Australia news live: Chalmers defends record as RBA’s cash rate decision due
Summary
Australia saw 30 drowning deaths in 2025-2026, the highest number in nearly ten years, with many related to boating and floodwater incidents. Treasurer Jim Chalmers defended his economic record just before the Reserve Bank of Australia (RBA) is expected to raise interest rates again to tackle inflation, while Greens leader Larissa Waters resigned due to health issues.Key Facts
- There were 30 drowning deaths in Australia during 2025-2026, the highest since 2016-2017.
- Most drowning victims (83%) were men; 37% were born overseas; 25% were aged 65-74.
- About one-third of drownings involved boating, with others linked to driving through floodwater and swimming.
- Treasurer Jim Chalmers defended his record ahead of the RBA’s expected fourth interest rate increase in 2026, raising the cash rate from 4.35% to 4.6%.
- The expected hike could push home loan interest rates to around 6.5%.
- Inflation remains a major concern for the Australian economy, influenced by global events, including conflict in the Middle East.
- Greens leader Larissa Waters stepped down due to worsening kidney disease.
- The RBA’s interest rate decision and political leadership changes are key news stories for Australia currently.
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