Squiz Today The Reserve Bank lifts rates, and a hot new planet enters the universe
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Mar 17, 2026 A deep dive into the Reserve Bank raising the cash rate and what that means for mortgages and renters. A Senate CGT inquiry and the housing debate take centre stage. International tension rises with reported killings of Iranian leaders and a burning Russian tanker drifts in the Arctic. Sports fans get a soccer final preview. Astronomers announce a newly discovered molten lava world 35 light years away.
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RBA Raises Rates Amid Split Decision
- The Reserve Bank raised the cash rate 0.25 percentage points to 4.1% in a 5-4 split to tackle inflation running at 3.8%.
- Governor Michelle Bullock cited pre-existing high inflation and Middle East fuel price pressures, warning of recession risk if inflation stays high.
Rate Rise Hits Vulnerable Households First
- The rate rise will particularly squeeze renters and low-income households and could force tough budget choices.
- Treasurer Jim Chalmers expects government support where possible, while Coalition warned government spending fuels inflation.
CGT Discount Blamed For Housing Demand Distortion
- Senate inquiry recommends scaling back the capital gains tax (CGT) discount, finding it directs investment into housing and keeps first-time buyers out.
- Liberal senators disagreed, blaming supply shortages instead and pushing this into budget debate.