Latest / Best of Business / Murray Olds: Australian correspondent on the RBA cutting the OCR to 4.1 percent

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Murray Olds: Australian correspondent on the RBA cutting the OCR to 4.1 percent · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks be follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:17
  Speaker 1: International Correspondence with Ends and Eye Insurance, Peace of Mind
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  Speaker 1: for New Zealand Business.
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  Speaker 2: Murray Alders with US Australia Correspondent. You'll be dancing with
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  Speaker 2: the RBA decision. Murray.
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  Speaker 3: Well, yes, very good afternoon, Ryan. A lot of people
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  Speaker 3: will be very happy. I mean, there's not a lot
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  Speaker 3: of money. If you've got a six hundred thousand dollars
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  Speaker 3: mortgage over here, it'll cut your repayments by about one
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  Speaker 3: hundred bucks a month. But since the bank began lifting
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  Speaker 3: rates before the twenty twenty two election, repayments on that
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  Speaker 3: same mortgage have risen by nearly fifteen hundred bucks a month.
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  Speaker 3: So you're going to be saving one hundred down off
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  Speaker 3: that high of fifteen hundred. I mean this interest a
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  Speaker 3: big your pardon. The official cash rate over here was
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  Speaker 3: at a thirteen year high, and it's been there for
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  Speaker 3: you for four years. It's been a long, long long time.
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  Speaker 3: Just about every economist over here said the Board would
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  Speaker 3: cut rates. Inflation was easy significantly. The December quarter was
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  Speaker 3: two point four. That was the annual rate the underlying
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  Speaker 3: rate of inflation, which is the one the Reserve Bank
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  Speaker 3: looks at most closely because it strips out all the
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  Speaker 3: volatile things. That was three point two, marginally outside the
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  Speaker 3: two to three percent band the reserve banks looking for.
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  Speaker 3: So yes, interest rate cuts on the way here. It
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  Speaker 3: won't be the first this year, That's what they're all saying.
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  Speaker 3: Anthony alb An easy, very happy. Indeed, it's a bit
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  Speaker 3: of a spring in his step given the awful opinion
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  Speaker 3: polls of recent days. And you know, for I suppose sentiment,
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  Speaker 3: I mean, the country has been flatters attacked, notwithstanding good
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  Speaker 3: job figures, and a lot of people have been balancing
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  Speaker 3: on on a knife's edge around the kitchen tables of
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  Speaker 3: the country. So this is good news, no doubt about it.
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  Speaker 2: Yeah, absolutely intated first in a very long time, this
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  Speaker 2: video that then we would lead our news actually led
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  Speaker 2: our six o'clock views over here in New Zealand of
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  Speaker 2: the Sydney nurses who were, oh, you will just let
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  Speaker 2: the Israelis die basically or even you know, kill them,
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  Speaker 2: kill them in hospital. And you've had some blowback from
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  Speaker 2: Muslim groups, Well we have.
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  Speaker 3: I don't know what you thought I saw that video,
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  Speaker 3: and I saw it the number of times it felt
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  Speaker 3: sick in the guts. But they looked like a couple
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  Speaker 3: of young, dumb buffheads who were almost showing off to
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  Speaker 3: each other and trying to hit this Israeli guy who
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  Speaker 3: was playing him like a fiddle. That was my initial take.
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  Speaker 3: Having said that, I mean it was disgraceful, the fet
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  Speaker 3: the governments of all levels. We're busy slapping these kids silly,
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  Speaker 3: and you know they've been Sackeder's nurses won't work in
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  Speaker 3: New South Wales again, so predictably, almost there's a coalition
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  Speaker 3: of Australian Muslim groups who have said this is all
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  Speaker 3: about manufactured outrage on the part of those that were
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  Speaker 3: upset by the video. These Muslim groups have put out
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  Speaker 3: a statement saying, quote it condemns the hypocrisy over the video.
