Australia news live: Gallagher says final budget outcome will shave $6bn off deficit; RBA interest rate hike looms
TL;DR
Australian Finance Minister Katy Gallagher says the final budget outcome will cut the deficit by $6bn. At the same time, the Reserve Bank of Australia is expected to lift the cash rate to 4.6%, its highest level since 2011. The move would weigh on house prices and add more than $100 to typical monthly mortgage repayments. The Guardian's live blog tracks the day's political news from Australia.
Nauti's Take
A smaller deficit gives Canberra more room to fund AI and digital infrastructure programs, which is a real opportunity. The risk sits with rates: a cash rate of 4.6% makes capital for data centers and young AI companies more expensive.
For readers outside Australia this is mainly a macro signal, and the live blog's direct AI angle stays thin.
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