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RBA boss Bullock warns of further rate raises · The Front

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  Speaker 1: Today's biggest news from the Australian Unclair Harvey with the
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  Speaker 1: front's afternoon headlines It's happening again. Reserve Bank boss Michelle
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  Speaker 1: Bullock says interest rates are likely going up. Bullock says
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  Speaker 1: households and businesses must slow their spending because it's putting
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  Speaker 1: too much upward pressure on inflation. She says unemployments not
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  Speaker 1: high enough and nor is productivity growth, and it's all
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  Speaker 1: contributing to prices rising. The Bank's job is to keep
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  Speaker 1: inflation in a two to three percent band on average
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  Speaker 1: over time, and we're not there, even despite Australians feeling
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  Speaker 1: squeezed from every side as the Iran War drags on
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  Speaker 1: and everything gets more expensive. Annual inflation is presently four
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  Speaker 1: percent for the year to May, and the trimmed mean,
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  Speaker 1: which is the RBA's preferred inflation number, is at three
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  Speaker 1: point six percent. The official cash rate is four point
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  Speaker 1: three five percent, and although the Bank held that rate
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  Speaker 1: steady at its last meeting, the board meets again on
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  Speaker 1: August eleven, and bullock statements on Tuesday are a big
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  Speaker 1: warning sign that they might decide to hike the raid again.
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  Speaker 1: Ben Carroll is officially Victoria's new premium and he has
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  Speaker 1: exactly one hundred and twenty three days to turn around
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  Speaker 1: disastrous polling numbers and fend off the popular opposition leader
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  Speaker 1: and One Nation Carol Is from Labour's right faction, and
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  Speaker 1: his first move was to call a Royal commission into
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  Speaker 1: the state's construction sector, which has been riven by allegations
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  Speaker 1: of corruption involving the construction, forestry, mining and energy union.
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  Speaker 1: Former Premier Jacinta Allen, from Victorian Labour's dominant left faction,
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  Speaker 1: had refused to call the Royal commission, and eventually her
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  Speaker 1: colleagues decided something had to give. Alan did save the
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  Speaker 1: party a damaging weeks long ballot process by resigning on
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  Speaker 1: Tuesday morning. Here's Ben Carroll today.
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  Speaker 2: We are saying enough is enough. In my government, integrity
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  Speaker 2: will not be optional, whether in business politics or the
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  Speaker 2: union movement. There will be zero tolerance for those that
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  Speaker 2: misuse their positions. That is why my first action as
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  Speaker 2: Premier will be to call a Royal commission into the
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  Speaker 2: construction sector. We will also immediately establish a special prosecutor
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  Speaker 2: that we're work in parallel with the Royal Commission.
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  Speaker 1: We did a full post mortem on the Jissinto Allen
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  Speaker 1: Premiership on the Front on Tuesday morning. Check it out
• 2:43
  Speaker 1: by scrolling back through your feed, plus come back to
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  Speaker 1: the Front first thing in the morning for our review
• 2:49
  Speaker 1: of Kyle Sandland's bold new venture, an app he hopes
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  Speaker 1: you'll want to download for your daily dose of the
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  Speaker 1: uncensored radio that made him a superstar and got sat
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  Speaker 1: Catch you right here Wednesday morning,