From the Daily Os. I'm Emma Gillespie, I'm Lucy Tassel. It's Tuesday, the twelfth of August. Here's what's making headlines this evening.
The Reserve Bank of Australia has cut the cash rate to three point six percent, down from three point eighty five percent. The cash rate is what the RBA charges banks for short term loans. It affects how much interest banks charge customers on their loans, for example, mortgages, which is why the figure is also referred to as interest rates. The Central Bank called its decision to cut rates by twenty five points quote appropriate as it forecasts inflation will
continue to moderate. However, the RBA said it remains cautious as quote uncertainty in the world economy remains elevated. It comes after last month's surprise decision to keep the cash rate on hold. At the time, the RBA said it needed to wait for a little more information.
Has confirmed it will revoke Australia's recognition of Palestinian statehood if elected. The opposition said it has serious concerns with Prime Minister Anthony Alberanese's plan to recognize the state of Palestine at a meeting of the UN General Assembly next month.
Opposition leader Susan Lee said recognizing Palestinian statehood quote without a proper peace process won't expedite the end of the conflict, deliver a two state solution, see the free flow of aid, support, the release of hostages, nor put an end to the terrorist group Hamas. Senior opposition figures have now agreed to oppose the government's decision and revoke it if the coalition forms government. Albanesi has defended Labour's plan and re emphasized
the need to quote, isolate and disarm Hamas. He said the international community is saying enough is enough. We need to move forward, and Israelis and Palestinians will benefit from that. French President Emmanuel Macron has welcomed Albanesi's decision, which follows similar deaths larations by the UK and Canada.
A Colombian presidential candidate shot during a political rally has died after two months in hospital. Senator Miguel Aribe, a member of a right wing party in Colombia, was shot in the head and leg at a campaign event in the capital of Bogata on the seventh of June. Doctors performed multiple surgeries on the thirty nine year old during
his nine weeks in intensive care. However, Oribe's wife confirmed his death on Monday in a social media post, thanking her late husband for quote a life full of love and for being the best father. The alleged gunman, a fifteen year old boy, is among seven people who have been arrested in relation to the shooting. The teenager has pleaded not guilty to one count of attempted murder.
And Today's Good News. A rubber duck race known as the Chicago ducky Darby has raised more than six hundred and sixty thousand Aussie dollars for Special Olympics Illinois. Than not for profit, it aims to quote transform the lives of people with intellectual disabilities, empowering them to realize their full potential in sports and in life. It's annual ducky Derby attracted more than eighty thousand participants this year, who each paid ten US dollars to adopt a rubber duck.
Hunters watched their ducks being dumped into the Chicago River for the thirty minute race before each and everyone was collected by volunteers and staff Throughout the river. Once collected, the ducks are washed and packed up to head to their next derby. Special Olympics Illinois thanked everyone who quote adopted a duck, showed up, cheered loud, and helped us celebrate twenty years of racing for inclusion.
That's the latest from the Daily oz newsroom. If you're looking for something else to listen to, you can check out today's deep dive on Australia's decision to recognize Palestinian statehood.
We will be back tomorrow with another deep dive, but until then, have a wonderful evening.
My name is Lily Maddon and I'm a proud Arunda Bunjelung Calkatin woman from Gadighl Country. The Daily oz acknowledges that this podcast is recorded on the lands of the Gadighl people and pays respect to all Aboriginal and torrest Rate island and nations. We pay our respects to the first peoples of these countries, both past and present.