Overview
- The prime minister publicly criticised the Reserve Bank of Australia on Saturday, October 31st, calling its use of interest-rate rises a "blunt instrument" that damages people with mortgages.
- Markets and media continue to expect the RBA to raise the cash rate in the near term, with the PM’s remarks coming just before that widely reported decision window.
- The RBA sets the cash rate independently and higher rates directly increase monthly mortgage repayments for households which the PM said was causing financial strain.
- In sport coverage from the same day, Australia faces its biggest fourth-innings Test chase in 15 years on the final day of the third Test against South Africa, creating a tense finish for the series.
- Also on October 31st, Fiji and Tigers player Api Koroisau was forced out of his Rugby League World Cup match with a suspected broken jaw, a developing injury that will affect Fiji’s selection and in-game tactics.