RBA's rate hold was nothing more than a ‘cautionary move'
It comes after the Reserve Bank of Australia denied mortgage holders what would have been the first consecutive interest rate cuts since 2020.
'I think we will find that the CPI numbers, when they come out in August, will show that there is a very, very good case to reduce interest rates,' Mr Hawker told Sky News Australia.
'You wouldn't want to be going out for election right now if you were the RBA governor right now, but she doesn't have to go through that process.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
an hour ago
- Perth Now
Who's who in the Tassie election
Tasmania will head to the polls on Saturday, after a bombshell move by the opposition sparked a snap election just 16 months after the last. The state's lower house is comprised of 35 MPs, seven chosen from each of five electorates, and the upper house is voted in with one member representing each of the 15 electorates. With 50 state representatives and 17 on a federal level, as well as 29 councils across Tasmania, the state's 530,000-strong population has more than its fair share of politicians. Here are the key players you need to know as voting begins. Jeremy Rockliff The incumbent Premier took over in the top job in April 2022 and has faced a difficult time since. Although he inherited a Liberal majority from his predecessor Peter Gutwein, the government went into minority after two Liberal backbench MPs quit the party to sit as independents in opposition to the proposed Macquarie Point Stadium project. With the support of the newly independent ex-Liberals uncertain, Rockliff rolled the dice with an early election in 2024 that plunged the government even further into minority. Since that result, things have gone from bad to worse for the Premier, with the resignation of his Deputy Premier over the botched Spirit of Tasmania rollout, a deepening budget deficit and growing opposition to the Macquarie Point stadium. Tasmanian Premier Jeremy Rockliff decided to take Tasmania to the polls after a motion of no confidence against him was passed in parliament in June. NewsWire/ Nikki Davis-Jones Credit: News Corp Australia Things came to a head in June when the state parliament passed Labor leader Dean Winter's motion of no confidence, forcing Rockliff to request an early election from the Governor. While it has not been smooth sailing for the incumbent Premier, if polls are to be believed, Mr Rockliff is on track to lead his party to a form of victory for the fifth election in a row, though he is likely to preside over a hung parliament. Mr Rockliff has pledged to create a state-owned insurance company if elected, describing it as the party's most significant announcement. Dean Winter Dean Winter has led the Labor Party for little over a year, but it's not yet clear if his legacy will be that of a rebuilder, or an agent of chaos. Mr Winter introduced the no confidence motion in Jeremy Rockliff's leadership in June, citing the botched roll out of new Spirit of Tasmania vessels, the state of the budget and the controversial Macquarie Point Stadium project as examples of Mr Rockliff's failed leadership. Mr Rockliff was scathing of the Opposition Leader in the wake of the motion's passage, blaming him for an election that 'Tasmanians don't want and that Tasmanians cannot afford.' 'You might get rid of me mate, but they're coming for you as well,' he told Mr Winter. It remains to be seen whether Tasmanians will punish or reward Mr Winter's gamble. Labor Leader Dean Winter has been in the role for just over the year, but his no confidence motion means he'll go down in the history books. NewsWire/ Simon Sturzaker Credit: News Corp Australia Rosalie Woodruff The Greens leader is perhaps the highest profile Tassie politician fighting against the Macquarie Point stadium, which is currently tied to securing a licence for the Tasmania Devils AFL team. Woodruff said the possible $1 billion price tag for the stadium would be better spent elsewhere, and has made the scrapping of the venture central to securing Greens support in the event of a hung parliament. Both Labor and the Liberals have ruled out doing any deals with the Greens, meaning Woodruff's position in the next parliament is likely to be one of irrelevancy. Greens leader Rosalie Woodruff is not expected to carry much influence in the next parliament, with both major parties declaring they would not do a deal with the party in the event of a hung parliament. NewsWire / Richard Jupe Credit: News Corp Australia Bridget Archer Bridget Archer is the highest profile new candidate in the state election, having previously represented the federal division of Bass in the federal parliament from 2019 until her shock defeat in Labor's landslide in May. Ms Archer is now running to represent the same voters, but at a state level. During her time in Canberra, she was known for her maverick streak, most notably crossing the floor to vote in favour of the establishment of a federal anti-corruption body, in defiance of her then-leader Scott Morrison. Liberal candidate and former federal MP Bridget Archer is running for state parliament after losing her seat in Canberra in May. NewsWire/ Scott Gelston Credit: News Corp Australia David O'Byrne One of the state's most controversial politicians, David O'Byrne is an independent MP representing the electorate of Franklin. Mr O'Byrne was a former Labor cabinet minister and for two weeks in 2022, the state's Labor leader until he resigned the post following accusations of historic sexual misconduct while working at a union. A report cleared him of sexual harassment and found he had not breached any Labor Party rules. Mr O'Byrne left the Labor Party in 2024 after his pre selection was blocked by then state leader Rebecca White (who is now the federal member for Bass) but was returned by voters to represent Franklin as an independent. He has since provided support to the minority Liberal government. Mr O'Byrne is a strong proponent of the Macquarie Point stadium. Independent candidate for Franklin, David O'Byrne, is strongly in favour of the Macquarie Point stadium. NewsWire/Nikki Davis-Jones Credit: News Corp Australia Craig