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News and Reviews

Breakdown of where interest rates might head

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Breakdown of where interest rates might head

By Ian Rogers

With the recent drop in inflation to its lowest level since 2021, now within the Reserve Bank of Australia’s (RBA) target range of 2-3%, the outlook for interest rates is still uncertain. While this is positive news, the RBA remains cautious due to persistent underlying inflation pressures. Here’s a breakdown of where interest rates might head:

Key Factors to Consider

  • Core Inflation Remains Elevated: Despite the drop in the headline inflation rate, core inflation (which excludes volatile items) is still sitting at 3.4%, outside the RBA’s target range. Core inflation is a preferred measure for the RBA as it gives a better sense of underlying inflation trends. Until this figure comes down more significantly, the RBA may be reluctant to start cutting rates.
  • Temporary Factors: The recent drop in inflation has been partly attributed to the government’s $2.5 billion energy rebate program, which helped reduce energy costs. The RBA has indicated it will “look through” this temporary effect, meaning they are more focused on sustained trends in core inflation rather than short-term relief measures.
  • RBA’s Cautious Stance: RBA Governor Michele Bullock has reiterated that high inflation remains a key concern. While the overall inflation rate is improving, she warned that the economy might not fully normalize until 2026. As such, the RBA is expected to remain cautious and maintain interest rates at current levels until there is clearer evidence of a sustained decrease in core inflation.
  • Future Outlook: Some economists believe that if inflation continues to trend downward, the RBA may consider easing interest rates in early 2024, but much depends on the upcoming quarterly inflation data due at the end of this month. This data will provide a more comprehensive picture and is likely to heavily influence the RBA’s decisions in the coming months.
  • Economic Pressures: The RBA’s hawkish stance stems from concerns about inflation’s impact on households. High inflation reduces purchasing power, and the RBA remains committed to ensuring inflation doesn’t re-accelerate. However, with the economy slowing and many borrowers feeling the strain of higher rates, there is growing pressure for the RBA to begin considering rate cuts if inflation remains under control.

What’s Next for Interest Rates?

  • Near-term outlook: The RBA is likely to maintain the current cash rate of 4.35% in the short term, particularly with core inflation still above target.
  • Longer-term outlook: If inflation, especially core inflation, continues to trend downward into early 2024, the RBA could start easing rates. The next key moment will be the release of quarterly inflation figures, which will offer a clearer indication of whether the RBA can begin to relax its monetary policy stance.

In summary, while inflation is moving in the right direction, the RBA is expected to hold rates steady for now, with potential.

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News and Reviews

Spiders Australian Tour 2024

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Not here to F@#k Spiders Australian Tour 2024 for Heath ‘Chopper’ Franklin

 

By Samantha Elley

Hold on to your hats and block your children’s ears, comedian Heath ‘Chopper’ Franklin is coming to town.

The winner of both the Comic’s Choice Award at the Melbourne Comedy Festival in 2018 and the Best Comedy at Fringe World 2018 is not here to f@#k spiders but he will be appearing at the Byron Theatre this Thursday, November 14 at 6.30pm.

The Northern Rivers Times decided to ask Mr Franklin a few questions.

What made you decide to get into the comedy business and how did  you get there?

I always liked making people laugh but I never thought comedy was a viable career so I just did it as a hobby at uni. Then with a bit of persistence and luck I finally got to turn my hobby into a job.

What was the hardest/easiest topics you had to cover? (ie. What has gotten the best/worst reaction from the audience?)

The hardest topic to cover is anything boring. Quarterly business activity statements for example aren’t fertile soil for comedy but luckily you don’t HAVE to cover that stuff. The easiest things to make comedy out of are things that don’t make sense but everyone accepts as normal. All you have to do is dismantle it in front of everyone and display its ridiculous components. Like explaining to people what’s in their sausage.

What are your thoughts on:

  1. Israel/Gaza conflict

I think there’s no shortage of opinions on this one and I don’t see how adding mine makes things any better.

  1. Trump back as president

It was America’s election, and they picked the person they wanted and good luck to them. I think there is an idea that the president is always an amazing righteous person but most of them lately have been corrupt, riddled with Alzheimer’s or sex pests so it’s only really movies and tv where the US President is infallible and upstanding.

  1. Lydia Thorpe

I think it’s great that we live in a country where you can publicly disagree with a monarch, but I also think that particular instance did more to raise her profile than champion her cause.

4. Gen Z

I’ve started getting more young people to my shows lately and it’s awesome. I think everyone sees the version of Gen Z that’s on the internet and that is the most annoying version of them and not representative of the whole generation. Everyone forgets that you can just ignore all the dumb stuff people say on the internet.

