Good morning. The RBA’s decision to increase the official interest rate to 0.35% surprised many economists. One described it as “a radical revision” and said “the RBA has completely changed their view on the outlook for inflation”. It also raises questions over what lies next for the already plateauing property market. Meanwhile in NSW, thousands of teachers will go on strike today over pay and workload.
The ALP has held the NSW seat of Hunter – where coal is king – at every election since 1910. But with seismic changes under way, the valley’s miners are eyeing the future with unease. Both the Coalition and Labor are telling the Hunter some variation of “if the world wants to buy our coal, we’ll sell it”, but both sides also spruik the Hunter as a potential global hub for clean energy, hydrogen, green steel and aluminium. If you’re looking to hear more from Scott Morrison and Anthony Albanese head to head, you’ll have to wait until after Big Brother on Channel Seven next Wednesday, as the PM snubbed an offer by the ABC for a debate in an earlier time slot.
