Brisbane news live: Colourful cast of conservatives heading to Brisbane

The Australian sharemarket is set to slide on opening following the Reserve Bank’s surprise decision to hold interest rates steady, a move that caught many traders and economists off guard.

Yesterday, the Reserve Bank shocked experts (and many homeowners) when it announced it would not cut rates.

It was the first time in the bank’s history that a vote on a rate decision was made public, revealing a split between those who wanted to stick at 3.85 per cent and those who believe more relief is needed due to easing inflation pressures and the threat posed by the Trump tariff agenda.

Reserve Bank of Australia governor Michele Bullock.Credit: Dominic Lorrimer

Governor Michele Bullock said while the bank did not cut rates on Tuesday, further rate relief was likely, with the outcome of the June quarter inflation report – released at the end of the month – the key factor.

“The decision today … was about timing rather than direction,” she said.

Treasurer Jim Chalmers said people would be disappointed that the bank had not cut rates.

“There will be millions of Australians around the country who were desperately hoping for more rate relief today, in addition to the two rate cuts that we’ve already seen over the last five months,” he said.

Read more here.

A colourful cast of conservative political figures from around the globe is Brisbane-bound.

The Australian Conservative Political Action Conference – better known as CPAC – will be held at The Star at Queens Wharf in September.

International speakers include founder of US lobby group “Moms for America”, Kimberly Fletcher, home-schooling advocate Corey DeAngelis, Scottish comedian Leo Kearse, Hungarian political analyst Doctor Miklós Szánthó, British financial writer Dominic Frisby and Chairman of the Japanese Conservative Union Jay Aeba.

Queensland MP Amanda Stoker and “No” campaigner Warren Mundine are among the locally-sourced talent.

The primary speakers are yet to be announced.

Former British prime minister Liz Truss in Brisbane for CPAC in 2024.

Last year Liz Truss, British Prime Minister for 49 days, headlined proceedings.

CPAC Australia 2025 will be on September 20 and 21. Ticket prices start at $119, and reach $7000 for all-access passes.

In what is forecast to be the warmest day of the week, Brisbanites can look forward to a warm Wednesday, with a top temperature of 25 degrees.

There should be barely any wind in the River City, too, making for a pleasant winter’s day.

Enjoy it – from tomorrow, the daily maximums will fail to climb past the low 20s, and by the weekend, the overnight minimums will again plunge into the single digits.

Here’s the seven-day outlook:

Good morning, welcome to Brisbane Times’ live news coverage for Wednesday, July 9. Today will be mostly sunny with a top temperature of 25 degrees.

In this morning’s local headlines:

Racing Queensland has insisted it takes animal welfare seriously following damning criticism of its new $85 million facility, which has been dubbed Australia’s “deadliest” greyhound track.

The Q officially opened last month, at a cost of more than $80 million.Credit: The Q

A Broncos PR worker who guided the club through Ezra Mam’s drug-driving crisis has herself admitted to crashing into parked cars while more than three times over the legal alcohol limit.

A group of teachers and small business owners will be allowed to fight the COVID-era vaccination mandate after they won an appeal against the Queensland government.

And the State of Origin series decider kicks off at 8pm tonight. The NSW Blues hold the biggest advantage of all when it comes to Origin tactics and strategy, writes Andrew Johns. But that might not matter.

Also, once battling to find his footing, Xavier Willison’s transformation into the Broncos’ saviour – propelled by Payne Haas’ mentorship – is now crucial to their top-four hopes.