Latest / NewsCard® Australia Daily News / RBA rate rise expected, housing downturn deepens, storm hits NSW
Transcript
- [warm] This is NewsCard Daily for Monday November 2, 2026 ... the biggest stories from Australia and around the world in just minutes. [serious] We begin in Canberra where pressure is building on the Albanese government ahead of tomorrow’s Reserve Bank decision. The RBA is widely expected to lift interest rates from four-point-six to four-point-eight-five per cent ... the fifth increase this year. Ministers are also searching for spending cuts as inflation remains stubborn and household budgets tighten. — — [serious] Across Australia, the housing downturn is deepening. National home values fall one-point-two per cent in October ... the seventh straight monthly decline. Researchers say the pace is the fastest in four decades. Brisbane, Perth and Sydney are among the hardest hit. Fewer homes are selling, auctions remain weak, and buyers are holding back as borrowing costs rise. — — [urgent] In New South Wales, a violent storm tears through the Southern Tablelands near Yass. Roofs are ripped from buildings, trees are brought down and large hail damages property. Emergency crews are assessing the damage ... with residents warned to stay away from fallen powerlines and debris. — — [serious] In Perth, two sixteen-year-old boys die after a stolen car crashes in the city’s north-east. The tragedy renews concern about youth crime, dangerous driving and the risks linked to stolen vehicles. Police are investigating the circumstances surrounding the crash, as families and the local community mourn. — — [curious] Now to politics ... new polling shows Labor’s primary support at twenty-seven per cent, near its lowest level since Anthony Albanese became prime minister. The Coalition sits on twenty-one per cent, while One Nation records a strong result. The prime minister is overseas at the Commonwealth Heads of Government Meeting ... but the focus at home remains firmly on rates, prices and the government’s economic record. — — [serious] Overseas, Australia’s economic pain reflects a wider challenge ... central banks are trying to contain inflation without pushing families and businesses into recession. Higher rates are squeezing mortgages, investment and spending. For Australians, that means tomorrow’s decision matters directly ... from home loans to rents, jobs and the cost of living. — — [warm] That's NewsCard Daily. For more top stories and quick summaries that keep you informed in minutes, download NewsCard ... available in the App Store.