Daily brief
The Reserve Bank of Australia has raised interest rates by 0.25 percentage points, its first increase since November 2023. The central bank cited persistent inflation as the reason for the move and signaled that further hikes could be on the horizon. Treasurer Jim Chalmers stated the decision was not his fault, while major banks began adjusting their rates in response.
Qantas will exit its Jetstar Japan joint venture to focus on domestic operations.
Businesses in Sydney's working harbour have expressed concern over a looming rezoning plan.