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Rate of interest rises anticipated once more this week
The Reserve Financial institution of Australia shall be again within the highlight this week when it doubtless delivers its seventh consecutive rate of interest hike on Melbourne Cup day.
Since Might, the central financial institution has been tightening rates of interest quickly from record-low ranges to wrestle inflation again beneath management.
This has despatched month-to-month mortgage repayments hovering for households on variable price dwelling loans.
Final month, the RBA eased again to a slower tempo of tightening however a surprisingly excessive set of quarterly inflation figures has some questioning if the central financial institution took its foot off the accelerator too quickly.
All 4 of the massive banks have revised their expectations for price hikes and now assume the central financial institution might want to carry charges increased to squash inflation that’s now spreading throughout the economic system.
Thirty-four of 38 specialists surveyed by Finder count on one other 25 foundation level hike within the money rate of interest will comply with the RBA’s board assembly on Tuesday.
A 25 foundation level hike would push up the annual value of servicing a typical $500,000 mortgage by virtually $10,000.
On Tuesday, the state of the property market shall be on present as Corelogic reveals the nationwide dwelling worth index for October.
– from AAP
Man charged in North Macedonia over connection to Australian drug community
A 27-year-old man has been charged over his alleged involvement in a transnational organised crime community.
13 arrests have been initially made in September 2021 in a partnership between Western Australian police and North Macedonian police referred to as Operation Comstock.
In the course of the investigation, police in Western Australia seized:
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$1m in money was seized from a van in Kenwick, WA.
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$650k was seized from the house of a person arrested close to the van in Kenwick.
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$3m in money was found hid inside a truck stopped on the Eucla border whereas leaving WA.
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$2.3m in drug funds have been seized.
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3kg of methylamphetamine and 750g of heroin have been additionally seized.
Police alleged the 27-year-old resident of North Macedonia organized the coordination, importation and distribution of managed substances and cash inside Western Australia.
Earlier this month detectives from the Critical and Organised Crime Division travelled to North Macedonia to work with native legislation enforcement after an arrest warrant was issued for the person’s arrest.
On Thursday two search warrants have been executed and he was taken into custody. He has since been charged beneath North Macedonian legislation with prison affiliation and unauthorised manufacturing putting available on the market of narcotic medication.
It’s alleged the offences have been dedicated inside Western Australia.
The person is anticipated to look earlier than court docket in North Macedonia on 28 October 2022.
Gordon Fairman from the Western Australian police thanked the Australian Federal Police for his or her help and credited the worldwide partnership with the profitable operation.
“By our worldwide partnerships we are going to deliver those that are primarily based outdoors our jurisdiction, however who selected to focus on our communities, to justice,” he stated.
“My message to anybody who thinks about bringing medication into our neighborhood is easy. You aren’t welcome and regardless of the place you might be situated, we are going to discover you.”
“I’d wish to thank Australian federal police for his or her intensive help on this matter by means of their worldwide networks and partnerships.”
Adeshola Ore
Home fuel reserves wanted to sort out value spike: Andrews
Victorian premier, Daniel Andrews, has reiterated requires home fuel reserves after Australia’s vitality ministers met on Friday to sort out skyrocketing fuel costs.
Talking to Sky Information on Sunday morning, local weather change and vitality minister, Chris Bowen, didn’t rule out the fuel value cap. The commonwealth will develop nationwide coverage choices for states and territories to contemplate within the coming weeks by means of the Australian Competitors and Client Fee.
Andrews stated Australia ought to set up fuel reserves and export extra pure assets:
We shouldn’t be paying European costs, not in Europe. And we actually shouldn’t be competing towards the remainder of the world for one thing that comes out of our floor.
Variety of folks injured in Melbourne in separate assaults grows to 6
A further three folks have been reported injured in three separate violent incidents in Melbourne’s CBD.
Two males have been present in a important situation with stab wounds on Bourke Road simply earlier than 6am on Sunday and brought to hospital.
One of many males, who has not been formally recognized, later died.
No arrests have been made and Bourke Road has been shut between Elizabeth Road and Queens Road whereas murder squad detectives examine what occurred.
Earlier, two males have been injured in what police have described as a “giant affray” outdoors Inflation nightclub on King Road.
