Thursday, 30 October - Shine bright like a diamond

October 30, 2025

Good morning, it’s Thursday, 30 October. In your Squiz Today…

  • A jump in inflation stirs up interest rates chatter

  • Albanese gets a second helping of Trump at a “special” APEC dinner

  • And the Diamonds shine in NZ…

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Squiz the Weather

Squiz Sayings

“It totally lived up to the hype.”

Said some customers at a newly opened Wendy’s, which opened its second Oz location in Brisbane yesterday (the first was in Surfers Paradise). Locals were pumped, lining up at 5am to get their square burger fix - at that hour, it’d wanna be worth it…

No relaxation over inflation

The Squiz

The latest numbers from the Bureau of Stats raised some eyebrows yesterday, with annual inflation coming in over a full percentage point higher over the last 3 months. The headline number for the September quarter was 3.2%, up from 2.1% for the June quarter - the fourth-biggest jump in 4 decades - and the underlying inflation rate rose from 2.7% to 3%. That’s higher than most economists (and the Reserve Bank) had predicted, and it substantially lowered any expectation that the Bank will cut interest rates when they meet on Monday/Tuesday next week… 

What’s behind the big jump?

According to the analysts, it’s all about electricity prices… During the most recent quarter, new annual electricity price increases came into effect while several state electricity rebates around the country ended, meaning, you guessed it, power prices went up... But there were some other factors as well - the price of food and drink is rising sharply. Sorry to spill the tea, but all of our faves - coffee beans, tea and cocoa - have gone up 14.6% in a year. Analysts say that's because there's been less supply from overseas, which has helped local growers out a bit, but also pushed prices up. Off the back of the unexpected data, the stock market took a tumble, with the ASX200 (which tracks the top 200 listed Oz companies) dropping by 0.9%. 

And what’s the rest of the reaction been?

Treasurer Jim Chalmers noted that underlying inflation was higher but also that it was still within the Reserve Bank's 2-3% target range and has been for 3 quarters on the trot. But the Coalition's Treasury spokesman Ted O'Brien pointed out that "inflation and unemployment are above the RBA's forecast, creating a diabolical situation". Speaking of the Reserve Bank, it has long said 2 things about inflation data: first, that it takes these quarterly numbers more seriously than monthly updates, and second, that it wants to be confident underlying inflation will stay within its target range before it cuts rates. Now it's at the top of that band, economists and investors are scrubbing any chance of a cut this month - predictions for the next one range from December to May 2026. That's if the bank's next move even is a cut - some analysts have started talking about a rise…

Your holiday shop just got 10 times better

Skincare, perfume, gifts, whatever - Lotte Duty Free has 10x Qantas Points on online orders right now. Which means that the holiday shopping you were lining up is now working a lot harder for your next getaway. You can order from home or swing by any Lotte Duty Free location for the same duty-free prices - either way, the points stack up fast. Find out more here.

Squiz the Rest

The “storm of the century”...

…is what the World Meteorological Organization is calling Hurricane Melissa, which hammered Jamaica and parts of the Caribbean yesterday. Information is patchy due to huge blackouts in the worst-hit areas, but at least one death has been recorded in Jamaica of a baby, and 25 people have died in Haiti after a river burst its banks. The storm has been downgraded from a category 5 (the highest on the scale) to a category 2 as it moves towards the Bahamas this morning. Reports say people in Jamaica are stranded on rooftops, and 77% of the island is without power in the wake of Melissa, which brought winds of 295km/hr. The storm then passed over eastern Cuba as a category 2 hurricane, before weakening as it moved north-east. Experts say it's one of the most powerful storms on record in the Atlantic, and Jamaican local government minister Desmond McKenzie says recovery “is not going to be an easy road”. 

When one meeting just isn’t enough

After being under pressure to meet US President Donald Trump for months, PM Anthony Albanese is making a habit of it - sitting next to Trump at a private dinner for 8 world leaders on the sidelines of the APEC Summit in South Korea. That's a double helping of Trump in 2 weeks, after the PM's visit to the White House on 20 October. And it was all smiles again, with the President saying he and Albanese "had a great meeting a week ago" and "we're working on a lot of things together". The "special dinner” hosted by South Korea also included leaders from Canada, Singapore and New Zealand, and while Chinese President Xi Jinping wasn't there, his meeting with Trump is the big-ticket item up today. Xi will meet Trump in person for the first time since 2019, with trade the big issue on the table - and given they're the leaders of the 2 largest economies, the world will be watching that one closely too… 

Another update’s in the wind…

…after the Albanese Government told the Bureau of Meteorology (BOM) to fix its new website. The $4.1 million redesign has only been live for a week, but has copped tonnes of complaints, with farmers particularly vocal… Nationals leader David Littleproud said they're finding the site "difficult to navigate" with things like local river heights/rainfall data hard to spot. Victorian agronomist Malcolm Taylor went further - he said it's "clearly been designed by IT nerds who've got no understanding of the client's needs". Ouch... This week's storms in Queensland - which coincided with the site’s relaunch - added to the pushback, and the government has now ordered BOM to improve its “functionality and usability” urgently. BOM’s acting chief Peter Stone says they’re making changes but that it will take time for some users to adjust.

