RBA interest rate warning | Victorian car theft surges | ASX rallies on US rate cut hopes

Reserve Bank Governor Michele Bullock has warned Australian interest rates may not fall as far as some people expect because of a rise in consumer spending; Insurance data shows car theft in Victoria is climbing dramatically despite falls in other parts of the country; and the Australian sharemarket has its best day in a couple of weeks on hopes the US may indeed cut interest rates this month. 00:00 RBA Governor keeps eye on consumer spending 01:27 Australian sharemarket's best day in two weeks 03:05 Victoria sees an increase in motor theft claims Ricardo Gonçalves breaks down the day's financial news in On The Money. SBS News is Australia's trusted news source for the latest news from Australia and across the world. Subscribe to the SBS News YouTube channel: https://www.youtube.com/@SBSNews Follow SBS News on Instagram: https://www.instagram.com/sbsnews_au Follow SBS News on TikTok: https://www.tiktok.com/@sbsnews_au Follow SBS News on X: https://www.twitter.com/SBSNews Follow SBS News on Facebook: https://www.facebook.com/sbsnews Apple News: https://trib.al/MTx0gUe For the latest news, visit www.sbs.com.au/news Network Terms & Conditions: https://sbs.com.au/terms Privacy Policy: https://sbs.com.au/privacy Feedback or complaints: https://sbs.com.au/complaints