Economist Justin Wolfers, a former Reserve Bank economist, says Australia urgently needs to examine the role of money in its politics while scrutinising how US President Donald Trump profits from his position. His remarks feed into broader debates over global economic governance.
Reserve Bank of New Zealand Governor Anna Breman said developments in the Middle East over the past 24 hours have reinforced the central bank's concerns about inflation. The remarks come as the US-Iran conflict continues to unsettle global energy markets.
New Zealand's major banks have begun raising lending rates after the Reserve Bank lifted its Official Cash Rate by 25 basis points to 2.5% on Wednesday. The move passes the central bank's tightening directly on to mortgage holders and borrowers. Economists are now debating what the rate path means for household budgets and the broader economy in the months ahead.
Australia's embassy in Washington has formally objected to a Trump administration proposal to impose a 12.5% tariff on Australian imports, tied to allegations of forced labor in supply chains. Canberra says it has seen no evidence to support the claims underpinning the proposed tariff. The dispute reopens a trade fight that had appeared to be cooling in recent months.
More than 20,000 people gave Indian Prime Minister Narendra Modi a rapturous welcome at Melbourne's Docklands Stadium, as Australian Prime Minister Anthony Albanese heaped praise on Australia's Indian diaspora during the joint appearance.
Australia's Defence Department conducted a test of a prototype missile interceptor system in a remote outback location. The system combines Australian and American technology and is intended to defend against medium-range missiles or aircraft threats.
New Zealand's manufacturing sector is showing signs of recovery, while rising truck traffic points to strengthening economic activity. The data offered cautious optimism to businesses. Economists are assessing whether the rebound will last.
Australia and India have signed an agreement on uranium exports and deepened their defence cooperation. The pact provides a source for India's energy needs while strengthening strategic ties between the two countries. The move comes as regional partnerships are being reshaped.
Yooralla, an Australian disability support provider, has agreed to a $2 million back-pay deal for underpaid staff. Fair Work Ombudsman Anna Booth said the case serves as a warning to employers to comply with minimum payment laws.
New Zealand's public media funder NZ On Air has provided nearly NZ$22 million in taxpayer rebates to game development studios. The Game Development Sector Rebate is designed to foster the gaming industry in Aotearoa.