Good morning. It’s Thursday 28th April, and here’s a round up of the latest news.
Interest rate tipped to rise
The official interest rate is tipped to rise in the middle of a federal election campaign for the first time since 2007.
for an annual inflation rate of 5.1 per cent, up from 3.5 per cent previously.
The latest CPI has the underlying rate of inflation at 3.7 per cent — a figure that smooths out volatile price swings and is more crucial to the interest rate outlook.
That's well above the Reserve Bank of Australia's (RBA) target range for the first time since 2010.
One way of bringing inflation down is to lift interest rates.
David Bassanese is the chief economist for fund management company Betashares.
He says while the RBA wants to see figures showing wages rising as well, next Tuesday's (3 May) monthly board meeting may be the time to act.
"The RBA is an inflation-targeting central bank. I think moving next week, after a high CPI, it really does cement in the public's mind how important inflation is and why it's important to keep it contained," Mr Bassanese said.
So, I think it makes better sense for the RBA to move on the back of a high CPI rather than on the back of a high wages number, if we were to get it."
Federal Treasurer Josh Frydenberg says international factors are to blame for the inflation surge.
But the Opposition says cost of living pressures have been building since before recent international events.
UN chief arrives in Kyiv
United Nations Secretary-General Antonio Guterres has arrived in Kyiv to meet with Ukraine's President Volodymyr Zelenskyy.
It follows his talks in Moscow with Russian President Vladimir Putin.
Mr Guterres said he will continue to "expand humanitarian support and secure the evacuation of civilians from conflict zones".
He said, "The sooner this war ends, the better — for the sake of Ukraine, Russia and the world."
United Nations Secretary-General Antonio Guterres. Source: Anadolu / Anadolu Agency via Getty Images
It's Russia's toughest retaliation against western economic sanctions following the invasion of Ukraine.
European Union president Ursula von der Leyen said the EU will protect its members from what it describes as a provocation and blackmail by Russia through its state-owned energy firm, Gazprom.
Aung San Suu Kyi's conviction criticised
Myanmar's ousted leader Aung San Suu Kyi's conviction and jailing has been criticised as "politically motivated".
In the first of several cases against Ms Suu Kyi, she has been convicted of corruption.
She denies the allegation she accepted gold and money given to her as a bribe by a top political colleague.
The elected Ms Suu Kyi was ousted by Myanmar's military last year.
The head of Burma Campaign UK is Wai Hnin Pwint Thon, and her father is in jail in Myanmar for political protest.
She said the former leader's jailing will be counterproductive for the country's military rulers.
"Arresting people doesn't create fear, it creates more anger in the public. Because, you know, everyone is determined, we can't live under another military dictatorship, we can't have these unlawful arrests continue. So it's completely doing the opposite than what the military hope for."
Prince Andrew stripped of Freedom of the City honour
The northern English city of York has stripped Prince Andrew of the Freedom of the City honour.
Local councillors have voted to remove the honour bestowed on the Duke of York, which was given in 1987.
It follows a United States lawsuit settlement earlier this year between the Prince and Virginia Giuffre, who accused him of sexually abusing her when she was a teenager.
Prince Andrew has denied the accusations.
York city councillor Darryl Smalley said "the honorary freedom" of York "is bestowed on those who represent the very best of York", and it's "inappropriate for Prince Andrew to retain any connection".
Experienced driver dies in Targa Tasmania crash
Race officials say a Brisbane man who died after crashing his car in the Targa Tasmania rally was an experienced driver and regular competitor.
Targa Tasmania CEO Mark Perry has described the tragedy as "shattering news".
An unnamed 59-year-old man died when his car travelled 20 metres down a steep embankment on a remote section of road at Mount Roland in the state's northwest.
The man's wife, who was his passenger, walked away from the crash and was taken to the hospital for observation.
Three people were killed in crashes at last year's event, prompting widespread changes to improve safety.
