Here is a look at what is making news around the country today.
Economy
Australians may see more RBA hikes in the coming months
National Australia Bank Ltd. CEO Ross McEwan said the Reserve Bank of Australia would hike interest rates three more times over the first half of the year due to continuing high inflation to limit the flow of credit, Bloomberg has reported. McEwan, however, remains confident that the country will not enter into a recession this year. The RBA is currently in its most assertive tightening cycle in decades. It has raised rates by 3.25 percentage points since May to a 10-year high.
Business
Australia’s electric vehicle sales record a 6.8 per cent market share
EVs have recorded the highest sales in Australia with 6.8 per cent vehicle market share with EV manufacturer Tesla selling 3,516 units or 60 per cent of EV units for February, The Driven has reported. A total of 88,878 vehicles were sold for the month with EV sales getting 5,932 of those. Overall, Tesla made up 4 per cent of overall sales. The company also accounted for 16.3 per cent of the total passenger market with its Model 3, totalling 2,671 sales for the month.
Defence
Australia says US technology is safe for the Aukus submarine deal
Australia has assured Washington that US technology will be safe under a plan to supply it with nuclear-powered submarines, Malaysia now has reported. Under the deal, the US and UK agreed to provide Australia with the technology and capability to deploy nuclear-powered submarines as part of joint efforts to counter the increasing threat posed by China in the Indo-Pacific region. Both US and UK are closely guarding their nuclear submarine programs. Australian defence officials said more work was needed to break down bureaucratic barriers to technology sharing in the Aukus deal.
Environment
March 5 marks Clean up Australia Day 2023
Thousands of Australians will be participating in the coming annual Clean up Australia Day this Sunday, The Mandurah Mail has reported. More than 20 million Australians have joined the clean-up event since it started in Sydney Harbour in 1989 and was joined by 40,000 Sydneysiders. Clean up Australia’s 2022 National Rubbish Report showed that plastics accounted for 63 per cent of the rubbish items removed from parks, schools, bushland, creeks, beaches and roadways, indicating a 17 per cent increase from 2021.
https://www.mandurahmail.com.au/story/8107176/aussies-rolling-up-their-sleeves-for-their-community/
Entertainment
Jacob Elordi and Pip Edwards attend the opening of the TAG Heuer store
Hundreds of fans swarmed the official opening of the TAG Heuer store at Rundle Mall in Adelaide after Aussie actor Jacob Elordi and fashion royalty Pip Edwards graced the event, The Advertiser reported. Mr Elordi is the Brisbane-born Elordi is the face of TAG Heuer Monaco and the timepiece giant’s global brand ambassador. Fashion entrepreneur Pip Edwards, the co-founder of the sportswear label P.E. Nation is also in Adelaide for the launch. The store reflects TAG Heuer’s 160-year heritage, avant-garde spirit and innovative engineering.
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