The Reserve Bank of Australia has kept interest rates unchanged at its final meeting of the year, citing persistent inflation and a tight labour market. The board's decision was unanimous, with future moves dependent on upcoming economic data.

Canberra

The Reserve Bank of Australia (RBA) decided to keep interest rates on hold at its final meeting of the year, with no consideration given to either a rate cut or a rate rise. The board's decision was unanimous, reflecting a cautious approach in light of ongoing concerns about inflation and labour market tightness.

Core inflation in October rose to 3.3%, remaining above the RBA's target band of 2-3%. The RBA indicated that future rate decisions will depend on whether inflation moderates, with the next meeting scheduled for February and key inflation figures set to be released in January.

RBA holds interest rates steady despite ongoing inflation

staying the course this Christmas. There was no cut on the table. We didn't explicitly consider the case for a rate rise at this meeting. Interest rates kept on hold again, the RBA board's decision unanimous in its final meeting of the year. The board's been very cautious this year as it sees policy. It's highlighted the possibility of upside risks in our assessments, particularly degree of tightness in the labour market. The big problem. Inflation's still the clear and present danger for the RBA. The RBA has done a good job to date to get inflation down towards the target band. However, recent data suggests that there's still more work to be done. That target is between two and 3%. In October, core inflation jumped to 3.3%. We wanna see this inflation moderate more. If inflation continues to be persistent and looks like it is not coming back down towards the board's target, then I think that does raise questions about how tight financial conditions are and the board might have to consider whether or not it's appropriate to keep interest rates where they are. The next RBA meeting isn't scheduled until February. As for what next year will bring, some economists say a rate hike could be on the cards. But if it does happen, it's not likely to be until mid-2026. If those inflation figures show some cooling, then the Reserve Bank will leave rates on hold. But if not, if inflation stays where it is or continues to rise, then we could well see a rate hike. Until then, all eyes will be on the next round of inflation figures, which are released in January. John Paul Gonzo, 10 News.

Thailand and Cambodia are blaming one another for starting a deadly exchange of fire that killed at least five people and threatens to unravel a U.S.-backed ceasefire between the neighbouring southeast Asian countries.

Surin

Thailand-Cambodia ceasefire could be unravelling

Paramount Skydance made a hostile takeover bid for Warner Bros. Discovery for $108 billion US just days after Netflix announced it made a $72-billion US deal with the legacy studio. It’s a move that even has U.S. President Donald Trump weighing in.

Hollywood

Paramount launches hostile takeover bid for Warner Bros.

President Trump announced Monday he will allow Nvidia to sell its advanced H200 computer chips to "approved customers" in China, but Mr. Trump said the deal does not include Nvidia's more advanced Blackwell system or its soon-to-be-released Rubin system.

Washington

Trump says he's letting Nvidia sell some AI chips to China

Ukraine's European allies put on a show of support for President Volodymyr Zelensky Monday as they expressed scepticism about parts of the U.S. proposal to end the war with Russia. The discussions came after President Donald Trump accused Zelensky of not reading his administration's proposal on a deal to end Russia's invasion following almost four years of war.

Downing Street

European allies back Zelensky after Trump criticism

A powerful 7.5-magnitude earthquake shook northeastern Japan late on Monday (December 8), prompting orders for about 90,000 residents to evacuate and tsunami warnings that hours later were downgraded to advisories.

Aomori

7.5-magnitude earthquake strikes Japan's northeast

Ukrainian President Volodymyr Zelenskiy said on Monday (December 8) that unity between Europe, Ukraine and the U.S. was important when negotiating an end to Russia's war in Ukraine. He made the remark during a visit to London.

London

Ukraine Invasion

Kyiv stresses European unity as allies 'skeptical' of U.S. peace plan

Ukrainian leader Volodymyr Zelenskyy and European allies prepared to hold talks in London on Monday (December 8), after President Donald Trump accused him of not reading the U.S. proposal to end the war with Russia.

Zelenskyy to meet European allies after Trump criticism

Thailand has launched airstrikes on Cambodian military sites as renewed border violence threatens a U.S.-backed peace deal.

Bangkok

Renewed border violence threatens Thai-Cambodia peace

South African authorities have withdrawn a 90-day visa exemption for Palestinians, saying the recent arrival of a charter flight with 153 people onboard was part of a campaign of “forced migration.”

Johannesburg

Middle East Conflict

South Africa withdraws 90-days visa exemption for Palestinians

Chinese and Japanese ties came under further strain after a Chinese fighter aircraft trained fire-control radar on Japanese military jets for the first time.

Okinawa

Chinese fighter jet locks radar on Japan planes

A military coup declared in Benin on Sunday has failed, the country’s interior minister said, just hours after soldiers took over state television to announce the dissolution of government.

