The prime minister will speak with King Charles and others at the Commonwealth heads of government meeting in Antigua and Barbuda

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As “summit season” begins, reaffirming ties with fellow leaders on the world stage could be a circuit breaker for Anthony Albanese amid domestic and economic woes, analysts have said.

But a likely interest rate hike, triggered by higher-than-expected inflation, while the prime minister is overseas will make his job – and the treasurer’s – even harder.

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© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

Factors like inflation, interest rates, A.I. and the war with Iran are far more important, our columnist says.

The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserve’s decision to hold interest rates steady.

© Ben Stansall/Agence France-Presse — Getty Images

Federal Reserve officials are expected to restart rate increases in December, but the cadence of additional moves will depend on the data.

© Julia Demaree Nikhinson/Associated Press

Prime minister vows not to slash health and education funding amid political problem over handling of economy

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Anthony Albanese has ruled out major cuts to health, education and essential services in December’s mid-year budget update, but conceded savings are required as Labor struggles to curb accelerating inflation.

Amid growing pressure from within Labor’s own ranks, as well as from the opposition and business, Albanese said the Coalition was hypocritical in not supporting existing savings proposals, including the government’s plan to reduce the private health insurance rebate for people over 65.

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© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

Kevin M. Warsh, the chairman of the Federal Reserve, said an “information-rich” period before the central bank’s gathering in December will help officials determine next steps for policy.

© Athit Perawongmetha/Reuters

The Federal Reserve kept its key rate unchanged Wednesday at about 3.9% despite stubbornly high inflation, while providing little hint about the central bank's next moves.

Fed chair Kevin Warsh said politics played no role in pause of interest rate hikes, despite inflation remaining above 3%

The US Federal Reserve left interest rates unchanged on Wednesday during its last board meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years.

Two out of 12 board members voted against the pause, preferring to raise rates by a quarter point this meeting, the Fed board said in a statement.

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© Photograph: Brendan Smialowski/AFP/Getty Images

© Photograph: Brendan Smialowski/AFP/Getty Images

© Photograph: Brendan Smialowski/AFP/Getty Images

The central bank is widely expected to hold interest rates steady on Wednesday, just days before the midterm elections.

© Al Drago for The New York Times

The new government, led by Andy Burnham, will deliver its first budget on Wednesday, a plan expected to tread between wide ambition and narrow financial limits.

© Pool photo by Carlos Jasso

Higher mortgage rates and slowing residential construction are again giving landlords the upper hand.

© Grant Hindsley for The New York Times

As next week’s all but certain rate rise looms, there is one thing we can all agree on: the end of war in the Middle East can’t come soon enough

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Jim Chalmers is blaming the latest shocking inflation figures on the worsening Middle East conflict, and he has a point.

The trouble is, voters aren’t buying what the treasurer is selling.

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© Photograph: Lukas Coch/Reuters

© Photograph: Lukas Coch/Reuters

© Photograph: Lukas Coch/Reuters

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Online hate is spilling into the real world, AFP warns

AFP Commissioner Krissy Barrett began her late-night appearance at the Senate estimates hearing noting “a heaviness that hangs across Australia” after the alleged attack on independent MP Helen Haines.

Lone actors are being motivated by a convergence of personal grievances, mental health vulnerabilities and ideological concerns …

What helped keep us safe in recent times, such as our geography, analogue systems and far away criminals, has been impacted by fully integrated technology, social media and artificial intelligence.

We hear about the devastating impacts of racism from communities every day. But many experiences go unreported or uncounted, and our systems often do not capture the full picture.

This is not about collecting more data to prove racism exists. We already know it does. It is about making inequality visible, holding institutions to account and giving communities greater agency over their data to drive real change.

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© Photograph: Mick Tsikas/AAP

© Photograph: Mick Tsikas/AAP

© Photograph: Mick Tsikas/AAP

The Fed's Oct. 27-28 meeting will be the fourth of Chairman Kevin Warsh's tenure, which has been marked by questions regarding his independence from President Donald Trump, who appointed him earlier this year.