An unidentified man was critically injured and a 19-year-old man suffered suspected critical accidents.
In the meantime, the hunt is on for 2 males needed over an assault in Southbank.
It’s believed two males set upon a bunch as they left a bar at Riverside Quay at round 12.40am.
A 25-year-old Springvale man was struck and fell to the bottom, hitting his head on the bottom.
Two different males suffered facial accidents.
Police say the boys who gave the impression to be the aggressors fled the scene.
– from AAP
Push to deal with cash laundering ‘utopian’: playing business
NSW Crime Fee proposals to introduce obligatory cashless playing to cease cash laundering proposed final week have obtained combine help.
Pokies supply criminals a handy methodology to launder earnings from illicit actions however a fee inquiry discovered venues are usually not doing sufficient to cease it.
Whereas the size of the issue is unclear, commissioner head Michael Barnes stated it includes billions of {dollars} and a tougher line is required.
However ClubsNSW CEO Josh Landis stated the business has been singled out over the difficulty and branded the proposal a “utopian” resolution.
Everybody is aware of criminals spend cash across the economic system on automobiles, jewelry, clothes … they don’t advocate the obligatory cashless method for different purchases.
They’ve recognized a utopian method to drive prison behaviour to zero that’s disproportionate from the chance recognized and would have a disproportionate impression on legislation abiding residents.
ClubsNSW would help digital funds, corresponding to with a debit card or smartphone requiring folks to have already deposited clear, traceable cash with a financial institution. The organisation stated it could not help a “obligatory” method and had been trialling cashless machines.
The Australian Accommodations Affiliation gained’t tackle particular questions on implementing digital funds. Liquor and policing director John Inexperienced as an alternative stated it’s targeted on “measures which is able to truly work”.
Neither New South Wales premier Dominic Perrottet or opposition chief Chris Minns have dedicated to going cashless on playing however have pledged to work with the business.
Customer support minister Victor Dominello introduced plans to introduce the idea in 2020 however they stalled and he’s not in command of the portfolio space.
Three dozen machines are being trialled in Newcastle utilizing know-how from pokies producer Aristocrat, permitting folks to load cash onto machines from a digital pockets on their cellphone.
Three different producers have been authorised for cashless know-how and an software from one other is being assessed.
– from AAP
Traveller who introduced duck meat in baggage fined and deported
A world traveller with 6kg of meat of their baggage has had their visa cancelled and been whacked with a $2,700 high-quality, with politicians saying there might have been “monumental injury” to the nation’s farmers.
Some 3.1kg of duck, 1.4kg of beef rendang, greater than 500g of frozen beef and almost 900g of rooster was found within the traveller’s luggage throughout an inspection by Australian biosecurity officers at Perth airport final week.
The individual arriving had declared they weren’t bringing any meat, poultry, or different meals into Australia on their incoming passenger card.
Australian Border Drive officers cancelled the traveller’s visa following the invention, minister for dwelling affairs Clare O’Neil stated.
The passenger was additionally fined $2,664.
Final month the federal authorities launched harsher penalties banning folks from bringing meat into Australia from nations coping with extremely contagious foot and mouth illness – which poses a serious threat to Australia’s agricultural business.
Minister for agriculture, fisheries and forestry Murray Watt stated it was a “very critical breach” and the traveller had “been hit with the hardest penalties”.
The actions of biosecurity officers and ABF on the border have as soon as once more protected the Australian neighborhood and our agricultural sector from dangerous biosecurity dangers which have the potential to do monumental injury.
– from AAP
Robust winds lash south-east Victoria and northern Tasmania
Victorians dwelling alongside the south coast ought to be conscious that extreme climate warnings have been issued for damaging winds.
Tasmanian State Emergency Providers have additionally issued warnings for Tasmanians to brace themselves for the arrival of the storm system on Monday.
Tasmania SES performing director, Leon Smith, stated a extreme climate warning issued by the Bureau of Meteorology confirmed the damaging north-westerly winds have been anticipated throughout your entire state.
We’re working intently with the Bureau to watch and put together for the forecast situations, which incorporates wind gusts of 90 to 100 km/h.