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  Speaker 3: Where I'm here, it's calculated, politically motivated outrage. It's not
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  Speaker 3: a failure consistency. It's the deliberate engineering of public morality,
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  Speaker 3: the frustration and anger directed at Israel, because of course
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  Speaker 3: that's what the nurses were saying. We don't like Israel
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  Speaker 3: and Israelis will be killed or targeted if they come
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  Speaker 3: into my hospital bedrooms. The frustration and anger directed in
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  Speaker 3: Israel's a direct response to Israel's violent and inhumane policies.
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  Speaker 3: It's not an expression of hatred, of hatred towards Jewish people. Well,
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  Speaker 3: you can split heres and you're like, this is going
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  Speaker 3: to go down like a lead balloon just about everywhere.
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  Speaker 3: It's it's almost sad in a way that these bisonm
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  Speaker 3: grips have felt compelled to come out and say these things.
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  Speaker 3: I don't forget one of them. His book Tahia is
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  Speaker 3: actually banned in the UK. It's on the edge. It's
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  Speaker 3: pretty extreme. So this is, as you say, blowback Ryan
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  Speaker 3: from the outrage it was expressed a week ago.
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  Speaker 2: You've got this. We have this problem here too, the
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  Speaker 2: e bikes and the scooters catching fire because of the batteries.
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  Speaker 2: But quite a bad one in west of Sydney.
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  Speaker 3: H dreadful night. While earlier this morning six o'clock, there
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  Speaker 3: were six young people in a rented property in the
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  Speaker 3: western suburbs of Sydney at Guilford. They think it's an
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  Speaker 3: e scooter. They have to do more forensic testing of
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  Speaker 3: the of the house, what's left of the house, but
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  Speaker 3: five of the residents got out alive. It looks like
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  Speaker 3: the sixth a young man was trapped in his bedroom
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  Speaker 3: and the dreadful feeling is that perhaps he was charging
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  Speaker 3: his e scooter in the bedroom the things caught fire.
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  Speaker 3: What fire and safety offices over here fire fighters have
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  Speaker 3: been saying for months and months and months. It's like
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  Speaker 3: a thermal runaway fire. It's not something you can put
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  Speaker 3: out with a cup of water. This thing takes on
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  Speaker 3: a life of its own and you simply can't put
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  Speaker 3: them out. And if the scooter that's blazing away is
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  Speaker 3: between you and the only door out of the room,
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  Speaker 3: it's not going to end well for you. And so
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  Speaker 3: that's why they're saying, if you're going to charge these things,
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  Speaker 3: charge them outside, Charge them, not in a exit route
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  Speaker 3: out of the home, out of the property where you are.
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  Speaker 3: It's the third death in New South Wales that's now
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  Speaker 3: being attributed to these things. But have a listening to this.
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  Speaker 3: Three fires and Sidney in the last twenty four hours,
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  Speaker 3: well of them fatal, twenty eight fires and ten injuries
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  Speaker 3: this year alone, and more than three hundred e scooter
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  Speaker 3: or e bike fires last year. But it's not just
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  Speaker 3: big batteries. There's one thousand files a month last year
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  Speaker 3: from electric toothbrushes, from things like Knny's toys. They've got
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  Speaker 3: these batteries in they go out in the recycling and
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  Speaker 3: in the rubbish and they're catching fire in rubbish recycling
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  Speaker 3: centers or in the back of rubbish trucks. It's a
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  Speaker 3: very big problem. Not sure how they're going to deal
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  Speaker 3: with it.
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  Speaker 2: To be frank, no, it sounds like it's getting a
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  Speaker 2: little out of hand. Murray, thank you for that. Murray
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  Speaker 2: Olds are Australia correspondent with US just confirming the RBA
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  Speaker 2: has cut their first time since twenty twenty, that the
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  Speaker 2: Reserve Bank of Australia has cut their official cash right
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  Speaker 2: over there. We're expecting ours of course tomorrow. We'll have
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  Speaker 2: Brad Olsen on that after sixth this evening.
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