1 00:00:03,880 --> 00:00:07,000 Speaker 1: It's Wednesday, the first of October twenty twenty five. Welcome 2 00:00:07,040 --> 00:00:09,600 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,600 --> 00:00:11,479 Speaker 1: where we give you the top five business stories you 4 00:00:11,560 --> 00:00:14,000 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:14,040 --> 00:00:14,880 Speaker 1: and good morning. 6 00:00:14,640 --> 00:00:18,400 Speaker 2: Sean Aylmer, Good morning, Michael Shawn. Five stories, five minutes. 7 00:00:18,440 --> 00:00:21,239 Speaker 2: Let's roll story number one. The Reserve Bank has sounded 8 00:00:21,239 --> 00:00:25,480 Speaker 2: a note of caution about inflationary pressures, wavering and confidence 9 00:00:25,480 --> 00:00:29,160 Speaker 2: about whether price rises are in fact under control and 10 00:00:29,520 --> 00:00:32,640 Speaker 2: unfortunately diminishing the chance of rate cuts later this year. 11 00:00:32,800 --> 00:00:34,880 Speaker 3: The Central Bank yes that I left the official cash 12 00:00:34,920 --> 00:00:37,559 Speaker 3: rate unchanged at three point six percent, warned that inflation 13 00:00:37,640 --> 00:00:40,560 Speaker 3: is on track to overshoot its forecasts. Not so good. 14 00:00:40,760 --> 00:00:43,040 Speaker 3: The Board said that the decline in underlying inflation had 15 00:00:43,080 --> 00:00:46,040 Speaker 3: slowed since its August meeting. In recent data, while partial 16 00:00:46,080 --> 00:00:49,360 Speaker 3: and volatile, suggests inflation might be higher than expected. The 17 00:00:49,400 --> 00:00:52,360 Speaker 3: Board statement said stronger than expected data on economic growth 18 00:00:52,400 --> 00:00:55,120 Speaker 3: and inflation could indicate that households have become more comfortable 19 00:00:55,160 --> 00:00:57,720 Speaker 3: spending as real incomes and wealth rise. If they're more 20 00:00:57,720 --> 00:00:59,720 Speaker 3: comfortable with that, business are more likely to pass on 21 00:00:59,760 --> 00:01:02,880 Speaker 3: cost increases. Michelle Bullock, the governor, in a press conference 22 00:01:02,920 --> 00:01:05,080 Speaker 3: after the meeting, says she's been surprised about some of 23 00:01:05,080 --> 00:01:08,160 Speaker 3: the inflation and growth data, just saying that it's been 24 00:01:08,600 --> 00:01:12,360 Speaker 3: higher than expected and services inflation has remained sticky in 25 00:01:12,440 --> 00:01:14,800 Speaker 3: terms of economic growth, she said it's good news and 26 00:01:14,840 --> 00:01:17,840 Speaker 3: supports yesterday's decision not to cut rates. 27 00:01:17,880 --> 00:01:20,080 Speaker 1: So what's the bottom line then, sean, are we going 28 00:01:20,120 --> 00:01:21,959 Speaker 1: to get more rate cuts in the future or not? 29 00:01:22,360 --> 00:01:24,920 Speaker 3: Well, Michelle Bullock says it's a meeting by meeting proposition. 30 00:01:25,080 --> 00:01:28,880 Speaker 3: The professional investors they bet on rate cuts in the 31 00:01:28,959 --> 00:01:31,600 Speaker 3: will not bet invest on the basis of what they 32 00:01:31,600 --> 00:01:34,760 Speaker 3: think will happen to rates in bond markets. The three 33 00:01:34,840 --> 00:01:37,240 Speaker 3: year bond rate rows slightly after the announcement to three 34 00:01:37,280 --> 00:01:40,759 Speaker 3: point six percent. What's that mean over the next three years? 35 00:01:40,920 --> 00:01:44,240 Speaker 3: Bond investors think that on average, interest rates will stay 36 00:01:44,360 --> 00:01:48,440 Speaker 3: around the current level. Now. The Reserve Bank Board next 37 00:01:48,440 --> 00:01:51,120 Speaker 3: meets on Melbourne Cup Day. If the September quarter inflation 38 00:01:51,200 --> 00:01:53,160 Speaker 3: data release later this month comes in around two and 39 00:01:53,160 --> 00:01:55,840 Speaker 3: a half percent, there probably will be a rate cut. 40 00:01:56,040 --> 00:01:59,640 Speaker 3: If it's higher than that, probably not. But as I say, 41 00:01:59,800 --> 00:02:02,840 Speaker 3: in over the next three years, professional investors think on 42 00:02:02,920 --> 00:02:04,960 Speaker 3: average rates will be what they are today. 