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The Reserve Bank has left the official interest rate on hold after a surprise jump in inflation, in a widely expected decision.
The RBA’s monetary policy board on Tuesday kept the cash rate at 3.6%, where it has sat since August. Economists and banks overwhelmingly expected no change.
The central bank has cut interest rates three times in 2025, easing pressure on mortgage holders and fuelling rapid house price rises.
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Core inflation rose to 3% – the top of the RBA’s preferred range – in September, the first acceleration of the underlying measure since 2022.
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The headline rate rose to 3.2%, including volatile categories such as electricity costs, which rose 9% in the quarter as government energy rebates ended.
The surprise bump in inflation dashed hopes that lower interest rates would be delivered to support the jobs market. Data in late September revealed a surprise increase in unemployment to 4.5%.
Financial markets over the last week have cut back their bets on another interest rate cut being handed down in the next 12 months. Major banks do not expect another cut until next year.
The RBA governor, Michele Bullock, was scheduled to address media on Tuesday afternoon to explain the board’s thinking.
U.S. President Donald Trump and Saudi Crown Prince and Prime Minister Mohammed Bin Salman shake hands during a Memorandum of Understanding (MOU) signing ceremony at the Royal Court in Riyadh on May 13, 2025.
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A protester at a department store in Paris where Shein plans to open its first permanent outlet
Online retail giant Shein says it has banned the sale of all sex dolls on its platform around the world, after being accused of displaying products with “a childlike appearance” on its website.
The French consumer watchdog first raised concerns at the weekend over the description and categorisation of the dolls, saying it left “little doubt as to the child pornography nature of the content.”
The company said on Monday that it has permanently banned “all seller accounts linked to illegal or non-compliant sex-doll products” and will tighten controls across its global platform.
Shein also says it has temporarily removed its adult products category as a precaution.
Every listing and image related to the sex dolls has been removed from Shein’s platform, the firm said.
The retailer added that it will conduct a thorough review, with plans to set stricter controls on sellers.
“The company has also strengthened its keyword blacklist to further prevent attempted circumvention of product listing restrictions by sellers,” said Shein.
The firm’s executive chairman Donald Tang said: “The fight against child exploitation is non-negotiable for Shein. These were marketplace listings from third-party sellers – but I take this personally.”
“We are tracing the source and will take swift, decisive action against those responsible.”
France’s Directorate General for Competition, Consumer Affairs and Fraud Control initially raised concerns about the listings on Saturday.
In response, Shein said it had removed the listings for childlike sex dolls as soon as it became aware of the issue and began an investigation over how the products were able to be offered for sales on its platform.
France’s finance minister threatened to ban the Singapore-based retailer from the country if it continued to sell the “child-like” dolls – days before the company was due to open its first permanent outlet in Paris.
People were seen protesting outside the BHV department store opposite Paris’s city hall, where the Shein outlet is set to open this week.
The brand has previously come under scrutiny over the environmental impact of fast-fashion and the working conditions of the people who make the products sold on the platform.
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