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Australia news as it happened: RBA cuts interest rate to 3.6 per cent; Apple, Google lose landmark federal court ruling; Netanyahu ‘in denial’ of Gaza suffering, says Albanese

Alexander Darling and Daniel Lo Surdo
Updated ,first published
Pinned post from 5.59pm on Aug 12, 2025
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What we covered today

By Alexander Darling

Thanks for joining us, we’ll be back soon with more live coverage. Here’s a quick recap:

  • The Reserve Bank of Australia has cut the official cash rate for a third time this year: it’s going from 3.85 per cent to 3.6 per cent, and the big four banks have all pledged to pass on the cut in full to mortgage holders.
  • The RBA also revised down its estimates for productivity by about one third, something the opposition was quick to seize on. Read more here from our team of expert writers.
  • In other politics news, the Greens have been calling for the federal government to release the National Climate Risk Assessment, a report which it has delayed, before the government releases its next set of climate targets in September.
  • Overseas, the leaders of 26 European nations have appealed to US President Donald Trump to defend their security interests at a key summit with his Russian counterpart Vladimir Putin later this week to discuss the war in Ukraine.
  • Israeli forces killed at least 55 people across the Gaza Strip overnight, including people seeking humanitarian aid, according to local health officials.
  • It comes as opposition leader Sussan Ley said today only the US can negotiate peace in the Middle East, and Australia’s recognition of a Palestinian state jeopardises this process. The Coalition has pledged to reverse Labor’s decision if re-elected.
  • The chief executive of NBN Co says she expects Australia to climb up global broadband speed rankings after a major upgrade to the network next month.
  • And tech giants Apple and Google have lost a landmark Federal Court trial, in a judgement that will likely reshape Australia’s digital app stores and potentially lead to one of the largest class action payouts in Australian history.

    Have a great night!

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Shadow treasurer: Rate cut reflects ‘no confidence in government’s economic agenda’

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Shadow treasurer Ted O’Brien was also up last hour speaking on the RBA’s rates decision with an accompanying statement on productivity and the economic outlook.

His take was that it wasn’t good news for the government.

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“What we’ve seen today from the Reserve Bank is a unanimous vote of no-confidence in the government’s economic agenda,” he said.

“They have downgraded the forecast for productivity, cutting it by almost a third since the election. This sends a very powerful message to the people of Australia that the Albanese government does not have the support of the RBA when it comes to managing the economy”.

O’Brien said the rate cut was slight relief, but that “everyday Australians are becoming poorer and poorer”.

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