FEAR & GREED | Business News Afternoon Report | RBA decision; Half Yours wins Melbourne Cup
Nov 4, 2025
The Reserve Bank holds the cash rate steady at 3.6%, maintaining a cautious stance on inflation. Meanwhile, the ASX 200 sees a nearly 1% dip as sectors like utilities and mining stumble. In the spirit of the Melbourne Cup, 'Half Yours' wins amidst huge crowds and $200 million in wagers. On the streaming front, new laws could require Netflix to invest $100 million in local content. In a bold move, Amazon strikes a $38 billion deal with OpenAI for computing capacity and tech resources.
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RBA Holds Rates But Flags Uncertainty
- The Reserve Bank held the cash rate at 3.6% in a unanimous, widely expected decision.
- Governor Michelle Bullock said inflation is falling but the path remains uncertain.
Market Slips Led By Utilities And Miners
- The ASX 200 closed down 0.9% at 8,814, with 10 of 11 sectors falling and healthcare the sole small gainer.
- Utilities and major miners led losses amid policy and sector-specific pressures.
Half Yours Wins Cup With Jamie Mellum
- The Melbourne Cup was won by Half Yours with jockey Jamie Mellum becoming only the second female winner.
- Around 80,000 fans attended and about $200 million was wagered on the event.