Garland First coming to the attention of political observers in the 2018 Braddon by-election, where he scored an impressive 10 per cent of the vote as an independent, Mr Garland was elected at the 2024 state election on a platform of opposing the state's industrial salmon farming and ending native forest logging. Mr Garland pleaded guilty to a charge of drug driving in June after testing positive for cannabis while driving to go fishing. Independent member for Braddon Craig Garland ran a strong campaign against industrial salmon farming in the last election. Nikki Davis-Jones Credit: News Corp Australia Eric Abetz One of Australia's most outspoken, socially conservative politicians, Mr Abetz returned to politics in 2024 when he was elected to represent Franklin. However he is better known for his time representing the state of Tasmania in the federal Senate between 1994 and his defeat in 2022. Mr Abetz served as leader of the Government under both Tony Abbott and Malcolm Turnbull and was a passionate opponent of same sex marriage, saying its passage could lead to people marrying the Sydney Harbour Bridge. Mr Abetz has been touted as a potential successor to Premier Rockliff in the event of his defeat or resignation. Eric Abetz returned to state politics at the 2024 election, but is better known for his near-30 years as a Senator for Tasmania in Canberra. NCA NewsWire / Gary Ramage Credit: News Corp Australia
The Age
an hour ago
- The Age
Rudd pushes back on US claim that Australia needs to ‘step up' on defence
Washington: Australian ambassador to the US Kevin Rudd has pushed back against claims Canberra needs to step up its contribution to the collective deterrence of China in the Indo-Pacific, telling a security conference that Australia had already done the things now being asked of it by the Trump administration. Rudd said Australia led the way in identifying strategic concerns about the rise of China and its military force, citing the 2009 defence white paper he released as prime minister, and had made corresponding changes to its defence strategy. 'Without saying 'we told you so', we did,' Rudd said when asked whether Australia needed to increase defence spending more urgently in response to recent Chinese military exercises in the region. 'If you look at the trajectory of what our government has been doing – reallocation of resources to the Royal Australian Navy, the movement now in terms of nuclear-powered submarines - that consciousness [about China] has been alive and well in our part of the world.' Rudd noted the high level of integration between the two nations' navies. 'We are cheek by jowl with the United States in the Indo-Pacific. We know what new capabilities are required. We're investing in those capabilities. So we're pretty bullish about our contribution to collective deterrence going forward,' he said. The former Labor prime minister was addressing the Aspen Security Forum on Saturday (AEST) at a critical moment in Indo-Pacific relations as the US pushes regional allies to lift defence spending and make clearer commitments about what they would do in a conflict involving the US and China over Taiwan or other issues. Specifically, the Pentagon is seeking undertakings about how its Virginia-class submarines would be used once they are sold to Australia under the AUKUS agreement, and is also calling for the Albanese government to lift defence spending by about $40 billion a year, to 3.5 per cent of GDP. Confirming a recent news report that said the Pentagon had asked Australia and Japan to clarify what they would do in a conflict with China, the US official leading the AUKUS review, defence undersecretary Elbridge Colby, said the US was urging allies to 'step up their defence spending and other efforts related to our collective defence'.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Rudd pushes back on US claim that Australia needs to ‘step up' on defence
Washington: Australian ambassador to the US Kevin Rudd has pushed back against claims Canberra needs to step up its contribution to the collective deterrence of China in the Indo-Pacific, telling a security conference that Australia had already done the things now being asked of it by the Trump administration. Rudd said Australia led the way in identifying strategic concerns about the rise of China and its military force, citing the 2009 defence white paper he released as prime minister, and had made corresponding changes to its defence strategy. 'Without saying 'we told you so', we did,' Rudd said when asked whether Australia needed to increase defence spending more urgently in response to recent Chinese military exercises in the region. 'If you look at the trajectory of what our government has been doing – reallocation of resources to the Royal Australian Navy, the movement now in terms of nuclear-powered submarines - that consciousness [about China] has been alive and well in our part of the world.' Rudd noted the high level of integration between the two nations' navies. 'We are cheek by jowl with the United States in the Indo-Pacific. We know what new capabilities are required. We're investing in those capabilities. So we're pretty bullish about our contribution to collective deterrence going forward,' he said. The former Labor prime minister was addressing the Aspen Security Forum on Saturday (AEST) at a critical moment in Indo-Pacific relations as the US pushes regional allies to lift defence spending and make clearer commitments about what they would do in a conflict involving the US and China over Taiwan or other issues. Specifically, the Pentagon is seeking undertakings about how its Virginia-class submarines would be used once they are sold to Australia under the AUKUS agreement, and is also calling for the Albanese government to lift defence spending by about $40 billion a year, to 3.5 per cent of GDP. Confirming a recent news report that said the Pentagon had asked Australia and Japan to clarify what they would do in a conflict with China, the US official leading the AUKUS review, defence undersecretary Elbridge Colby, said the US was urging allies to 'step up their defence spending and other efforts related to our collective defence'.