Extreme thunderstorms are additionally attainable within the southern half of Tasmania, which might enhance the chance of damaging wind gusts, flash flooding and dangerous driving situations.
With latest persistent rain, moist soil and damaging winds, there’s vital potential for bushes and powerlines to be introduced down, proper throughout Tasmania.
We may have SES volunteer crews ready and able to assist if wanted, however folks ought to be ensuring their properties are as ready as attainable, by making certain these niggling upkeep jobs are achieved earlier than the damaging winds happen.
The Bureau of Meteorology has one other view of that climate system shifting throughout the south of the continent.
One lifeless, two injured in Melbourne stabbing assaults
One man has died, two are combating for all times and one other is badly injured following two separate stabbing assaults in Melbourne’s CBD.
Two males have been present in a important situation with stab wounds on Bourke Road simply earlier than 6am on Sunday and brought to hospital.
One of many males, who has not been formally recognized, later died.
No arrests have been made and Bourke Road has been shut between Elizabeth Road and Queens Road whereas murder squad detectives examine what occurred.
Earlier, two males have been injured in what police have described as a “giant affray” outdoors Inflation nightclub on King Road.
An unidentified man was critically injured and a 19-year-old man suffered suspected critical accidents.
Against the law scene has been arrange on the nook of King Road and Flinders Road, no arrests have been made.
– from AAP
Victorians caught in Optus knowledge breach to get new licences
Victoria’s Division of Transport will change almost a million licences free of charge by the tip of the 12 months and all new playing cards will function an additional layer of safety.
Licence numbers will stay the identical however a further quantity shall be printed on the again, much like CVV numbers used on bank cards.
Anybody in search of to make use of their license for identification corresponding to when making use of for a mortgage or opening a checking account might want to present the second quantity.
The main points of greater than 942,000 Victorian licence holders have been compromised within the hack, in response to the Division of Residence Affairs.
A Victorian Division of Transport spokesperson stated the state authorities has requested Optus to cowl the price of changing its prospects’ licences.
The second quantity will turn into a everlasting function of all new licences from November 2022.
Some 5 million licence holders who weren’t impacted by the hack may even ultimately obtain new playing cards.
– from AAP
Margaret Simons
The Daniel Andrews paradox: the enduring attraction of Australia’s most divisive premier
On 27 February 2003, the brand new MP for the outer suburban Melbourne voters of Mulgrave rose to his ft to ship his first speech within the Victorian parliament. Maiden speeches are historically the place a brand new MP lays out their core motivation and their imaginative and prescient, however Daniel Andrews eschewed stirring prose or self-revelation.
There was nothing on this first outing to point that, 19 years later, he would turn into Australia’s longest-serving incumbent authorities chief and one of many nation’s most vital politicians.
Politics, he stated, was “an honourable career”.
The supply of that honour? “Hospitals after we are sick; colleges to provide our youngsters the perfect begin attainable and a police drive that’s given the assets it wants … these are the issues that outline state politics – at the least they need to.”
A former senior public servant who has labored intently with Andrews says, “I doubt if he would change the tenor of that speech at this time.” He wouldn’t add any grand phrases: “He thinks there’s a restricted marketplace for visionary leaders”.
Andrews’ political methodology is a hard-boiled, pared down, sensible and typically ruthless train of energy, quite than the product of intellectualising or rhetorical flourish. He thinks in huge footage, however talks small and concrete.
The previous public servant says: “He’s a visionary. However he’s a visionary with no guiding philosophy.”
For extra on the unlikely star of Daniel Andrews forward of the upcoming Victorian election, learn the complete story from Margaret Simons.
Right here is the prime minister’s tweet on the scenario in South Korea.
Fears Australians caught in crush that killed 149 folks in South Korea
The federal authorities is scrambling to search out out if any Australians have been killed or injured in a stampede that has left at the least 149 folks lifeless in South Korea.
The catastrophe occurred as an enormous crowd celebrating Halloween on Saturday night time surged into an alley in a nightlife space, which is common amongst younger folks, expatriates and travellers, within the capital Seoul.
“Our honest condolences for all affected by this horrible tragedy,” prime minister Anthony Albanese tweeted on Sunday.
