Latest news with #YoungAussie
Yahoo
12 hours ago
- Business
- Yahoo
Shock to ‘force' RBA to cut interest rates further than expected: 'More aggressive'
The Reserve Bank of Australia (RBA) could be pushed to take a 'more aggressive' rate-cutting approach following the conflict in the Middle East and the potential oil price shock. Some analysts now expect the central bank could cut interest rates a further three times this year. KPMG has estimated the conflict in the Middle East could shave between 0.15 and 0.20 per cent of the GDP from the Australian economy this year, should the world oil market react in a similar way to how it responded to the first Iraq War. It said an 'oil shock' combined with the continuing threat of a global tariff fallout could 'force' the RBA's hand. 'The longer an oil price shock is sustained, the worse its impact is in terms of inflation outcomes, inflation expectations and short-term growth,' KPMG said. RELATED Superannuation warning after $25 billion ASX bloodbath as US-Iran tensions escalate Young Aussie reveals $390,000 property regret after falling into common trap Centrelink payment alert for 58,000 Aussies in caravans 'This is because oil price shocks can be particularly damaging to an economy like Australia's as the road transport sector — one of the heaviest users of oil in our economy — touches every single other sector (including itself) across the country.' Global oil prices slid 7.2 per cent on Monday following Iran's retaliatory missile strike on a US airbase. The Brent crude price fell to around $US70 a barrel. This has eased fears of major supply disruptions, but markets remain cautious as tensions continue. KPMG said it had revised down its RBA cash rate forecasts and now expects a further three rate cuts this year, one more than its original expectation at the start of 2025, bringing the cash rate down to 3.1 per cent by the end of the year. It expects the RBA to 'look through' any short-term inflationary impact of any oil shock and noted this would be combined with core inflation now looking well entrenched in the target band and overall weakness in the Australian economy. If the RBA cuts interest rates three times, homeowners could see their repayments drop by $265 a month. That's based on someone with an average $600,000 loan with 25 years remaining. Markets have an 86 per cent expectation of an interest rate change at the next RBA meeting in July and are almost fully priced in for three more reductions by the end of the year. NAB is the only Big Four bank predicting an interest rate cut next month, with ANZ, Commonwealth Bank and Westpac expecting a cut in August. Westpac chief economist Luci Ellis said the RBA would be more focused on inflation than the oil price. 'Only a very large shift in oil prices would dislodge its view of the inflation trajectory beyond the short term,' she told The Australian Financial Review. NAB chief economist Sally Auld said the RBA was likely to be more worried about the growth consequences of higher oil prices than the inflationary consequences. Petrol prices make up 3.35 per cent of the Consumer Price Index. All eyes will be on the monthly Consumer Price Index data released tomorrow. Commonwealth Bank analysts expect the upcoming inflation data to show annual inflation has eased to 2.3 per cent in May. While it has not changed its base case for the next cut to be in August, it said July remains 'live'.
Yahoo
14-04-2025
- General
- Yahoo
Aussie worker reveals feeling of incredible 'life-changing' $70 million lottery call
Australians playing in tonight's $70 million Oz Lotto jackpot have been urged to register to ensure they're notified right away after a win, with the life-changing phone call to take place a rapid five minutes after the draw. If players aren't signed up, they risk being left in the dark, officials say. Speaking to Yahoo News, The Lott's Anna Hobdell said the unbelievably lucky $70 million winner will find out their fortune almost instantly on this evening if they're registered. Hobdell will be the official to break the news, a phone call she's made many times before, but one that never loses meaning, being "able to change a life with a phone call". "As soon as we get the draw results... our team processes the paperwork, and essentially, we'll give them a call pretty much straight after that to give them the news," she told Yahoo News. "Then we pretty much harass them until we can get a hold of them." The Lott official said some people don't realise they have won initially, and in those cases, the team will issue a public callout to help track them down. "Sometimes winners can take up to two weeks to come forward if they are unregistered, and then it's a little bit harder to get a hold of them, and we basically just have to wait for them to check their ticket," Hobdell said. But when the jackpot hits a staggering $70 million, you can bet plenty of Aussies will be on edge, eagerly checking their numbers. Hobdell