The Daily Aus Headlines: RBA rate cut and Coalition split
May 20, 2025
The Reserve Bank of Australia has slashed the cash rate to a two-year low. In a shocking move, the National Party has severed ties with the Liberal Party, marking a significant political shift. Meanwhile, Qantas and Virgin are thriving, benefiting from the exit of domestic competitors. And in heartwarming news, wild chimpanzees exhibit mother-infant bonds strikingly similar to those of humans! Tune in for insights on these eclectic topics!
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RBA Cuts Cash Rate
- The Reserve Bank of Australia cut the cash rate to 3.85%, a two-year low, signaling easing of inflation pressures.
- This rate cut reflects substantial falls in inflation, reversing previous rate hikes started in 2022.
National Party Splits Coalition
- The National Party split from the Coalition, ending their alliance with the Liberal Party formed since 1949.
- Nationals leader David Littleproud framed this break as a necessary 'break-up' to gain clearer focus.
Qantas and Virgin Dominate Market
- Qantas and Virgin increased their earnings and market control after competitors Bonza and Rex collapsed.
- Qantas now holds over 60% of domestic passengers, and Jetstar is Australia’s only remaining low-cost airline.