As it happened: RBA lifts interest rates to 2.6 per cent as treasurer sends warning over global recession; Labor, Liberal MPs defend stage three tax cuts

Putin had proclaimed their annexation last Friday following what it called referendums over several days that were denounced by Kyiv and Western governments as illegal and coercive.

Zelensky named eight small towns in Kherson in the south as recently having been recaptured.

A video released by the Ukraine defence ministry appeared to show the Ukrainian flag being raised over one of those communities, Davydiv Brid, in Kherson.

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“It is troubling that faith or association with a church, mosque, synagogue or temple could render a person immediately unsuited to holding a particular role,” Thorburn said in a statement on Wednesday.

“That is a dangerous idea, one that will only reduce tolerance for others and diversity of thought and participation in our community and workplaces,” he said.

Thorburn also flagged that under Victorian law and a related act that freedom of religion, conscience, thought and association were explicitly recognised as human rights.

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BlackRock is the world’s largest asset manager and oversees $10 trillion globally.

“The RBA seems to be on a different tack to other central banks,” Vardy said.

“Will this sort of domestic dynamic of stepping down lead other central banks to think about that course of action? I certainly wouldn’t rule it out.

As soon as we see signs of inflation looking like it’s peaking, unemployment rates starting to rise ... we’ll definitely start to see some of these outsize hikes stepped down from central banks.”

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The laggers: Consumer staples was the only sector to finish in the red, down a modest 0.04 per cent. A2 Milk slipped half a per cent, despite kicking off its on-market buyback.

Woolworths slumped 0.76 per cent to $33.7; alcohol retailer Endeavour Group dipped 0.42 per cent to $7; and IGA owner Metcash shaved 0.5 per cent of its share price.

Meanwhile, coal miners suffered mild losses following a drop in the coal price. New Hope and Yancoal slumped 1.19 per cent and 0.81 per cent, respectively.

The lowdown: It was another day of rallying across global sharemarkets, as investors took the slowdown in interest rate increases as a sign that the peak hawkishness from central banks had passed.

“Global financial markets have staged a sharp recovery buoyed by expectations that central banks may follow the RBA’s lead and ease the pace at which they tighten monetary policy,” ANZ analysts said. “Views are mixed on whether markets have now bottomed out or whether this recovery will be short-lived.”

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“Our most important job will be to put these words into action ... any game plan in sport is only as good as the way in which you deliver it,” Perkins said.

“The reality is that for Australia to establish the world’s best sporting system, none of us here will be able to win alone.

“But if we can all be part of this together, we will achieve remarkable things - not just for sport, but for Australia.”

Major events in Australia across the next decade include the T20 Men’s Cricket World Cup, the FIFA Women’s World Cup, the 2026 Commonwealth Games, men’s and women’s Rugby World Cups and the Netball World Cup - and that is before the Olympics head to Brisbane in 2032.

But Perkins admitted funding of athletes might need to improve to match rival nations, particularly in the ‘non-major’ sports.

While Australia invests $150 million a year into 35 performance programs, only $14.6 million goes in direct grants to athletes.

That means the average grant for an athlete is $16,000 a year, with the maximum any can get $35,000.

“Most athletes don’t make the equivalent of a minimum wage (from their sport) and almost all finish without any superannuation,” he told the press club.

“We want to ensure athletes are not significantly disadvantaged financially during their athletic careers while they pursue success in representing our country.

“The reality is, competing in contemporary international sport requires a full-time workload.

“Many other countries are providing the financial support needed for their athletes to obtain this.”

The two-time Olympic gold medallist confirmed the government had committed to $28.6 million funding over four years for the nation’s Winter Olympic and Paralympic teams, an Australian first.

Perkins also dispelled rumours the Australian Institute of Sport would move from its current Canberra headquarters to southeast Queensland ahead of the Brisbane Games.

But he said the 41-year-old campus needed revitalisation given the extreme demand on the facilities in recent times.

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But at a Queensland Media Club address on Wednesday, Liveris said which venues would be in that readiness stage by 2031 was still an open question.

“I’m a fan of the location of the Gabba being what it is – I like that idea as a Brisbane boy – ... but we don’t want to have a blown-out budget to do it,” he said.

“I’m sure that people responsible for looking at the cost, which is the government, will come eventually and say ‘this is the better plan’, and whatever the better plan is, we’ll take you through the process.”

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