said that when it comes to life-changing wins like this, most winners are so stunned they can barely find the words. "There's a lot of shock," she said. "When it's a bigger prize, say, like $70 million, they are quite speechless. They can't really fathom that much of a prize, but when it's like a smaller amount, say, like $100,000, surprisingly, they're a bit more excited. "But when it's the bigger prizes, they kind of go into shock and don't really say much. It can be a bit hard to convince some people over the phone late at night. So as you can imagine, some people might think they're getting pranked." Winner's incredible strategy to pick numbers for million-dollar prize Dad claims $60m Powerball jackpot after 'vivid' dream about winning Young Aussie set for $100 million Oz Lotto jackpot moment Tickets in the Oz Lotto draw 1626, drawn on Tuesday night, can be purchased at any licensed lottery outlet. Aussies have just hours to buy a ticket in the second-biggest jackpot of the year and one of the largest in the game's 31-year history. A surge in last-minute entries is expected before the 7.30pm AEST cut-off. While the dream of winning a life-changing jackpot is undeniably tempting, Australians are being reminded to gamble responsibly. The odds of taking home the Oz Lotto Division 1 prize are extraordinarily slim — a staggering 1 in 62,891,499. Experts warn that lottery tickets should be seen as entertainment, not a financial strategy. Spending within your limits and knowing the odds is key. If gambling stops being fun or starts to feel like a problem, help is available through services like Gambling Help Online or by calling 1800 858 858. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
Yahoo
14-04-2025
- General
- Yahoo
Aussie woman reveals 'life-changing' $70 million lottery phone call: 'Speechless'
Australians playing in Tuesday night's $70 million Oz Lotto jackpot have been urged to register to ensure they're notified right away after a win, with the life-changing phone call to take place a rapid five minutes after the draw. If players aren't signed up, they risk being left in the dark, officials say. Speaking to Yahoo News, The Lott's Anna Hobdell said the unbelievably lucky $70 million winner will find out their fortune almost instantly on Tuesday if they're registered. Hobdell will be the official to break the news, a phone call she's made many times before, but one that never loses meaning, being "able to change a life with a phone call". "As soon as we get the draw results... our team processes the paperwork, and essentially, we'll give them a call pretty much straight after that to give them the news," she told Yahoo News. "Then we pretty much harass them until we can get a hold of them." The Lott official said some people don't realise they have won initially, and in those cases, the team will issue a public callout to help track them down. "Sometimes winners can take up to two weeks to come forward if they are unregistered, and then it's a little bit harder to get a hold of them, and we basically just have to wait for them to check their ticket," Hobdell said. But when the jackpot hits a staggering $70 million, you can bet plenty of Aussies will be on edge, eagerly checking their numbers. Hobdell said that when it comes to life-changing wins like this, most winners are so stunned they can barely find the words. "There's a lot of shock," she said. "When it's a bigger prize, say, like $70 million, they are quite speechless. They can't really fathom that much of a prize, but when it's like a smaller amount, say, like $100,000, surprisingly, they're a bit more excited. "But when it's the bigger prizes, they kind of go into shock and don't really say much. It can be a bit hard to convince some people over the phone late at night. So as you can imagine, some people might think they're getting pranked." Winner's incredible strategy to pick numbers for million-dollar prize Dad claims $60m Powerball jackpot after 'vivid' dream about winning Young Aussie set for $100 million Oz Lotto jackpot moment Tickets in the Oz Lotto draw 1626, drawn on Tuesday night, can be purchased at any licensed lottery outlet. Aussies have just hours to buy a ticket in the second-biggest jackpot of the year and one of the largest in the game's 31-year history. A surge in last-minute entries is expected before the 7.30pm AEST cut-off. While the dream of winning a life-changing jackpot is undeniably tempting, Australians are being reminded to gamble responsibly. The odds of taking home the Oz Lotto Division 1 prize are extraordinarily slim — a staggering 1 in 62,891,499. Experts warn that lottery tickets should be seen as entertainment, not a financial strategy. Spending within your limits and knowing the odds is key. If gambling stops being fun or starts to feel like a problem, help is available through services like Gambling Help Online or by calling 1800 858 858. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