Ambassador to the Republic of Korea Catherine Raper joined Albanese in conveying Australia’s condolences to the South Korean authorities, describing the incident as “tragic”.
The Australian embassy in Seoul is urgently making enquiries with native authorities to search out out if any Australians have been concerned.
“We ask all Australians in Seoul to test in with family and friends to allow them to know your whereabouts,” Raper tweeted.
An extra 65 folks have been injured, many severely, within the melee round 10.30pm in Seoul’s Itaewon district.
It was the primary Halloween occasion in Seoul in three years after the nation lifted Covid-19 restrictions and social distancing.
Most of the partygoers have been sporting masks and Halloween costumes. Some witnesses stated the group had turn into more and more unruly because the night time wore on.
Choi Sung-beom, head of the Yongsan Fireplace Station stated lots of the victims have been girls of their 20s, in response to Reuters.
Two foreigners have been among the many lifeless, native authorities stated.
Australians involved concerning the welfare of family members in Seoul can name the Division of International Affairs and Commerce Consular Emergency Centre on 1300 555 135. These outdoors Australia can name +61 2 6261 3305.
– from AAP
Storms in SA and elements of WA as NSW braces for extra rain subsequent week
Circumstances in New South Wales and Victoria could also be easing after weeks of rain however all that flood water is heading west into South Australia and the Bureau of Meteorology has been warning of thunderstorms on Sunday.
Thunderstorms are additionally predicted over Western Australia with warnings issued throughout the Wheat Belt and Goldfields area.
In the meantime in Queensland moist climate will sweep throughout the south of the state on Tuesday.
Authorities to offer $130m in help for flood-affected communities in Victoria
Victorian communities devastated by floods will be capable of entry as much as $130m to clear public land, simply as a brand new gastroenteritis outbreak poses a contemporary well being risk to residents cleansing up after the catastrophe.
The funding, introduced by local weather motion minister Lily D’Ambrosio on Sunday, consists of $42m for eradicating hazards or finishing up instant restore works together with fixing neighborhood amenities.
An extra $71m is allotted for large-scale restore works, whereas native catchment authorities and conventional house owners teams will share in $18m.
The state authorities flagged planning guidelines may even be adjusted so companies could function in impacted areas and supply short-term lodging.
In the meantime VicEmergency has warned communities in flood-affected areas of a gastroenteritis outbreak.
Flood waters could include sewage and different poisonous waste and may also overflow into your own home.
Contact with sewage could make folks sick, so clear and disinfect any impacted areas.
Residents in cities alongside the Murray River had this week flagged considerations waterways had turn into contaminated as a result of a foul odor round stagnant flood water.
Anybody in flood-affected areas has been reminded to solely drink or wash in identified clear water.
– from AAP
Kerang residents start restoration after flood
Residents from a northern Victorian city have been given the all-clear to return after the flood risk eased, however the injury to homes, livestock and crops gained’t be identified till the water recedes.
There’s one highway open to Kerang close to the Victorian-NSW border after the city was remoted for the second time in as many weeks by floods which have battered the jap states.
Kerang mayor Charlie Gillingham stated in all probability 10 to fifteen homes had been inundated, whereas losses to crops and livestock have been to this point unknown and a few inventory remained stranded.
“In the event that they’re on a bump someplace in water, they (house owners) are going to should get feed to them one way or the other,” Gillingham stated.
The mayor stated the city wanted to report its losses to be able to shore up authorities help.
That shall be occurring within the coming days the place we’d like folks to register their losses.
So we are able to begin to speak to politicians and the wish to get some funding by means of to get us again on observe once more.
Western Victoria is forecast to be pummelled by heavy rain on Sunday afternoon whereas an evacuation order stays in place at Echuca.
The Murray River at Torrumbarry Weir is anticipated to peak over the weekend and probably trigger main flooding, with a variety of watch-and-act alerts in place for different cities within the north and northeast of the state.
Throughout the border in NSW greater than 1,000 houses and companies have been broken, with the federal government appointing Mel Gore, Ken Harrison and Donna Argus as restoration and clear up co-ordinators.
Flood restoration minister Steph Cooke stated the coordinators would guarantee a well timed and efficient transition to restoration.
Because the waters slowly recede our first precedence is to undertake speedy injury assessments of flooded houses and companies in order that they will start the mammoth process of cleansing up.
