Afternoon Update: PM dismisses push to cap negative gearing; Wellington hostel fire; and video of US guard killing trans man

As Labor backbenchers pushed for a more ambitious housing policy, the prime minister said ‘the government’s position [on negative gearing] is very clear.’ Photograph: Jessica Hromas/The Guardian

Good afternoon. Labor backbenchers are pushing party leaders to commit to a more ambitious housing policy, including capping negative gearing to one property.

The call comes amid anxiety among Labor ranks that the party could bleed young inner-city voters to the Greens unless it takes a bolder approach on housing. Separately, it was revealed today that higher rents played a role in the Reserve Bank’s surprise decision to hike interest rates this month, with warnings of more rises to come.