Wednesday, 9 July - Signed, sealed, delivered, I'm yours

Good morning, it’s Wednesday, 9 July. In your Squiz Today…

• The Reserve Bank opts against a rate cut

• US President Donald Trump gets a surprise dinner gift

• And an American twist on Paris Fashion Week…

🎧 Listen to the podcast

🤓 This email will take you 5 minutes to read

Squiz the Weather

Squiz Sayings

Said Matildas player Charli Grant who scored last night’s match-winner for Australia in the 91st minute against Panama in Perth. The 3-2 win was a leveller for the Tillies after a shock loss in the first game of the friendly series. All’s fair in love and soccer…

A surprise interest rate decision

The Squiz

The Reserve Bank of Australia has zagged where most expected it to zig, by keeping the official interest rate on hold at 3.85%. As we mentioned yesterday, most economists and investors thought a cut to 3.6% was in the wind, but no dice… As for why, Governor Michele Bullock said that the Reserve Bank wasn’t confident enough that inflation - the rate at which things get more expensive - would stay within its preferred range of 2-3%, so it’s chosen to keep its scissors stored away for the moment. 

Give me some more detail on that…

Bullock said that the changing global trade policies (like the recent return of US President Donald Trump’s Liberation Day tariffs) are "still expected to have an adverse effect on global economic activity", so that uncertainty is giving it some pause. It's also worried about productivity - it says compared to what they produce, Aussie workers are currently pretty expensive - and that may lead to higher than expected inflation. With all of that in mind, the board decided now wasn't quite the right time to cut, and it wants to wait for the next batch of quarterly inflation data from the Australian Bureau of Stats. That's due on 30 July, which comes a couple of weeks before the Reserve Bank next meets on 11 August.

And what’s the reaction been?

Treasurer Jim Chalmers said he wasn't going to second-guess the Reserve Bank, but did note that it wasn't the result that "millions of Australians were hoping for". But that issue of productivity the bank mentioned is high on his agenda - in August, the government will hold a productivity roundtable to try to fix some of these issues (and Bullock will be there). Coalition treasury spokesman Ted O’Brien will be there too - he said Labor’s “failure to boost productivity” was a factor in interest rates staying where they are. And one final fact - for the first time, the Reserve Bank published the voting stats of its decision, and it wasn’t unanimous - the 9 members of the board were split, voting 6-3 for the hold. We’ll see how that changes at the next meeting in August…

Stocking up on some visuals...

You know what jill-of-all-trades/small business owners/people working in comms/marketing need? Great visual assets in one convenient spot. iStock’s put together a handy set of tools to help you get that sorted fast. From quality stock photos and video, to a new AI option, it’s all easy to use and doesn’t need a big budget. Check out your options here.

Squiz the Rest

Not your average dinner party gift…

Israeli PM Benjamin Netanyahu has taken the custom a step further for his dinner at the White House, presenting his host, US President Donald Trump, with a Nobel Peace Prize nomination… It’s something Trump has been hoping for, saying he deserves it for his efforts to bring peace to the Middle East - and Netanyahu agrees. He’s in the US for meetings with Trump and other senior officials, primarily to talk about the US-led 60-day ceasefire proposal between Israel and Hamas. And while he’s there, representatives from both parties are in Qatar to hold negotiations over that deal with the help of mediators. Trump says the talks have been “going along very well” - but we’re still waiting on an official outcome…

Arrests made in Melbourne

Police have charged 3 people with assault, affray, riotous behaviour and criminal damage after they allegedly stormed an Israeli restaurant in the city last Friday night. The trio - a 50yo man, 48yo woman and a 28yo woman - haven't been named, but they were arrested after raids on apartments in the suburbs of Essendon, Footscray and Richmond yesterday. They'll appear in court later this year. Police say they were part of a group of about 20 protestors who walked to the Miznon Israeli restaurant on Friday, chanting anti-Israeli military slogans, throwing food and damaging windows. Protest organisers said Miznon was targeted for its co-owner’s ties to the controversial Gaza Humanitarian Foundation - but its owners said the incident has “had a profound impact on our restaurant and staff”.

