10 things you need to know this morning in Australia

Good morning all.

The RBA has left interest rates on hold at 0.1% – and a strongly rebounding economy means that's unlikely to change any time soon

The Reserve Bank of Australia (RBA) has kept the official cash rate on hold at 0.10% at its May meeting. While the RBA is now forecasting a stronger recovery and full employment to be achieved in two years, it isn't expected to touch interest rates for a few years yet.

Australian borrowers signed on for a record $30.2 billion in home loans in March as property prices skyrocketed

The value of new home loan commitments shot to a record high of $30.2 billion in March, the Australian Bureau of Statistics reports. Investor lending spiked 12.8% over the month to $7.8 billion, as Australia's housing market continued its jaw-dropping run.

Australian unicorn SafetyCulture is now worth $2.2 billion after another monster funding round, adding almost $1 billion in value in just 12 months

Workplace operations platform SafetyCulture has hit another milestone, minting a $2.2 billion valuation just 12 months after hitting its first billion.

'Cheaper than the bus': Rex, Virgin and Jetstar kick off a price war over Melbourne to Sydney flights, with fares as low as $39

Australia's airlines have sparked a price war on flights between Sydney and Melbourne in a bid to reignite domestic travel spending. Rex announced on Monday it would release a $39 ticket for the route, a move that was quickly matched by Virgin and Jetstar.

Scott Morrison says there's 'pretty much zero' chance of jail time for breaching the India travel ban, in a softening of the government's stance

Prime Minister Scott Morrison appeared to soften the government's stance on the harsh prison sentences and fines applicable to those who breach Australia's new travel ban.

eBay Australia is rolling out a new sneaker verification program, which it says will protect local buyers from counterfeit kicks

eBay is launching a third-party verification program that will allow US sneakers to be bought and shipped to Australia. The service opens up the massive US sneaker resale market, offering brands including Jordan, Yeezy, Nike, and Adidas to Australian shoppers.

How vodka soda brand Ampersand Projects changed direction when their popular pull-off lids went out of production

Ampersand Projects had to change direction when the popular pull-off lids for their ready-to-drink vodka sodas were discontinued during the pandemic.

JPMorgan CEO says that working remotely 'does not work' for young people and those who want to 'hustle'

JPMorgan's CEO said remote work made it harder for young people and those who hustle. He said he did not expect the working world to change dramatically because of the pandemic.

How a shipping container helped this Aboriginal-owned food truck business get through pandemic restrictions

Where a business starts and where it finds success can often be two very different places. Sometimes the original vision just isn't feasible or the world forces adaptation in order to survive. Whatever the case, it's safe to say the last year has forced the hands of many small Aussie business owners.

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