43 00:02:05,240 --> 00:02:07,160 Speaker 1: Okay, moving on to sorry number two now, Sean and 44 00:02:07,200 --> 00:02:11,040 Speaker 1: Australia's housing market is heating up, with September delivering the 45 00:02:11,160 --> 00:02:14,880 Speaker 1: strongest monthly rise in national dwelling values since October twenty 46 00:02:14,919 --> 00:02:18,320 Speaker 1: twenty three. The Totality Home Value Index jumped zero point 47 00:02:18,400 --> 00:02:21,840 Speaker 1: eight percent last month, driven by capital city momentum and 48 00:02:21,919 --> 00:02:23,240 Speaker 1: record low listings. 49 00:02:23,919 --> 00:02:26,960 Speaker 3: It really is heating up on a quarterly basis two 50 00:02:27,040 --> 00:02:29,359 Speaker 3: point two percent for the September quarter. It's one point 51 00:02:29,440 --> 00:02:31,360 Speaker 3: five percent in the June quarter, one point one percent 52 00:02:31,360 --> 00:02:33,960 Speaker 3: in the March quarter. It just shows the trend is 53 00:02:34,000 --> 00:02:37,120 Speaker 3: your friend, Michael, and it's on the rise. Growth is 54 00:02:37,240 --> 00:02:40,000 Speaker 3: broad based. Every capital city and rest of state region 55 00:02:40,480 --> 00:02:44,160 Speaker 3: rows in terms of dwelling values over the quarter end 56 00:02:44,200 --> 00:02:46,640 Speaker 3: of month. In this instance, Perth and Risement are again 57 00:02:46,720 --> 00:02:49,760 Speaker 3: pulling ahead. Adelaide, the other hot city last year. Well, 58 00:02:49,760 --> 00:02:52,040 Speaker 3: that's still doing pretty well. It's quarterly increases two and 59 00:02:52,040 --> 00:02:54,720 Speaker 3: a half percent, Sydney's about two point one percent. Melbourne 60 00:02:54,880 --> 00:02:59,480 Speaker 3: having a great auction season, but actual price rises are 61 00:02:59,520 --> 00:03:02,399 Speaker 3: still just one percent over the quarter. The other will 62 00:03:02,480 --> 00:03:05,000 Speaker 3: stand out is Darwin price of up six percent over 63 00:03:05,160 --> 00:03:06,400 Speaker 3: the September quarter. 64 00:03:06,720 --> 00:03:11,880 Speaker 1: Story number three. Prime Minister Anthony Aberzi says Australia welcomes 65 00:03:12,040 --> 00:03:15,480 Speaker 1: US President Donald Trump's plan for a peace deal in Gaza, 66 00:03:16,080 --> 00:03:19,760 Speaker 1: highlighting that the plan would exclude her Mass from future 67 00:03:19,840 --> 00:03:21,080 Speaker 1: governance in Gaza. 68 00:03:21,480 --> 00:03:23,520 Speaker 3: The Prime Minister called on Harms to lay down its 69 00:03:23,520 --> 00:03:26,640 Speaker 3: weapons and release its remaining Israeli hostages, and commended the 70 00:03:26,639 --> 00:03:31,920 Speaker 3: plan's focus on Palestinian self determination and statehood. Albanzi added 71 00:03:32,000 --> 00:03:34,800 Speaker 3: the plan reflects a clear rejection of annexation and the 72 00:03:34,800 --> 00:03:38,360 Speaker 3: force displacement of Palestinians. He added that Australia urges all 73 00:03:38,400 --> 00:03:40,640 Speaker 3: parties to engage seriously with the plan and to work 74 00:03:40,680 --> 00:03:44,600 Speaker 3: to bring its vision into reality without delay. Broadly, the 75 00:03:44,640 --> 00:03:47,640 Speaker 3: plan begins with an immediate cessation of military operations and 76 00:03:47,640 --> 00:03:50,920 Speaker 3: says existing battle lines will be frozen in place. Har 77 00:03:51,000 --> 00:03:53,240 Speaker 3: Mass would lay down its arms, and its tunnels and 78 00:03:53,280 --> 00:03:58,920 Speaker 3: weapon production facilities would be destroyed. For every Israeli hostage released, 79 00:03:59,440 --> 00:04:01,600 Speaker 3: dead or a line over the next seventy two hours, 80 00:04:01,760 --> 00:04:06,160 Speaker 3: Israel will release fifteen gardens. The plan also stipulates that 81 00:04:06,240 --> 00:04:08,560 Speaker 3: once both sides agreed to the proposal, full aid will 82 00:04:08,600 --> 00:04:11,080 Speaker 3: be immediately sent to the Gaza Strip also something that 83 00:04:11,080 --> 00:04:14,760 Speaker 3: they're calling the Board of Peace, which is an