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In the face of a war and energy shock, it’s one of the toughest calls for any central bank to make. Should it focus on the risks to economic growth, or the spike in inflation?
The Reserve Bank had to weigh up these competing priorities from an uncomfortable starting point. Inflation was already well above its target, even before the war in the Middle East and the 40% spike in oil prices.
So the RBA yesterday opted to hike interest rates – but it was a close call, with five board members outvoting four who preferred to hold steady.
Governor Michele Bullock says the difference of opinion was a matter of timing, not direction. That suggests another rate rise in May is not certain.
But with inflation set to peak above 4%, economists are warning another increase is likely this year. As John Hawkins writes, much will depend on how long the war lasts.
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Victoria Thieberger
Business and Economics Editor
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John Hawkins, University of Canberra
The second rate hike this year will add another $100 a month to the average mortgage, just as fuel prices are surging.
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Shannon Bosch, Edith Cowan University
Afghanistan says at least 400 people were killed in a Pakistani strike on a hospital on Monday – the latest in a deadly year for medical staff and patients worldwide.
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Amin Saikal, Australian National University; The University of Western Australia; Victoria University
There are two possible ways the fighting might end.
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Rodrigo Praino, Flinders University
The US president’s language when talking about war is unlike that of any president before him.
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James Ley, The Conversation; Jo Case, The Conversation
These 5 books explore Iran’s Islamic Revolution through religion, politics, mythology and personal experience – and take you inside its prisons.
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Timothy Welch, University of Auckland, Waipapa Taumata Rau
New Zealand generates more than 85% of its electricity from renewable sources, but transport remains almost entirely chained to imported oil.
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James Quach, CSIRO
In quantum batteries, subunits take collective action to charge faster.
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Ilana Finefter-Rosenbluh, Monash University; Lucas Walsh, Monash University
At some schools, a significant number of parents never even open student reports.
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Mohsin Malik, Swinburne University of Technology; Guy Morrow, The University of Melbourne
New research finds streaming algorithms aren’t killing Australian music, but they do make it harder for emerging local artists to be discovered.
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Politics + Society
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Michelle Grattan, University of Canberra
The committee said it had consistently heard that the current design of the discount 'can distort decision-making and incentivise tax planning'.
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Robert Finkeldey, University of Technology Sydney
A new report assessing democratic values across more than 200 countries has found 6 billion people live in autocracies. Here’s where Australia sits.
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Todd Farrell, The University of Melbourne
The laws are time-consuming and labour-intensive to uphold. But their mere presence can elevate the tone of political campaigns.
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Matthew Mclaughlin, The University of Western Australia; Jo Salmon, Deakin University; Peter McCue, UNSW Sydney
For the first time in more than a decade, Australia has new physical activity guidelines. They’re commendable but unlikely to get us more active.
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Health + Medicine
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Ian Musgrave, Adelaide University
Wave action can produce aerosol droplets containing brevetoxins, and people with asthma are at risk.
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Jack Wilson, University of Sydney; Emily Stockings, University of Sydney
Increasing numbers of Australians are using medicinal cannabis for anxiety, depression, insomnia, substance disorders and more. Is it safe? And does it work?
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Michael Plank, University of Canterbury; Helen Petousis-Harris, University of Auckland, Waipapa Taumata Rau
COVID-19 hasn’t disappeared, but it’s no longer the health threat it was. Here’s what the latest wave means and who should get boosted.
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Environment + Energy
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Saman Gorji, Deakin University
As fuel prices rise, some remote communities feel the shock twice: first at the pump, then in the power supply.
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Science + Technology
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Richard J. Buning, The University of Queensland; Dorina Pojani, The University of Queensland; Tyler Riordan, The University of Queensland
A legal e-bike is just as safe as a regular bicycle, and shouldn’t be subjected to different rules.
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Eylem Altuntas, Western Sydney University
If a baby doesn’t show a clear response at a particular age, it does not necessarily mean they have stopped learning or missed an important step.
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Arts + Culture
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Jonathan Graffam-O’Meara, Monash University
A new play from Melbourne Theatre Company tells the story of the collapse of the bridge during construction in 1970 – Australia’s worst industrial disaster.
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Are we alone out there?
"The discovery of all five fundamental nucleobases in samples from the asteroid Ryugu is wonderful science and I'm all for it. This research adds evidence 'these ingredients for life may have been widespread throughout the Solar System in its early years'. But a paradox seems to exist – it's perhaps near impossible for the right conditions for life to appear, yet once it has done so (as on our world) its resilience for survival has so far proven indestructible."
Alex Nelson, NT
What are kitchens for?
"While Caroline Cumberbatch's basic premise that kitchen design today is about status and showcasing is correct, her solution is not. Kitchens are places of work. Socialising may occur, and can be allowed for, but not at the expense of getting things done. The purpose of island benches she disparages is to provide a place for those socialising that doesn't interfere with those working with kitchen equipment. My grandparents had a kitchen with a large dining table in the centre, but that was because they had no other space in their small house with 4 children. I remember that fondly but I doubt my grandmother did."
Anthony McPhee
AI and researchers
"The article on the impacts of AI on PhD apprenticeship makes a very pertinent point on hidden costs to student researchers. Here arises an interesting question. While PhD supervisors may enjoy productivity gains with AI, would the PhD research students be able to use AI to fill up any gaps left by the supervisors, and perhaps also make productivity gains? The gains by both parties could be so alluring that AI may be in the long run the ultimate winner as both the supervisors and students might bear cognitive costs of AI reliance, affecting their mental autonomy."
Ang Ung 
We'd love to hear from you. You can email us with your thoughts on our stories and each day we'll publish an edited selection.
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