The Diamonds sparkle…

Our Aussie netballers have taken out a thrilling Constellation Cup victory in New Zealand, but it took extra time to do it after the 4-Test series finished 2-2. The Silver Ferns mounted a huge comeback in the last quarter of the final game to level the series 62-57 on their home turf, which took things to Series Decider Time, a 14-minute mini-match for all the marbles. It’s the first time that mini-match has been played in the Cup, and despite a loud hometown Kiwi crowd, Australia rallied and took out the win 12-11. But the winning moments were marred by an injury to Aussie Goal Defence Sunday Aryang, who hurt herself defending a long pass in the last second of the game. Despite the downbeat finish, captain Liz Watson said “we’re really proud to be able to finish with the Cup”, bringing it back home after NZ won the series in 2024. Go you good things… 

Calling for timeless gadgets…

On the off chance you’ve got a new invention you’re willing to part with for a century, the Powerhouse Museum in NSW is keen to hear from you… It’s planning a 100-year time capsule as part of the opening of its new premises in Parramatta in 2026. Specifically, it’s keen on things that represent scientific/tech innovation in 2025 - like a solar cell, or some augmented reality glasses. By way of example, the last time the Powerhouse buried a 100-year time capsule in 1981, the fresh new tech on the scene included a solar-powered calculator and the video game Space Invaders. Sadly, the offer isn’t open to just anyone - you need to be a scientist, academic or student from NSW, but if that happens to be you or someone you know, here’s where you can pitch your best ideas - and if someone comes up with the secret to eternal life, we might even get to see them open it…

Apropos of Nothing - Striking images edition

It's that time of the week when we update you on Robert Irwin's dance moves - this time he's gone full Halloween mode on US Dancing with the Stars, performing a spooky Argentine tango which ended with him covered in fake blood. The judges said he was “killin’ it”.   

Far scarier was this shiver of sharks having a feeding frenzy on bait in ankle-deep water at Snapper Rocks, a popular beach on Queensland's Gold Coast, on Tuesday. The overcast weather meant most people watched from the sand - except for this bloke…

Saudi Arabia plans to build the world’s first ‘sky stadium’ 350m above ground on top of a skyscraper - for context, that’s 40m higher than The Shard in London. They plan to have it ready for the 2034 soccer World Cup - take a look for yourself here…

Squiz the Day

8.00am (AEDT) - NSW Premier Chris Minns will deliver the keynote address at the Urban Development Institute of Australia State Conference - Sydney 

8.45am (AEDT) - The National Youth Health Showcase will be held at Parliament House - Canberra

9.00am (AEDT) - Coles CEO Leah Weckert will announce the company’s first quarter results - Sydney 

9.00am (AEST) - The Brisbane Magistrates Court will deliver a verdict in the case of 70yo bus driver Lindsay Francis Selby, who was charged over a crash that killed 18yo Tia Cameron - Brisbane

9.20am (AEDT) - The Super & Wealth Summit 2025, hosted by the Financial Review gets underway at the Fullerton Hotel - Sydney

10.00am (AEDT) - Woolworths will hold its Annual General Meeting (AGM) at the company’s offices in Bella Vista - Sydney

11.30am (AEDT) - Environment Minister Murray Watt will address the National Press Club on the reform of Australia’s environment laws - Canberra, stay tuned for a Shortcut on those changes out at midday today

12.15pm (AEDT) - Lowy Institute Research Director David Dutton will host discussions on geopolitical dynamics in Southeast Asia as part of the launch of the Southeast Asia Influence Index - Canberra

1.00pm (AWST) - Wesfarmers AGM will take place at the Perth Convention and Exhibition Centre - Perth

2.00pm (AEDT) - Cricket: Hobart Hurricanes play Brisbane Heat in the final of the T20 women’s Spring Challenge at Sydney Olympic Park - Sydney, watch on Kayo

6.00pm (AEDT) - The Department of Foreign Affairs and Trade will mark the 25th anniversary of the United Nations Security Council Resolution 1325 on Women, Peace and Security, which recognised the critical role of women in conflict prevention, peace building and post-conflict reconstruction - Canberra  

8.30pm (AEDT) - Cricket: Australia v India in the 2nd semi-final of the women’s ODI Cricket World Cup - Navi Mumbai, India, watch on Prime Video

US President Donald Trump and Chinese President Xi Jinping are set to meet face-to-face for the first time since 2019 on the sidelines of the APEC Leaders’ Meeting in Gyeongju, South Korea

ABS data releases: International Trade Price Indexes, September 2025, Deaths due to acute respiratory infections in Australia, September 2025

Blue Knot Day, supporting survivors of complex trauma

A birthday for ‘The Fonz’ actor Henry Winkler (1945), businesswoman Ivanka Trump (1981), and model Ashley Graham (1987)

Anniversary of:

  • Henry VII being crowned King of England (1485) 👑

  • the foundation of the Communist Party of Australia (1920)

  • Italian dictator Benito Mussolini forming government (1922)

  • the radio broadcast of HG Wells’ The War of the Worlds, narrated by Orson Welles (1938)