As you will be performing at Byron Bay, would love to know what you like about the place (If you haven’t been here before, feel free to tell us what you think it’s like).

I haven’t been there to do shows ever, and I haven’t been there for about 20 years. I assume it’ll just be me hanging with Chris Hemsworth on the beach all day.

Chopper will be covering a host of other topics in his show including e-scooters, UberEats, Bluey, vegans, cyclists – everything gets a serve in this award-nominated show.

A genuine Aussie comedy icon, Heath Franklin has been nominated for two ARIAs, a Logie, won the Comic’s Choice at the Melbourne Comedy Fest and sold more than half a million tickets worldwide. So, harden up and book now to join Chopper for the best night out in yonks.

To book your tickets visit here.

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News and Reviews

NRAR Pilot Boosts Water Compliance

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NRAR’s Maitland Pilot Program Highlights Importance of Face-to-Face Engagement for Water Compliance

A recent inspection program conducted by the Natural Resources Access Regulator (NRAR) in the Maitland region has demonstrated the effectiveness of direct, face-to-face engagement with water users in improving compliance with water laws.
The reinspection pilot program targeted 93 properties that had previously breached water regulations. Following an initial visit from NRAR outreach staff, 78% of landholders took positive action to address compliance issues. However, 22% (21 properties) were still found to be non-compliant.

Common Compliance Challenges

Keeley Reynolds Head of Communications

NRAR Director of Education and Engagement Keeley Reynolds

Keeley Reynolds, NRAR’s Director of Education and Engagement, highlighted recurring issues in the Maitland region, including:
• Oversized water works.
• Expired approvals.
• Inaccurate or incomplete logbook records of water use.
“These visits were an opportunity for us to confirm whether the rules are being followed and to help landholders better understand their obligations,” Ms. Reynolds said.
She expressed optimism about the program’s outcomes:
“The effective management of water in NSW relies on accurate and consistent water use measurements. These site visits show that engaging directly with landholders fosters better compliance outcomes.”

Addressing Non-Compliance
NRAR is actively working with non-compliant landholders to ensure they meet regulatory obligations. Ms. Reynolds warned that continued non-compliance could lead to enforcement actions, ranging from fines to suspension of approvals or, in serious cases, prosecution.

Understanding the Hunter Water Sharing Plan Area
The Maitland region forms part of the Hunter Water Sharing Plan, covering over 20,000km². Bordered by the Liverpool Ranges to the northwest and the Great Dividing Range to the west, it extends further inland than any other coastal region in NSW.
This diverse and expansive area underscores the importance of tailored, region-specific outreach to ensure water users understand and comply with regulations.

NRAR’s Commitment to Outreach
The NRAR’s Outreach Program visits thousands of licence holders annually to provide education and hear directly about their water management practices. During these visits, NRAR officers guide landholders on their obligations, fostering collaboration and compliance.
For more information about NRAR’s education and engagement initiatives, visit the NRAR website.

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Local News

Blueberry Prices Fall as Australian Supply Peaks Amid Seasonal Overlap

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Blueberry Prices Fall as Australian Supply Peaks Amid Seasonal Overlap

 

By Ian Rogers

Blueberry prices across Australia have dropped significantly, with punnets now selling for under $2.50 in most capital cities due to a seasonal surge in supply. Earlier in the year, a gap in supply led to prices soaring up to $20 a punnet in some areas. However, with production in full swing, Australians are enjoying more affordable prices as local farms reach peak output.

In Western Australia, this price decline is fuelled by a strong local supply, as blueberry production in the northern region winds down while production in the south ramps up. “What you’re seeing is a crossover between the two regions. This [price level] will be consistent for the next month,” explained Joshua McGuinness, Mountain Blue’s general manager of sales and marketing.

While many of WA’s blueberries are locally sourced, some are typically imported from the eastern states. However, recent biosecurity measures to mitigate fruit fly risks have limited imports, creating more demand for locally grown berries and supporting WA farmers.

Rachel Mackenzie, Executive Director of Berries Australia, noted that low prices in peak season do not pose a significant concern for growers, who base profit margins on annual averages. “We need to consider the whole season’s average price to ensure growers can turn a profit,” Mackenzie said.

With demand variations across the country, WA farmers are also taking advantage of interstate opportunities. Berrysweet owner Anthony Yewers shared that he plans to send fruit to South Australia to help meet supply gaps caused by recent adverse weather in the eastern states.

 

For more local news, click here.

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