The Reserve Bank has today decided to keep the cash rate on hold, delivering a major blow to mortgage owners. It is not the result Treasurer Jim Chalmers wanted, but he insists relief may still be on the way.

Canberra

The Reserve Bank of Australia (RBA) has decided to keep the official cash rate on hold at 3.85%, contrary to expectations from economists and major banks who anticipated a rate cut. The decision was influenced by global uncertainty, particularly concerns over the impact of US tariffs, and the need for further economic data before making changes.

The RBA board revealed that six members voted to maintain the rate, while three supported a cut, highlighting a divided but transparent decision-making process. The announcement comes as Australian households continue to face significant cost of living pressures, with attention now turning to upcoming quarterly inflation data that may influence future rate decisions.

Blow to homeowners after RBA holds interest rate

In the heart of Hobart, the Prime Minister visits another urgent care clinic. We're getting past triage though, is that right? But today, a sickening blow for homeowners. The official cash rate this afternoon unexpectedly kept on hold, remaining at 3.85%. The decision today was about timing rather than direction. This is not the outcome that millions of Australians were hoping for, or the outcome that economists or the market was expecting. The global uncertainty, namely around the impact of US tariffs, calls for pause for the RBA. But this is a very fluid situation, and we will continue to watch the data. All four major banks and most economists had tip to cut. This is a bombshell hold from the RBA. And exploding hopes of budget relief at home. Well, it's better than it going up, so... When you have children living at home with you, because of the cost of living, it's very important. I would have loved it to go down, but it's not about me, it's about the whole economy. Today's shock decision was clearly a tough call to make for the Reserve Bank, for the first time revealing how exactly the board voted. Six members were in favour of keeping rates as they are, but three members wanted a cut. There was really good active debate in the boardroom. I welcome the transparency that comes from the publication of those votes. All eyes now on the quarterly inflation data that comes out at the end of the month. Australian households are on their knees. Industries are collapsing, businesses are falling over. The board has decided to wait for more information. In a hope that the next decision, due in August, brings better news. Chances are, in the favour of future cuts, we just don't know exactly when. Matthew Carstuenen, 10 News.

U.S. President Donald Trump, hosting Israeli Prime Minister Benjamin Netanyahu at the White House, said the United States had scheduled talks with Iran and indicated progress on a controversial effort to relocate Palestinians out of Gaza.

Washington

Middle East Conflict

Netanyahu meets Trump as Israel, Hamas discuss ceasefire

Search teams continue to look for survivors after catastrophic flash floods overwhelmed parts of the US state of Texas. About 100 people have been killed and dozens more are missing. Officials say the National Weather Service didn't provide enough warning of the heavy rain.

Texas

Rising Texas death toll fuels anger over 'inadequate warning'

Leaders of BRICS have warned of the dangers of tariffs - saying they don't want a confrontation with US President Donald Trump. The group of emerging nations made the comments at their summit in Brazil. They also discussed Gaza and tensions in the Middle East.

Rio de Janeiro

Global Tariffs

BRICS summit rejects U.S. tariff threats, tackles trade and Gaza

Video captured by a BBC News crew shows French police slashing a boat filled with migrants trying to cross into the U.K. The crackdown comes ahead of a summit this week between the French president and British prime minister.

London

French police slashing migrants’ boat in crackdown

President Donald Trump's Justice Department and FBI released a memo concluding that there is no evidence Jeffrey Epstein had a "client list." The FBI confirmed that more than 1,000 victims were harmed by Epstein.

FBI: Epstein investigation turned up no 'incriminating client list'

The death toll from the devastating floods in Texas has risen to at least 90 as rescue workers continue to search for dozens of missing people. At least 27 campers and counselors at Camp Mystic in central Texas died in the floods.

Kerrville

At least 90 people killed in Texas floods

A shooter is dead after opening fire at a U.S. Border Patrol building in McAllen, Texas, a Department of Homeland Security spokesperson said. CBS News' Shanelle Kaul has the latest updates.

McAllen

Shooter killed after opening fire at U.S. Border Patrol building

Israel’s military launched airstrikes early on Monday targeting ports and facilities held by Yemen’s Houthi rebels. The strikes followed a suspected Houthi attack on a ship in the Red Sea.

Sana'a

Israel strikes Yemen ports held by Houthi rebels

Israeli Prime Minister Benjamin Netanyahu is set to meet with U.S. President Trump at the White House on Monday. The two leaders are expected to discuss the ongoing conflict in Gaza and a potential ceasefire with Hamas.

Netanyahu set to meet Trump at White House amid ceasefire optimism

U.S. President Donald Trump's 90-day pause on global tariffs announced in April is nearing its expiration, and the White House warned that steeper tariffs could roll out at the beginning of August.

