Latest / NewsCard® Australia Daily News / RBA raises rates to 4.85%, home values fall, High Court hears social media ban
Transcript
- [warm] This is NewsCard Daily for Wednesday November 4, 2026 ... the biggest stories from Australia and around the world in just minutes. — — [serious] We begin in Canberra where the Reserve Bank raises interest rates to four-point-eight-five per cent ... the highest level since the global financial crisis. It is the fifth increase this year, as policymakers try to contain stubborn inflation and pressure on the economy. Mortgage holders face higher repayments, while the Treasurer insists the government is taking responsibility for the fight against rising prices. — — [serious] In the housing market, the downturn is gathering pace. National home values fall another one-point-two per cent in October ... down six-point-seven per cent since March. More than sixty-three thousand dollars is wiped from the average property price. Australia’s biggest home lender warns prices could fall fourteen per cent from their peak before stabilising late next year. — — [curious] In Melbourne, the High Court begins hearing challenges to Australia’s under-sixteen social media ban. The law blocks children from holding accounts on major platforms, including Facebook, TikTok and YouTube. The challengers argue it limits political communication rights. The government says the measure protects young people from online harm. The court’s decision could shape digital rights for families and technology companies. — — [serious] At the Commonwealth leaders’ meeting, Prime Minister Anthony Albanese warns that climate change poses an existential threat to low-lying island nations. He is urging stronger action as Pacific countries face rising seas, harsher weather and growing pressure on homes, food supplies and national security. For Australia, the message carries regional weight ... and diplomatic consequences. — — [urgent] Meanwhile, political tensions rise after an alleged attack on a One Nation campaign volunteer in Victoria. The volunteer is reportedly seriously injured while protecting party signs. Police are investigating, as leaders condemn political violence and call for restraint during a heated campaign period. — — [curious] Overseas in Europe, supermarkets face a major cyberattack that disrupts operations and raises fresh concerns about the vulnerability of essential services. The incident highlights how quickly digital attacks can affect ordinary households ... from food supplies to payments and logistics. Governments are under growing pressure to strengthen defences. — — [serious] And in the United States, political leaders confront another sharp dispute over power and accountability, as debate intensifies around a proposed presidential pardon involving Elon Musk. The controversy adds to concerns about democratic institutions, political influence and the limits of executive authority. — — [hopeful] That’s NewsCard Daily. For more top stories and quick summaries that keep you informed in minutes, download NewsCard ... available in the App Store.