Australia Briefing
Good morning, it’s Ainsley here with all the news you need to start your day.Today’s must-reads:• RBA set to keep rates unchanged• House pri
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Good morning, it’s Ainsley here with all the news you need to start your day.

Today’s must-reads:
• RBA set to keep rates unchanged
• House prices reach fresh high
• Regulators flag ASX compliance flaws

What's happening now

Economists surveyed by Bloomberg expect the Reserve Bank’s new monetary policy board will stand pat at 4.1% and stick with a cautious stance after easing for the first time in four years last month. The RBA’s meeting comes in the early days of an election campaign that opinion polls suggest will see a tight result at the May 3 ballot.

Australian home prices climbed to a fresh high in March buoyed by an interest-rate cut. The Home Value Index rose 0.4% last month, led by the key Sydney and Melbourne markets that “look to have turned a positive corner,” property consultancy CoreLogic said. Every major city in the country bar Hobart reported an increase.

Australia’s markets regulator and the central bank identified serious issues at exchange operator ASX related to trade settlement that they said need immediate action to resolve. The regulators highlighted concern about the speed and nature of ASX’s remediation actions following an incident in December, according to a joint statement yesterday. 

New Zealand is seeing “red hot” interest in its revamped golden visa program from the US and Europe as rising geopolitical tensions prompt wealthy people to consider options abroad, Immigration Minister Erica Stanford said. Applications for the Active Investor Plus visa open today in Wellington following an overhaul designed to make the program more appealing to affluent migrants.

What happened overnight

Here’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping…

US stocks and the dollar bounced amid confirmation Donald Trump will announce his “country-based” tariffs plan at the White House on Wednesday, leaving many investors sidelined given the uncertainty. The RBA will pass on easing rates later today until Australia’s conditions become more favorable. That view hasn’t saved the Aussie or kiwi dollars though, with both leading losses against their major currency peers overnight and respective monthly lows very much at risk.

The Trump administration will review Harvard University’s federal contracts and grants as part of an investigation into alleged antisemitism, expanding an effort that has also affected funds for Columbia University. The Harvard review includes $255.6 million in contracts and $8.7 billion in grants to the Ivy League university.

French far-right leader Marine Le Pen lashed out at the decision to bar her from running for elected office for five years, saying it effectively eliminated her from the 2027 presidential race. “The rule of law has been totally violated by this decision,” Le Pen said in an interview Monday on TF1. “I didn’t expect the judges would go that far against the democratic process.”

Amazon will resume metal-detector screening for employees leaving its warehouses — a theft-prevention measure suspended during the pandemic — and is asking workers to register their personal phones so security personnel know they aren’t stolen.

Finally, all joking and the Constitution aside,  Trump said he hasn’t ruled out running for a third term, writes Nia-Malika Henderson for Bloomberg Opinion. His comments about a third term should be taken very seriously and quite literally

What to watch

All times Sydney
• 09:00 a.m.: Australia March S&P Global Australia PMI Manufacturing 
• 11:30 a.m.: Australia Feb. Retail Sales 
• 02:30 p.m.: RBA Cash Rate Target

One more thing...

SpaceX is set to launch the first human spaceflight mission to fly over the Earth’s polar regions. The research mission, dubbed Fram2, will set off from Florida at 9:46 p.m. local time, funded and commanded by crypto investor Chun Wang.

The crew, including Chun Wang, right, during a rehearsal ahead of the Fram2 polar spaceflight. Photographer: SpaceX
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