oversight 84 00:04:14,760 --> 00:04:18,880 Speaker 3: committee run by Donald Trump and including former UK Prime 85 00:04:18,880 --> 00:04:22,800 Speaker 3: Minister Toney Blair that will oversee governance at Gaza. 86 00:04:23,560 --> 00:04:28,040 Speaker 1: Story number four sean seven West Media plans to merge 87 00:04:28,080 --> 00:04:31,560 Speaker 1: with Australia's biggest radio company, Southern Cross Media, to create 88 00:04:31,640 --> 00:04:34,680 Speaker 1: a four hundred and fifteen million dollar TV radio and 89 00:04:34,760 --> 00:04:37,719 Speaker 1: publishing group. As part of the deal, Kerry Stokes, the 90 00:04:37,720 --> 00:04:39,960 Speaker 1: founder of the seven Network, would exit. 91 00:04:40,000 --> 00:04:42,919 Speaker 3: So it brings together Southern Crosses assets things like Triple 92 00:04:42,920 --> 00:04:48,159 Speaker 3: AM Network, Hit Network in the Seven's assets, the West 93 00:04:48,200 --> 00:04:54,039 Speaker 3: Australian newspaper, seven Network, the TV broad freeware broadcaster, and 94 00:04:54,279 --> 00:04:57,159 Speaker 3: of course that one has the AFL and cricket broadcast 95 00:04:57,200 --> 00:05:01,240 Speaker 3: rights the shares. What would mean Southern Cross US shareholders 96 00:05:01,240 --> 00:05:04,279 Speaker 3: would have a slightly larger shareholding in the merged entity 97 00:05:04,720 --> 00:05:08,920 Speaker 3: than seven West Media obviously needs to get through regulatory approval. 98 00:05:08,960 --> 00:05:11,640 Speaker 3: It means that eighty five year old Kerry Stokes would 99 00:05:11,640 --> 00:05:15,799 Speaker 3: step down, though Ryan Stokes, his son, would still remain 100 00:05:15,839 --> 00:05:17,880 Speaker 3: a directive because the Stokes family would have a twenty 101 00:05:17,880 --> 00:05:18,479 Speaker 3: percent steak. 102 00:05:18,880 --> 00:05:22,080 Speaker 1: Last one, story number five, the US President Donald Trump 103 00:05:22,360 --> 00:05:26,159 Speaker 1: is slapping a one hundred percent tariff on films made 104 00:05:26,279 --> 00:05:30,440 Speaker 1: outside of the US. This is basically reiterating a threat 105 00:05:30,440 --> 00:05:33,080 Speaker 1: that he made earlier this year against the movie industry 106 00:05:33,080 --> 00:05:36,360 Speaker 1: and potentially harming our own Australian film industry. 107 00:05:36,520 --> 00:05:41,440 Speaker 3: That's right, because we definitely provide incentives for offshore producers 108 00:05:41,480 --> 00:05:43,880 Speaker 3: to come here. Mister Trump, who didn't provide details on 109 00:05:43,920 --> 00:05:46,400 Speaker 3: the tariffs, has argue that foreign countries have undermined the 110 00:05:46,480 --> 00:05:49,680 Speaker 3: US film industry by using tax incentives. It's unclear how 111 00:05:49,760 --> 00:05:52,720 Speaker 3: film tariffs would work because movies aren't physical goods that 112 00:05:52,800 --> 00:05:55,960 Speaker 3: travel through ports like most products subject to tariffs. Of course, 113 00:05:55,960 --> 00:05:58,560 Speaker 3: some of this is his biggest Hollywood productions mission Impossible, 114 00:05:58,600 --> 00:06:02,039 Speaker 3: the Final Reckoning, Jurassic World Rebirth were made primarily or 115 00:06:02,200 --> 00:06:05,240 Speaker 3: entirely outside the US. That's the sort of thing that's 116 00:06:05,279 --> 00:06:06,400 Speaker 3: irritated Donald Trump. 117 00:06:06,600 --> 00:06:08,720 Speaker 1: Okay, there we go to the top five business stories 118 00:06:08,720 --> 00:06:11,039 Speaker 1: in five minutes. Thank you Sean, thank you Michael. It 119 00:06:11,120 --> 00:06:13,559 Speaker 1: is Wednesday, the first of October twenty twenty five. Remember 120 00:06:13,560 --> 00:06:15,760 Speaker 1: to hit follow on the podcast, and if five minutes 121 00:06:15,800 --> 00:06:17,960 Speaker 1: isn't enough, you can find our longer daily show called 122 00:06:18,000 --> 00:06:20,839 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael 123 00:06:20,880 --> 00:06:22,960 Speaker 1: Thompson and that was the Fast five Business news by 124 00:06:23,000 --> 00:06:24,560 Speaker 1: Fear and Greed. Had a great day.