As at 28 October, 1,008 houses and companies in NSW have been recorded as broken and 163 deemed uninhabitable from 2,389 assessments.
Rain and storms are anticipated to hit numerous elements of NSW on Sunday by means of Monday after a largely sunny Saturday.
There are greater than 60 flood warnings throughout NSW, together with emergency warnings in Murray Valley Regional park, Mathoura East, Cummeragunja and elements of Moama.
Storms and damaging winds are anticipated in South Australia on Sunday from the west coast all the best way right down to Mount Gambier, together with Adelaide.
– from AAP
Coalition warns extra strikes from Labor IR invoice that limits strikes
The shadow office relations minister, Michaelia Money, additionally appeared on Sky warning Labor’s IR invoice will result in “industrial and financial chaos” and that minister Tony Burke will “solely be referred to as the minister for strikes.’
Regardless of the bluster the IR invoice truly incorporates new limits on the appropriate to strike, together with a requirement for obligatory conciliation earlier than employees can stroll off the job and an influence for the Honest Work Fee to terminate “intractable” disputes.
Requested about these, Money stated:
Nicely, there’s just one factor that Labor’s industrial relations invoice will result in and that’s extra strikes and fewer jobs … in the event you didn’t wish to encourage extra strike motion, why would you open up the commercial relations panorama to extra strikes?
So, simply an assertion that that’s what the invoice does, adopted by this attraction to authority:
We’ve now had [Victorian construction union secretary] John Setka come out on behalf of unions in Australia saying that is improbable. And I quote: ‘We are able to now go after non-unionised websites’. Blind Freddy can let you know that when each employer group in Australia, stands up united – and I don’t assume that’s ever occurred earlier than – stands up united and says, the one factor that this invoice does is result in extra strikes and fewer jobs. I do know who I consider.
Authorities not ruling out a value cap on fuel costs: Bowen
Paul Karp
The local weather change and vitality minister, Chris Bowen, is speaking up the prospect of swift motion on electrical energy costs, following a report on Sky that vitality ministers have been advised on Friday any type of value cap must be finalised in November.
Bowen advised Sky Information:
After all I do wish to take care of that risk [of higher power bills] head-on. I did say to state vitality ministers the identical issues as I’ve stated, publicly … that the federal authorities won’t stand by and permit these pressures to circulate by means of to households and to business with out taking any prudent, accountable and cautious motion. And … we gained’t act a day earlier till we’re positive concerning the coverage settings and now will we wait a day longer.
I additionally stated to the states that it’s essential we’re working collectively: that states have levers, the commonwealth has levers. All of us have a point of levers which can be disposal. It’s essential that we’re coordinating speaking to one another making certain that any motion that I take or any motion {that a} state minister takes will not be contradictory to what we’re attempting to realize and that now we have the traces of communication. And I used to be delighted each single state and territory minister 100% agree with that method.
Requested particularly a couple of value cap, Bowen stated:
We now have very thorough cupboard processes, the place we work points by means of rigorously methodically.
So no choice but however not ruling it out. Bowen stated it was “proper to say” the issue isn’t just fuel costs, that there are “elevated costs proper world wide for each coal and fuel”.
Authorities taking a look at improved pay and coaching for youngster care employees
Chalmers says:
We now have already supported a pay rise for early childhood educators who received a 4.7% pay rise as a part of that minimal wage choice which was what we supported as the primary consequence of the brand new Labor cupboard.
So clearly we received to take care of expertise and labour shortages. That’s why Tafe, that’s why migration, that’s why universities are so vital. We now have to draw extra folks into the sector. That’s why wage rises are vital. We’re performing on all of these fronts concurrently.
And that’s a wrap.
Chalmers requested whether or not the financial advantages of the NDIS ‘outweigh the prices’
Chalmers:
It’s. […] From reminiscence one thing like there’s a 29% enchancment in people who find themselves not searching for work or not in work. There’s I believe a 24% enchancment in employment of fogeys of people who find themselves concerned within the scheme. There’s a complete vary of financial advantages. They’re vital. However initially we wish to present the service to Australians with a incapacity and their households. It’s actually essential that we try this.