News

The Reserve Bank of Australia is set to hold its second meeting of 2025 this week, with most banks not expecting a repeat of February's quarter-point cut in the cash rate target. While predictions vary, several major banks anticipate further rate cuts throughout the year, potentially reaching as low as 3.35% by December.

A Chinese research vessel, the Tan Suo Yi Hao, has been spotted in southern Australian waters, prompting monitoring by Australian agencies. While Prime Minister Albanese acknowledges the presence of the vessel, he emphasizes that China has not violated international law and expresses confidence in the Australian Defence Force and security agencies.

Elon Musk's AI firm, xAI, has acquired X, formerly known as Twitter, for $52.3 billion, combining two of his major companies and potentially boosting his AI development capabilities. This acquisition marks a significant chapter in X's history and provides xAI with a valuable platform for distributing its products and accessing real-time user data.

Australia's political parties are facing scrutiny over their energy policies, with both Labor and the Coalition promising to reduce power prices but lacking concrete details on how they will achieve this. The uncertainty surrounding future energy policies and the global energy landscape makes it difficult to predict the actual impact on power prices for Australian households.

Prime Minister Anthony Albanese launched his re-election campaign by emphasizing Australian values and self-reliance, aligning with the global "Trump bump" phenomenon. However, he must also address the concerns of young voters, who prioritize anti-establishment politics and material issues, and express skepticism about government effectiveness.