Peek into surprise RBA decision as rate cut on cards
Borrowers and mortgage holders are still reeling after its board flouted expectations and held the cash rate at 3.85 per cent in July.
But the release of tameeting minutes on Tuesday could shine a light on the reasoning and prepare financial markets for the central bank's next decision, which will be handed down on August 12.
It was expected to deliver a 25 basis point cut but instead came to a rate hold in a split decision as most board members were awaiting confirmation inflation was heading towards the 2.5 per cent midpoint of its target range.
Reserve Bank governor Michele Bullock is also expected to deliver a speech on Thursday that will provide answers for economists and ordinary Australians alike.
But many economic analysts believe an unanticipated jump in Australia's unemployment rate will likely force the RBA's hand at its August meeting.
The Australian Bureau of Statistics on Thursday revealed the jobless rate had jumped from 4.1 per cent to 4.3 per cent in June, defying market expectations it would hold steady for another month.
These figures were the last set of labour force data before the August decision and though many have noted it still reflects a relatively low unemployment rate, it also signals a softening in the market that the Reserve Bank did not expect until the year's end.
CreditorWatch's chief economist Ivan Colhoun said it marked a clear miss that made the July rates ruling appear "overly cautious" and that an August cut was "virtually locked in".
The increase in unemployment has been attributed to growing global uncertainty, with Treasurer Jim Chalmers pointing to international conflicts and the looming threat of US tariffs.
NAB's head of Australian economics Gareth Spence has said the RBA will continue to focus on domestic figures to guide its decision and is expecting cuts in August, November and February - eventually taking the cash rate to 3.1 per cent.
"We see the RBA remaining cautious," he said.
"The uncertain global backdrop sees a risk of faster and deeper cuts, although the domestic data has remained resilient to date."
But given the initial revelations about the July results, other economists like VanEck's head of investments Russel Chesler have stressed the importance of upcoming quarterly inflation figures as a "vital data point" that will determine the RBA's next decision.
The federal government is expecting the jobless rate to rise to the "middle fours" but Dr Chalmers maintains a soft landing is still the expectation.
Wall Street was meanwhile a little subdued to close the week, amid reports President Donald Trump is pushing for steep new tariffs on EU products.
Speculation over a minimum impost of between 15 per cent and 20 per cent in any deal with the European bloc sent US indices lower before a partial recovery on Friday.
The S&P 500 lost 0.57 points, or 0.01 per cent, to 6,296.79, and the Nasdaq Composite gained 10.01 points, or 0.05 per cent, to 20,895.66. The Dow Jones Industrial Average fell 142.30 points, or 0.32 per cent, to 44,342.19.
Australian share futures plunged 49 points, or 0.56 per cent, to 8,898.
However the benchmark S&P/ASX200 index on Friday gained 118.2 points, or 1.37 per cent, to 8,757.2, while the broader All Ordinaries rose 116 points, or 1.3 per cent, to 9,006.
The gains were the ASX200's biggest since a 4.5 per cent rally on April 10 and the first time it has crossed 8,700.
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Top End war games visit follows bilateral pact signing
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an hour ago
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Top End war games visit follows bilateral pact signing
With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth , he said . Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997.
The Advertiser
3 hours ago
- The Advertiser
Australian-developed electric Mini Moke now available
Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from:
