RBA deputy hints at rate cuts; Microsoft, Meta huge profits; copper falls most in 40 years

Friday 1 August 2025

The deputy governor of the RBA hints at a rate cut in a fortnight’s time, just as figures suggest a pickup in the retail and building sectors. 

And more, including:

• Microsoft and Meta announce huge quarterly profits. 
• Copper - the bellwether commodity - tumbles 20 per cent, the biggest intraday fall in nearly 40 years. 
• Virgin gives the green light for dogs and cats to travel with passengers in cabins. 
• Westpac takes over from Commonwealth bank, sponsoring Cricket Australia.

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