Australia news LIVE: RBA expected to slash rates; Trump to host Netanyahu for talks next Monday as US presses for Gaza ceasefire
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6.53am
Trump to host Netanyahu for talks next Monday as US presses for Gaza ceasefire
President Donald Trump will host Israeli Prime Minister Benjamin Netanyahu for talks at the White House next Monday, according to a US official.
The visit comes as the US leader has begun stepping up his push on the Israeli government to broker a ceasefire and hostage agreement and bring about an end to the war in Gaza.
The official was not authorised to comment publicly on the visit that hasn't been formally announced and spoke on the condition of anonymity. Netanyahu's visit comes after Israeli Minister for Strategic Affairs Ron Dermer's visit to Washington this week for talks with senior administration officials on a Gaza ceasefire, Iran and other matters.
The president in public comments has signalled he is turning his attention to bringing a close to the fighting between Israel and Hamas, since the ceasefire to end 12 days of fighting between Israel and Iran took hold a week ago.
Trump on Friday told reporters, 'We think within the next week we're going to get a ceasefire' in Gaza, but did not offer any further explanation for his optimism.
White House press secretary Karoline Leavitt on Monday said Trump and administration officials were in constant communication with Israeli leadership and bringing about an end to the Gaza conflict is a priority for Trump.
'It's heartbreaking to see the images that have come out from both Israel and Gaza throughout this war, and the president wants to see it end,' Leavitt added. 'He wants to save lives.'
She said White House officials continued to work on scheduling another Washington visit by Netanyahu to meet with Trump, but no date had been set.
AP
6.49am
Home values continue to climb with RBA expected to cut rates
By Millie Muroi and Shane Wright
Home values look set to continue climbing in the latter half of the year after nearly every corner of the country recorded growth in June, and as the Reserve Bank faces mounting pressure to further cut interest rates.
Fresh data from Cotality shows Australian home values grew for the fifth month in a row, climbing 0.6 per cent in June and 1.4 per cent across the quarter. Over the past 12 months, national home values have climbed 3.4 per cent, taking the median value of a home to $836,586.
Economists see a rate cut at the next RBA meeting in early July as all but locked in, as the economy faces headwinds including conflict in the Middle East, US President Donald Trump's tariffs and slowing domestic growth, while inflation has become a background concern.
The May monthly inflation data released by the Australian Bureau of Statistics revealed lower-than-expected inflation, which CreditorWatch chief economist Ivan Colhoun said cleared the way for the RBA to reduce interest rates at its July meeting.
However, further cuts in interest rates without sufficient growth in supply are likely to fuel further growth in housing values and house prices as borrowing costs fall and buyers flock to the market.
6.28am
This morning's headlines at a glance
Good morning, and welcome to our live coverage of today's national news stories. I'm Cindy Yin, and I'll be with you for the morning.
It's Tuesday, July 1. Here's what's making news this morning:
Prime Minister Anthony Albanese has signalled he could use a gathering of world leaders in India to meet US President Donald Trump as he justifies Australia's defence spending as more transparent than the measures used by other countries.
Home values have edged up for the fifth month in a row, with the Reserve Bank set to cut rates next week and deliver further relief to those paying off their properties.
It's the beginning of the new financial year, and a number of changes are coming into effect. Who won when the clock struck midnight? It depends on what stage of life you're in … and where you live.
AI is championed by some as the biggest technological advancement since electricity, but new research shows it could also boost Australia's economy by $115 billion annually.
In the US, a gunman allegedly started a forest fire in northern Idaho then opened fire on firefighters who responded, killing two and wounding another before his body was found nearby.
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