two now, and I mentioned the Reserve Bank board meeting tomorrow. It's happening today and tomorrow, but of course we get the rate decision tomorrow afternoon, and interest rates could actually rise. rise a full percentage point from here, according to one of Australia's More hawkish economists. Warren Hogan from EQ Economics expects the RBA to lift the cash rate from 4.35 to 4.6% tomorrow. So that's a 25 basis point increase. But then another increase to come on Melbourne Cup Day. He doesn't think, though, that that will be the end of it. Hogan says the RBA may need at least four quarter point increases and is forecasting a cash rate of 5.3%.
Why did Virgin Australia cancel over 30,000 passenger flights and what is the airline doing now?
Financial markets have fully priced in that rate rise tomorrow. Currently expect the cash rate to reach 5% by May. But Hogan's view is that a couple of hikes before Christmas would put more pressure on the property market and household budgets, helping slow the economy heading into 2027. Story number three, Virgin Australia is still trying to get passengers home after a weekend of major flight disruption, which affected more than 30,000 people. According to an internal airline report seen by the Australian, more than 40 flights were canceled over the weekend and more than 100 delayed. Virgin says 34 flights were canceled on Sunday alone, on top of 16 on Saturday. Uh bad weather in Melbourne caused the initial disruption, but that flowed into crew shortages as some cabin crew reached their maximum allowable duty hours.
Virgin is also negotiating a new enterprise agreement with cabin crew. They're pushing for better paying conditions and shorter duty hours. The airline says, though, in the meantime, it is adding extra services to get affected passengers to their destinations.
Why did Mike Baird resign as chair of Cricket Australia and what’s next for the BBL clubs?
Story number four: former New South Wales Premier Mike Baird has resigned as chair of Cricket Australia after losing the support of Cricket New South Wales over plans to sell Big Bash League clubs. Batsman David Boone will become interim chair at Cricket Australia's AGM next month, while a long-term replacement is found. Baird and Cricket New South Wales had been at odds over the push to bring private investment into the Big Bash. Cricket Victoria is moving to sell 100% of the Melbourne renegades while other states are considering their options. Baird says he hopes his departure will help reset relations between. Cricket Australia and the states, but he continues to back the decision to allow states to pursue sales of their BBL clubs.
And finally, story number five: British counter-terrorism police have arrested five men on suspicion of preparing a terrorist act near an Air Force base used by the United States for operations against Iran.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:03–0:15
2
What did the ASX 200 do today and which sectors led the gains?
0:15–0:52
3
How are rising bond yields and oil prices affecting Australian miners and gold stocks?
0:52–1:28
4
What are economists predicting for the RBA’s cash rate after tomorrow’s decision?
1:28–2:14
5
Why did Virgin Australia cancel over 30,000 passenger flights and what is the airline doing now?
2:14–3:20
6
Why did Mike Baird resign as chair of Cricket Australia and what’s next for the BBL clubs?
3:20–4:38
7
What happened at RAF Fairford with the suspected terrorist plot and why is it significant?
4:38–5:12
Speakers
1 identifiedMore from FEAR & GREED | Business News
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