RBA holds fire but rate rise still on the table | Oil spikes | Meta’s new AI model
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
07:26 Taxpayers have helped NBN improve its cash flow, as revenue improved and capital expenditure fell in the 2026 financial year
08:43 Meta CEO Mark Zuckerberg has intensified debate over whether AI should be restricted, urging lower U.S. barriers for open-source AI
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#RBA #InterestRates #MetaAI #OilPrices #ASX #OpenSourceAI
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