Good afternoon. The Reserve Bank of Australia has decided to cut the number of meetings that set the official interest rate to eight times a year, starting next February.
The RBA previously met 11 times a year, with Governor Philip Lowe announcing that the changes would give more time for the board to examine key issues in detail and have deeper discussions on monetary policy strategy.
Lowe also addressed the bank’s decision to leave the cash rate unchanged earlier this month, saying that it “remains to be determined whether monetary policy has more work to do”.
In other news, the neurosurgeon Charlie Teo has been reprimanded by a professional standards committee.
Top news
Partners at big consultancy firms fired for misconduct | A senate inquiry has been told that dozens of staff and partners at Australia’s biggest consulting firms have been fired for conduct breaches in the past two years. KPMG, Deloitte and EY disclosed the sackings for conduct that included integrity failures, dishonesty, bullying and sexual harassment.
Ben Roberts-Smith argues judge ‘cherrypicked’ evidence | The former soldier’s wide-ranging defamation appeal contests the judge’s finding that, on the balance of probabilities, the newspapers proved Roberts-Smith was complicit in four murders during his service in the SAS in Afghanistan. He argues Justice Anthony Besanko erred in his findings and that a soldier who provided key testimony should not have been regarded as an independent or reliable witness.
Wastewater analysis shows capital cities’ drug habits | The latest findings of the national wastewater drug monitoring report has found that Sydneysiders consume the most cocaine, Melburnians the most heroin, Darwin ranks highest for alcohol while cannabis is most popular in Hobart. The report also showed that illicit drug use in Australia jumped over summer, even after a string of high-profile drug busts.
Charlie Teo found guilty of unsatisfactory professional conduct | The neurosurgeon has been reprimanded by a professional standards committee which placed conditions on his registration. During a dramatic hearing earlier this year, Teo was accused of wrongdoing by misleading patients, conducting dangerous surgeries and failing to properly inform them or their families of the risks involved.
Anthony Albanese tries to ambush Sunak | The prime minister attempted to surprise his British counterpart, Rishi Sunak, with a picture of the controversial stumping of England wicketkeeper Jonny Bairstow in the Ashes cricket series. Not to be outdone, Sunak produced his own photo of England’s Mark Wood and Chris Woakes celebrating their win at Headingley on Sunday.
Indigenous man loses bid to access pension early | The federal court ruled Uncle Dennis, a Queensland-born Wakka Wakka man, did not have the right to apply for the age pension earlier on the basis of racial disadvantage. Uncle Dennis had argued that if retiring Indigenous men were expected to live for three years fewer than non-Indigenous men, then their pension age should be 64.
China delays decision on Australian barley tariffs | China has asked for an extra month to decide whether to scrap hefty tariffs on Australian barley, dashing hopes of an imminent breakthrough in one of the biggest trade disputes between the two countries. The Albanese government said it was disappointed by the delay, and warned that it was ready to revive its case at the World Trade Organization if Beijing doesn’t scrap the measure by August.
Elderly couple die in Sydney house fire | An 81-year-old man and a 75-year-old woman have died after being pulled from a “thick and intense” house fire in Sydney’s west early on Wednesday morning. Neighbours tried in vain to rescue the couple from the home, which emergency responders said did not have active smoke detectors and was difficult to access.
Cause of California landslide still a mystery | Three days after a landslide destroyed a dozen hillside homes in southern California, it’s still unclear what caused the disaster. Sixteen people have been displaced since the land between the homes began shifting and sliding over the weekend.
What they said …
“I was, in some cases, just simply helping out a friend or a colleague.”
Former Qantas pilot Nathaniel Whitehall, 55, was fined $4,500 and served a one-year good behaviour order after pretending to be a lawyer to change the direction of his life.
Before bed read
An algorithm has come up with the “best” expletive ever, and it definitely makes for interesting reading.
Sophie Maclean, an MSc mathematics student studying at King’s College London, wrote a code that she says has created the world’s best swearword, by reading a list of existing swearwords and spitting out its new favourite.
Daily word game
Today’s starter word is: LAMB. You have five goes to get the longest word including the starter word. Play Wordiply.
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