Economist and S&P Global’s former vice chairman Paul Sheard says the timing of Japan’s rate hike in 17 years is a “little odd.” Japan’s central bank scrapped its negative interest rate and has begun to unwind one of the world’s most aggressive monetary easing programmes, for the first time since 2007. “The Bank of Japan has made the judgement that now is sufficient confidence that it can make this move,” Mr Sheard told Sky News Australia Business Editor Edward Boyd. “The timing though is a little bit odd – in the sense that if they had waited until April, that’s when they have their major inflation reports. “It would have given them an extra month to observe whether these Spring wage negotiations were coming through as expected. “So, they were a little bit early.”

NSW Police Minister stays silent about the new media Chief, sentences for climate activists have been extended, flood watches remain for the NT as ex-tropical cyclone Megan is forecast to dissipate, ‘slim chance’ of parole for Keli Lane, independents call for HECS debt changes, Iraq mudslides cause devastation in Duhok, and a hospital staff allegedly breached Kate Middleton’s privacy. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.

One Nation Leader Pauline Hanson says Labor’s renewables push is sending businesses “overseas” as power prices continue to soar. “It is not just only households, but you are looking at businesses as well,” she said. “They are considering now moving overseas – we are losing a lot of industries and manufacturing to go into overseas countries, because of the escalating power prices. “I think it will hurt but Chris Bowen, absolutely useless, does not know what he is doing, he needs to go. “They are on this trajectory that it is going to be ‘our way’ … ‘you are going to suffer but hopefully we think that down the track it will get cheaper’, it is a joke. It won’t get cheaper.”

Mama Lana’s Community Foundation founder Lana Borg says the cost-of-living crisis is “taking its toll on everybody” as her charity struggles to cope with high power bills. Ms Borg said her Penrith charity cooks up to 400 meals a day. “The need for our meals is increasing everyday and it’s increased quite a lot since COVID,” she told Sky News host Chris Kenny. “We’ve just re-signed a three-year lease and it’s the first time in ten years that I’m actually thinking that maybe I should have rethought that, because we’ve only got enough money to last another year. “I don’t know what we’re going to do if the bills keep coming in this way.”

Sky News host Chris Kenny has weighed in on GB News host Nigel Farage’s exclusive interview with Donald Trump and the former president's comments on Australia’s Ambassador to the US Kevin Rudd. The former president said during the interview he heard Rudd was “nasty” and “not the brightest bulb”. “If he is at all hostile, he will not be there long,” he said. “Wow, the former president, who is the frontrunner at this stage to return to the White House, he's putting the mockers on our ambassador already,” Mr Kenny said. “Doesn't this just underline what a poor appointment Rudd was in the first place?” Mr Kenny said our government is now forced to stand by a US ambassador who is “flagrantly and colourfully antagonistic” towards the former president, who could be re-elected to the White House in November. “This all adds up to a looming diplomatic mess with our most important ally– and it is a mess that Kevin Rudd is in no position to fix.”

One person has died and three others have been injured in a house fire in North Queensland. Fire crews were called to the Hermit Park property around 11 pm on Tuesday. Neighbours tried to help the man trapped inside the Townsville home in the early hours of this morning. Queensland Police have confirmed firefighters found a body, believed to be a man, in the debris. An investigation is underway to determine the cause of the fire.

Former Olympian and Victorian Liberal MP has addressed speculation he could take the reins of the state Liberal Party as John Pesutto. There was speculation over the weekend in major newspapers that a leadership spill could come about due to legal cases that John Pesutto is facing. One of the purported challengers was Sam Groth who cleared up rumours in a press conference today. “At some point, yes, I would like to be part of the leadership of this party,” Mr Groth said. “Is that today? Absolutely not.”

Author Douglas Murray has blasted the “corrupt” South African government following his trip to the country. Mr Murray says the country has the “lowest education standards in Africa”. “Somalis are better educated than South Africans,” Mr Murray told Sky News Australia. “They’ve got more than 50 per cent youth unemployment. “These are the sorts of real-world effects of misgoverning in a country.”

Sky News host Andrew Bolt labelled Donald Trump’s civil fraud case “banana republic stuff” after a New York court threatened to seize the former president’s property if he fails to obtain a bond. This comes after 30 surety companies have reportedly declined to underwrite the bond of at least US$454 million. “If people can’t see through what’s going on, there is no hope for anyone,” Mr Bolt said. “This is Russia stuff; this is banana republic stuff.” Mr Bolt sat down with former White House press secretary Sean Spicer to discuss Donald Trump’s criminal case.

Author Douglas Murray has warned Extinction Rebellion activists cause “havoc” wherever they go and have “no sympathy” for people on the street. Extinction Rebellion protesters staged a major rally outside Flinders Street Station earlier this month where they blocked traffic and train lines. Mr Murray said they cause so much damage to their own cause that you would think the fossil fuel industry funds them. “They are so completely negative in what they push about,” he told Sky News host Rita Panahi. “They disrupt the normal citizenry of our countries from going about our lives, they disrupt people going to their jobs.”

