RBA holds fire but rate rise still on the table | Oil spikes | Meta's new AI model

By SBS News

Community Score: 50% | 132 views | 6d

0 community ratings: null thumbs up, null thumbs down

The Reserve Bank of Australia has kept interest rates on hold at 4.35%, but Governor Michele Bullock says inflation still remains too high and that the board is willing to do anything, including raise rates, to bring it back under control; oil prices have surged to nearly US$90 as hopes fade of a US-Iran deal; and Meta CEO Mark Zuckerberg calls for lower US barriers for open-source AI, claiming it would help the country better compete with China, as Meta releases a new open-source AI model called Muse Glimmer. 00:00 As expected, the RBA kept the cash rate on hold for a second consecutive meeting 01:42 Today's decision to keep rates on hold has driven a fresh debate over the government's housing tax changes 04:22 Governor Michele Bullock says the board will do what it considers necessary to bring it back within target - including further rate hikes 05:43 The Australian sharemarket rose sharply following the RBA's decision 06:32 The rate hold softened the Australian dollar slightly 07:2

Tags: sbs news australia, sbs world news, Australia, sbs world news live, rena sarumpaet, On The Money, finance news, RBA interest rates, RBA cash rate hold, Michele Bullock inflation, Australia interest rates 2025, rate hike Australia, Australian dollar, ASX sharemarket, oil prices surge, US Iran deal oil, Meta AI model, Muse Glimmer Meta, Zuckerberg open source AI, Meta China AI competition