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- The RBA’s economic path narrows
- Hawkei armoured cars bound for Ukraine war in Australian support deal
- PM says two Australians detained in Vietnam granted clemency
- This morning’s headlines at a glance
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The RBA’s economic path narrows
The Reserve Bank’s hopes of navigating the economy down a narrow financial path have been likened to landing an A380 on an aircraft carrier, with experts increasingly concerned the country could end up in a recession.
Ahead of Tuesday’s RBA board meeting, with markets putting the chance of another interest rate rise at 50:50, there is growing debate about the bank’s long-discussed “narrow path” that keeps people in work while taming inflation.
The RBA’s narrow path for the economy has been likened to landing an A380 on an aircraft carrier.Credit: Francois Mori
Reserve Bank governor Philip Lowe has referenced this path since last year and as recently as last week.
“We will do what’s necessary to make sure that inflation does not stay too high for too long, and we’re hoping we can tread this narrow path that I’ve been talking about [how] the economy still grows, unemployment rises a bit, but not too much,“ he told a Senate parliamentary hearing last Wednesday.
More on this issue here, but stay tuned as we bring you the latest from the shadow treasurer on interest rates.
Hawkei armoured cars bound for Ukraine war in Australian support deal
Australia is set to give Ukraine the missile-capable, four-wheel-drive armoured cars that it has been requesting for months – the Hawkei – as the centrepiece of a forthcoming support package.
Although a formal commitment has yet to be sealed, there has been serious progress informally and Ukrainian Defence Minister Oleksii Reznikov told the Herald and The Age the vehicles were number one on his list of “demands” from Australia.
Ukraine wants Australian-made Hawkei four-wheel drives for its fight against Russia.
He described the Australian-made vehicles as “very, very famous armed vehicles with air defence systems” in an interview in Singapore after meeting his Australian counterpart, Richard Marles, at the weekend.
The Hawkei is a seven-tonne armoured car designed to be fitted with the same Norwegian-American air defence system that protects the White House.
Keep reading about the deal here.
PM says two Australians detained in Vietnam granted clemency
Two Australians who were facing the death penalty in Vietnam have been granted clemency, Prime Minister Anthony Albanese says.
Speaking upon his return from Vietnam, Mr Albanese said there had been a “substantial breakthrough” in the cases of two Australians sentenced to capital punishment.
Prime Minister Anthony Albanese meets with Vietnam’s Prime Minister Pham Minh Chinh.
“I made representations to the (Vietnamese) prime minister yesterday morning, and by yesterday afternoon the president had signed the clemency orders,” he told ABC’s 7.30 last night.
“Australia very much welcomed this. We make representations on behalf of Australian citizens, and we are very pleased that Vietnam has agreed to the request, and we thank them for it.”
Mr Albanese did not name the Australians due to privacy reasons.
“The families have been informed, and they’re very relieved,” he said.
This morning’s headlines at a glance
It’s Tuesday, June 6. I’m Caroline Schelle, and I’ll be anchoring our live coverage for the first half of the day, and it is shaping up to be another big news day.
Here’s what you need to know before we get started:
- Prime Minister Anthony Albanese says two Australians who were facing the death penalty in Vietnam have been granted clemency.
- Experts are increasingly concerned Australia could end up in recession as the Reserve Bank’s hopes of navigating the economy down a narrow path has been likened to landing an A380. The central bank board will meet today and will decide on whether it will lift interest rates again.
- The judge who dismissed Ben Roberts-Smith’s defamation lawsuit said the disgraced veteran gave false evidence, threatened a former comrade and arranged “unusual” legal fee payments for supportive witnesses.
Ben Roberts-Smith was awarded the Victoria Cross medal in 2011.Credit: Getty
- Consulting giant PwC handed over the names of staff it says are implicated in the tax lead scandal, including four who masterminded sharing confidential information.
- A $2 billion Morrison government health and hospitals funding program was “ineffective and fell short of ethical requirements” according to a review by the Australian National Audit Office.
- Australia is set to give Ukraine the Hawkei vehicles; missile-capable, four-wheel-drive armoured cars that it has been requesting for months.
- In other overseas news, the Kremlin said a purported radio address by President Vladimir Putin heard on Monday on Russian stations in regions bordering Ukraine was fake and the result of a hack.
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