Headlines: More rate hikes possbile, RBA boss warns
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What is the main topic discussed in this episode?
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Who are today's hosts and what headlines will they cover?
From The Daily Aus, I'm Emma Gillespie. I'm Lucy Tarsal. It's Tuesday the 28th of July. Here's what's making headlines this evening.
Ben Carroll has been elected Victorian Labor leader and incoming Premier after Jacinta Allen announced her resignation this morning.
Why did Ben Carroll become Victoria's incoming Premier and how did the leadership change unfold?
On Monday, Carroll, previously Allen's deputy, declared his party had lost confidence in the Premier and that he would nominate for the leadership. A spill motion was scheduled for Tuesday morning, but Allen stood down ahead of the vote. Carroll was expected to have a clear run at the leadership, but Attorney-General and Planning Minister Sonia Kilkenny put herself forward at the last minute. This would have triggered a weeks-long process involving votes of Labor MPs and the broader party membership, a process that Allen had sought to avoid by resigning. Kilkenny dropped her nomination a short time later and Carroll was, quote, unanimously endorsed by the State Parliamentary Labor Party and as our next Premier of Victoria, State MP Julianna Addison told reporters.
Alan is yet to confirm if she'll remain in Parliament after serving as the Member for Bendigo East since 1999.
Dangerous weather is hampering the search for a two-month-old baby in waters off South Australia. Police located an abandoned car with its engine still running near Port Macdonald in the state's southeast on Monday. The bodies of a 36-year-old mother and toddler were recovered in the ocean nearby a short time later. Police hold grave fears for a second infant who remains missing. Multiple emergency agencies are assisting SA police in the search for the baby, which resumed in rough seas on Tuesday afternoon. State Emergency Service duty officer Ian Bonathan said responders had encountered, quote, very dangerous conditions, adding, we have a drone down there, but it's unable to fly because of high winds.
What is the latest on the search for the missing two-month-old and how are emergency services responding?
Investigators said there's no information at this time to suggest that anyone else was involved in the incident. And if you or anyone you know needs help, you can contact Lifeline for 24-7 crisis support on 13 11 14.
The head of the Reserve Bank has warned more rate hikes may be needed to get inflation under control as the Middle East oil crisis risks pushing prices ever higher. Speaking at an event in Sydney, RBA Governor Michelle Bullock acknowledged conditions have eased slightly since May, but she said inflation is still too high. Australia's central bank has lifted rates three times since February. Bullock said a quote key question in the period ahead is whether the tightening in monetary policy earlier in the year is sufficient. She added the board is prepared to act as required, including by increasing the cash rate further if needed. Federal Treasurer Jim Chalmers said the re-escalating conflict in the Middle East posed a substantial threat to global inflation.
The RBA board will hand down its next rate decision on the 11th of August.
And today's good news, astronomers have detected a planet 48 light years away that could be capable of harboring life. Harvard University scientists discovered the rocky planet surrounded by an Earth-like atmosphere in the habitable zone of another star. While other studies have found rocky planets, this is the first time the presence of an atmosphere has been clearly demonstrated. Lead author Colin Cherubim said an atmosphere is essential for a planet to support life as we know it.
Why does the RBA boss warn more rate hikes may be needed and how could the Middle East oil crisis affect inflation?
The breakthrough is the strongest evidence yet that worlds with similar conditions to Earth could exist beyond our solar system, with the findings described as a major milestone in the search for life on other planets.
That's the latest from the Daily Oz Newsroom. If you're looking for something else, you can catch up on this morning's Deep Dive where we explain why there's a conversation in one state about a push to ban street auctions.
We'll be back tomorrow with another Deep Dive, but until then, have a good one.
Before we go, today's episode is supported by Updoc.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:08
2
Who are today's hosts and what headlines will they cover?
0:08–0:25
3
Why did Ben Carroll become Victoria's incoming Premier and how did the leadership change unfold?
0:25–1:56
4
What is the latest on the search for the missing two-month-old and how are emergency services responding?
1:56–3:30
5
Why does the RBA boss warn more rate hikes may be needed and how could the Middle East oil crisis affect inflation?
3:30–4:03
6
What did astronomers discover about a potentially habitable planet 48 light‑years away?
4:03–4:28