Indigenous leaders push for action

If you’re in Tassie, you’ll know the state election campaign - called after last month’s no-confidence motion against Premier Jeremy Rockliff - is in full swing, with 10 days until voters head to the polls. And although budgetary issues are dominating the campaign, Indigenous policy could play a part… The Tasmanian Aboriginal Centre (TAC) has taken aim at the 2 major parties for what it says is long-term inaction on state Indigenous issues. TAC’s Nala Mansell says “we’ve seen no land returned … from the Liberal government, and we've seen no promises or even acknowledgement by Labor”. Their push for action comes as NAIDOC Week (which honours the history, culture, and achievements of Aboriginal and Torres Strait Islander peoples…) is underway. It’s a notable one, marking its 50-year anniversary.

Questions over an inspirational tale

If you’re a film-lover or a book-clubber, there’s a good chance you’ve come across Raynor Winn’s The Salt Path, the 2018 book that was turned into a film starring Gillian Anderson, which is in some Oz cinemas now. It's the story of Winn and her husband Moth, and their 1000km walk along the UK's South West Coast Path after a bad investment led to the couple selling their house, and Moth was diagnosed with a terminal illness. But Winn is now defending that story after a piece from the Observer this week alleged both Raynor and Moth are using fake names, that Raynor had been accused of theft and raised questions over Moth’s illness. Winn denies all of that - she said “Today’s Observer article is highly misleading” and she’ll be taking legal action. One to watch… 

An American in Paris Fashion Week

Last week was all about the men’s Paris Fashion Week shows, and now, we’re onto haute couture… And although it’s being held in the land of croissants and berets, reports say there’s a distinctly American influence - with US designers taking the reins at Schiaparelli and Celine, 2 fashion houses who kicked off the autumn/winter 2026 haute couture shows. You can take a look through some of the Schiaparelli looks here (described as “war-inspired futurism”...) and the Celine looks here (featuring a lot of silk scarves). But as is often the case, it was the celebrities in attendance who drew a lot of eyeballs. US rapper Cardi B is a memorable one - not only for her gown’s waterfall of pearls, but also for the live crow she held on the red carpet. Moira Rose would be proud…

Apropos of Nothing - Smooth moves edition

Novak Djokovic has a new post-match tradition - dancing with his kids. The Serbian champ’s new dancing habit is inspired by his daughter Tara, and even though he performed it after beating Aussie Alex de Minaur, it’s still pretty cute…  

Speaking of sporting traditions, when the Blues run out for the State of Origin decider tonight they’ll be ditching one - they won’t use the underground tunnel this year to walk to Accor Stadium. Captain Isaah Yeo says it’s so they don’t get too hyped before the game starts… 

And a French Olympic fencer has successfully dodged a doping violation after launching a kissing defence - Ysaora Thibus said she tested positive for ostarine because her partner was using it, and it was transferred to her via smooch. You’ve really gotta be en your garde…

Squiz the Day

9.00am (AEST) - RBA Deputy Governor Andrew House will speak at the Australian Conference of Economics on 'What Has Australian Macroeconomic Thought Achieved in the Past Century - and where can it contribute in the next?' - Sydney

11.30am (AEST) - John Grimes, Chief Executive of the Smart Energy Council, will address the National Press Club on “Power politics: The political power of Australia’s renewable energy industry” - Canberra

1.30pm (AEST) - Spotify will release its inaugural global impact report, 'Turn Up Aus'- Sydney

4.30pm (AEST) - A Last Post ceremony at the Australian War Memorial will commemorate 2 Marrawarri soldiers killed in World War II - Canberra

7.45pm (AEST) - Rugby Union: British & Irish Lions take on the ACT Brumbies - Canberra, watch on Stan Sport

8.05pm (AEST) - NRL: Men's State of Origin Game 3 at Accor Stadium - Sydney, watch on 9Now or Kayo

A hearing is expected to take place for the notorious drug king El Chapo's son over charges of drug trafficking. He’s intending to plead guilty - Texas

ABS data release - Building approvals, May 2025

Independence Day in Argentina and South Sudan

Constitution Day - commemorating when the Constitution of Australia was approved in 1900

A birthday for actor Tom Hanks (1956)

Anniversary of:

• the first Wimbledon tennis championship (1877)

• the engagement of Britain’s Princess Elizabeth and Lieutenant Philip Mountbatten (1947)

• the premiere of the original UK version of The Office (2001)