White House warns higher tariffs could roll out August 1

Erin Patterson, the Australian woman accused of killing three relatives with a meal of death cap mushrooms baked in a Beef Wellington lunch, has been found guilty of three counts of murder and the attempted murder of the lone survivor.

Morwell

Australian woman found guilty in ‘mushroom murder’ trial

Camp Mystic, an all-girls summer camp along the Guadalupe River, has confirmed that at least 27 campers and counselors died in the devastating floods that hit the Texas camp.

Hunt

Camp Mystic confirms 27 campers, counselors killed in floods

President Donald Trump called Elon Musk's plans to form a new political party "ridiculous," launching new barbs at the tech billionaire.

Trump criticizes Musk's new 'America Party' as feud grows

Rescuers are searching for more than 40 people still missing, after flooding in the US state of Texas. The death toll has risen to at least 82, including 28 children - many of them from a summer camp. President Donald Trump has declared the area a disaster zone.

Death toll from Texas floods rises to 82, dozens still missing

BRICS leaders set to discuss key global political issues, but questions over the bloc’s cohesion arose as Chinese President Xi Jinping and Russian President Vladimir Putin opted to skip the summit.

State of Rio de Janeiro

BRICS group slams tariffs, Iran conflict at summit in Brazil

The search for missing children from a girls' summer camp hit by flash floods in Texas entered a third day on Sunday, as rescuers faced the threat of more flooding and the death toll in the region reached at least 67.

Texas officials face questions over flood warnings

Search and rescue missions continue in Kerr County, Texas, after severe storms caused deadly flooding that has killed dozens of people. More than 20 children from the nearby Camp Mystic are still missing, officials say.

Texas campground owner describes flash floods: "It was just chaos"

Tesla and SpaceX CEO Elon Musk says he has formed a new political party after falling out with U.S. President Donald Trump over the "One Big Beautiful Bill."

Elon Musk launches 'American Party'

Israel has sent a delegation to Qatar for new indirect talks on a possible hostage and ceasefire deal despite Israeli Prime Minister Benjamin Netanyahu saying the changes requested by Hamas to a previous proposal were "unacceptable."

Doha

Israel, Hamas delegations resume truce talks over Gaza in Doha

Iran’s Supreme Leader Ayatollah Ali Khamenei received an enthusiastic welcome at a mosque in Tehran as he made his first public appearance since the start of the 12-day war between Israel and Iran.

Tehran

Iran's Supreme Leader makes first public appearance since war started

Search-and-rescue operations are expected to continue as the death toll continues to rise from Friday's flash flooding in central Texas, with authorities confirming at least 50 deaths so far, 15 of those children. Among the missing are girls from a Christian summer camp.

Death toll rises as search for Texas flood survivors continues

Rescuers are searching for survivors of a flash flood that hit central Texas on Friday, leaving at least 43 people dead, including 15 children. Authorities in Texas are now facing questions about whether they issued proper warnings in advance of rain-fuelled flooding.

Death toll from Texas flooding rises to 43

Experts link the rising frequency and intensity of heatwaves in Europe to climate change, warning that such extreme weather events are becoming increasingly common.

Athens

Firefighters across Europe battle wildfires

Rallies on the streets of Tel Aviv were held as the Israeli security cabinet reportedly gathered to discuss Hamas' response to a potential ceasefire-hostage deal.

Tel Aviv-Yafo

Tel Aviv rally calls for the release of the remaining hostages

Ukrainian President Volodymyr Zelenskiy said on Saturday (July 5) that his latest conversation with U.S. President Donald Trump this week was the best and "most productive" he has had to date.

Kyiv

Ukraine Invasion

Zelenskyy says latest Trump call the 'most productive' yet

The unemployment rate for new college graduates has recently surged. Economists say businesses are now replacing entry-level jobs with artificial intelligence. Ali Bauman has the story.

Cambridge

Unemployment surges as employers replace new hires with AI

Israeli Prime Minister Benjamin Netanyahu said he is sending a delegation to Qatar on Sunday for talks on a possible ceasefire deal. Hamas calls the latest response "positive." Meanwhile, Israeli strikes on Saturday killed at least 14 in Gaza.

Renewed momentum for Israel-Hamas ceasefire in Gaza

The deadline is fast approaching for countries to make new tariff agreements with the U.S. or face a higher rate. The Trump administration is putting them on notice.

Trump turns attention to trade after major legislative win

The funeral proceedings of the late football players Diogo Jota and his brother Andre Silva took place in the church of Gondomar in their hometown in the east of Porto. Family members, teammates and coaches joined thousands of mourners to pay their final respects.

Gondomar

Thousands gather to bid farewell to Liverpool's Diogo Jota

McMahon's most recent projects included Netflix's whodunit "The Residence" and the Nicolas Cage drama "The Surfer," which premiered earlier in the year at SXSW.