This is... not good for rates. No guarantee they'll hike them, but 'materially worse', is pretty stark.

Clearly both. Plus the property slowdown. Slow economic growth, plus cost inflation, means costs threaten to grow faster than income. And banking is essentially a technology business these days - putting it squarely in the path of AI disruption.

On a much lighter note, for those of us who need it, Marco Jansen is batting beautifully for South Africa in the Test against Australia right now. Some of the crispest stroke play I've seen in a while. #AUSvSA

He's scoring quickly, but with classic cricket strokes. One of the best on-drives I've seen in a while.

Credit where it's due. Hanson's original defence was wrong, and the time taken to fix it was too long, but she has apologised and told her team to make changes. The right result. Well done, Senator. (But if the apology is genuine, not hollow, future actions must reflect that.)

More gutless populism.

This is some first-rate backside-covering / apologism. Ley knew the rules of the game, as she says. But then complains about playing by them. Until we have leaders who refuse to play the game, the game will go on.