Porto-Novo

Benin coup attempt thwarted by soldiers loyal to Republic

Hong Kong's citizens were voting on Sunday in an election where the focus is on turnout, with residents grieving and traumatized after the city's worst fire in nearly 80 years and the authorities scrambling to avoid a broader public backlash.

Hong Kong Island

Hong Kong holds tightly guarded election amid anger over deadly fire

A U.S. envoy says territorial claims remain a sticking point in a proposed peace deal between Russia and Ukraine. The U.S.-led meetings have ended; meanwhile, Russia launched a massive strike on central Ukraine early Sunday.

Kyiv

U.S.-led peace talks wrap as Russia launches strike on Ukraine

Russia targeted Ukraine's energy infrastructure overnight, meaning another winter of power outages for Ukrainians as Vladimir Putin tries to crush their resolve. Holly Williams reports.

Moscow

Russia targets Ukraine's energy infrastructure

Defense Secretary Pete Hegseth doubled down on U.S. military strikes on alleged drug boats, saying President Trump can take decisive military action as he sees fit. Willie James Inman reports on the latest.

Pete Hegseth on boat strikes: "We will find you and we will sink you"

To crackdown on so-called “narcoterrorists”, the US has slowly but steadily been building up its military presence in the Caribbean. 15,000 troops are now stationed in the area, many in Puerto Rico.

Ponce

U.S boosts military presence in Puerto Rico amid Venezuela tensions

Residents in the Indonesian region of Aceh Tamiang have been struggling to get aid while mourning the loss of their loved ones, as the death toll from floods and landslides that hit Sumatra island this month rose to more than 900 people.

Jakarta

Indonesian families mourn loved ones as flood deaths pass 900

Ukrainian President Volodymyr Zelenskiy said on Saturday that he had had a long and "substantive" phone call with U.S. President Donald Trump's special envoy Steve Witkoff and Trump's son-in-law Jared Kushner.

Zelenskyy says he had 'substantive' phone call with U.S's Witkoff

Netflix is set to buy Warner Bros. in a deal valued at $72 billion, but the announcement has sparked concern among industry workers.

Netflix acquisition of Warner Bros. sparks industry concern

The man suspected of placing pipe bombs around Washington, D.C., on Jan. 5, 2021, had his first court appearance on Friday after he was arrested Thursday following a five-year manhunt. A judge ordered the suspect to remain in jail pending future hearings.

Judge orders D.C pipe bomb suspect to remain in jail

A 22-year-old woman who says she was born and raised in the United States tells "CBS Saturday Morning" about being chased down the street by U.S. Customs and Border Protection agents as the Trump administration's New Orleans immigration crackdown ramps up.

New Orleans

ICE crackdown in New Orleans ramps up

One of the world's most influential architects Frank Gehry has died at the age of 96. Known for his whimsical, unpredictable style, he rose to fame with his titanium design for the Guggenheim Museum in Bilbao.

Bilbao

Influential architect Frank Gehry dies, 96

At least eleven people are dead after a mass shooting at a shebeen (an unlicensed bar), in Saulsville, a township just west of South Africa's administrative capital Pretoria.

Saulsville

Several killed in mass shooting west of South Africa's capital

The United States is warning its NATO allies that Europe must take on more of its own defence, and fast. According to an exclusive Reuters report, the Pentagon has set an ambitious 2027 deadline for European nations to assume most of the alliance’s conventional military capabilities.

U.S. threatens NATO withdrawal if Europe doesn't take lead by 2027

The U.S. Supreme Court has agreed to decide the legality of President Donald Trump's directive to restrict birthright citizenship in the United States, a contentious part of his efforts to curb immigration and a step that would alter how a 19th century constitutional provision has long been understood.

U.S. Supreme Court takes up birthright citizenship case

The Centers for Disease Control and Prevention's vaccine advisory panel voted to change the recommendation for when children should get their first dose of the hepatitis B vaccine. Meg Oliver has more.

Shift in decades-long guidance on hepatitis B vaccine

Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday at an annual summit and agreed to diversify mutual economic ties, as the United States presses India to revise its decades-old partnership with Russia.

Delhi

Russia-India sign trade agreements despite pressure from the West

It's a deal described as the beginning of a new path to peace. Leaders from Rwanda and the Democratic Republic of Congo have signed an agreement aiming to end the long-running conflict in eastern DRC. U.S. President Donald Trump hosted the leaders in Washington, DC.

DR Congo-Rwanda peace deal: Leaders sign accord alongside U.S.

The Pentagon announced another strike against an alleged drug-carrying boat in the eastern Pacific Ocean. This comes as lawmakers react to a classified briefing on the controversial Sept. 2 strikes targeting a vessel near Venezuela.

Pentagon announces new boat strike

New evidence was presented in court in connection with the case against Luigi Mangione, the man accused of shooting UnitedHealthcare CEO Brian Thompson. CBS News' Katrina Kaufman reports.

Breakdown