Talk show host Stephen Colbert has mocked conspiracy theories surrounding Princess Catherine’s photoshop. Pressure has been mounting on the royals in recent weeks as the public calls for more transparency surrounding Princess Catherine’s surgery. This comes after footage emerged of Princess Kate visiting a farm shop near her home with Prince William amid speculation about her health and whereabouts. On CBS’s The Late Show with Stephen Colbert, the talk show host said the scandal could be put to rest as he showed a photoshopped photo of the princess skateboarding over a tiger. Talk show host Michael Kosta also mocked the photoshop conspiracy theories, saying it’s impossible to get three of your children smiling at the same time.

Interest rates in Japan have increased for the first time in 17 years. The central bank lifted the rate from below zero per cent to 0.1 per cent. The rate hike comes after an increase in wages and consumer prices. Negative interest rates were implemented in 2016 in a bid to stimulate the country’s stagnating economy. The hike means there are no longer any countries left with negative interest rates.

The Australian’s Media Writer Sophie Elsworth says Australia can’t cope with the rise in migration amid low housing supply. Economist Leith van Onselen told 2GB radio that Australian living standards are in “terminal decline” thanks to rapid immigration. He warned that the surge in migration is another sign that the population numbers are “out of control” as housing construction is “collapsing”. “We’re not building enough houses – we don’t have enough stock to house all these people,” Ms Elsworth told Sky News host Rita Panahi. “This is just a ticking time bomb – Australia cannot cope with this rise in population, rise in migration if we don’t have places for people to put their heads under.”

There has been a lot of speculation in the US press and markets that rates are ready to fall from June this year, according to Sky News Business Reporter Edward Boyd. The US Federal Reserve will meet on Wednesday to release its decision on rates. “For Australia, the expectation is September, perhaps a little later this year, we will see rate cuts from the RBA,” Mr Boyd said. “But the US Fed, there is a lot of hope that rates will start to go down around that month of June.” Mr Boyd also noted that inflation is becoming more of a challenge in the United States compared to Australia.

The Albanese government has removed two of Australia’s most senior intelligence bosses from a top security body. ASIO Director General Mike Burgess and ASIS Director General Kerri Hartland have been removed from the National Security Committee of Cabinet. Sky News Australia understands the director generals will be invited on a case-by-case basis but have both been removed as permanent members. The Coalition has criticised the move, with Shadow Home Affairs Minister James Paterson urging the government to “reverse this reckless decision urgently”. It comes after Mr Burgess uncovered bombshell revelations that a former MP had “sold out” Australia after being recruited by a sophisticated foreign intelligence network.

An out-of-control bushfire is threatening homes in the Perth Hills. The threat quickly escalated to emergency level late Tuesday after strong winds fanned the blaze northeast of Perth. It’s understood the fire has burned through nearly 400 hectares so far. There are fears Aboriginal sacred land might be destroyed. Authorities warn it may take several days before crews are able to contain the blaze.

Sky News Senior Reporter Caroline Marcus says Iran’s Revolutionary Guards have wrecked “absolute havoc” in the past couple of years as the government refuses to label the IRGC a terrorist organisation. According to bombshell documents obtained by Sky News, the government refused to label the group on the grounds that the IRGC is an organ of a nation’s state. The Coalition is mounting pressure on the Albanese government to follow through with the terror-naming process for the IRCG after US allies completed the progression in 2023. Iran’s Revolutionary Guards are at the core of terror operations throughout the Middle East, arming Hamas in Gaza, Hezbollah in Lebanon and the Houthis in Yemen. “Of course, Iran is the world’s leading state sponsor for terrorism,” Ms Marcus told Sky News host Rita Panahi.

A famous Japanese icon has become Tokyo’s newest police officer. Godzilla was appointed chief of a local police station for a day to promote traffic safety. The King of the Monsters is fresh off a win for best visual effects at the Oscars. The reptile walked the streets meeting with the public and fans. At the end of the day, Godzilla relinquished his position.

Tough new security laws have been passed in Hong Kong. The laws are set to bring the city more in line with mainland China. The laws were passed unanimously by Hong Kong’s legislature. Those found guilty of offences, such as treason and insurrection, could face life behind bars under the new laws. Authorities say the new laws will “plug loopholes” following mass protests in 2019.

The new face of James Bond may soon be made official. British-born actor Aaron Taylor-Johnson has officially been offered the role, according to UK tabloid The Sun. The 33-year-old would take over the role from Daniel Craig. Mr Craig starred as the MI6 spy for the past 15 years across five movies. The new actor is no stranger to action, having featured in Bullet Train.