Rapid antigen test. Source: Reuters
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • The Australian National Cabinet will meet today to discuss concerns over the new sub-variant of the Omicron COVID-19 strain
  • According to the World Health Organisation, the new BA.2 sub-variant of Omicron is more infectious based off initial data
  • This strain is becoming more prevalent in New South Wales with Health Minister Brad Hazzard warning daily cases in the state could more than double in six weeks
  • The federal government announced today it would invest $2.1 billion for the purchase of vaccines and protective kits, and to subsidise rapid antigen tests
  • The damage caused in the floods seen in Queensland and New South Wales will also be on the agenda at National Cabinet

The Australian National Cabinet will meet today to discuss concerns over the new sub-variant of the Omicron COVID-19 strain.

According to the World Health Organisation, the new BA.2 sub-variant of Omicron is more infectious based off initial data.

This strain is becoming more prevalent in New South Wales with Health Minister Brad Hazzard warning daily cases in the state could more than double in six weeks.

The federal government announced today it would invest $2.1 billion for the purchase of vaccines and protective kits, and to subsidise rapid antigen tests.

This is ahead of the flu season where there are increased concerns over both viruses circulating.

It will be the first time Australia has had to manage both viruses since the start of the pandemic as the country moves away from lockdowns and restrictions.

The damage caused in the floods seen in Queensland and New South Wales will also be on the agenda at National Cabinet.

As floodwaters retreat, the main focus turns towards clean up and sourcing temporary housing for victims.

More From The Market Online

KPMG Australia weighs major job cuts as scandal fallout deepens

KPMG Australia is reportedly preparing hundreds of job cuts and partner pay reductions after the fallout…
Japanese Yen

Japanese Yen sinks to a 40-year low as intervention fears return

The Japanese yen has fallen to its weakest level in almost four decades against the US…

Bullock: Hold call doesn’t rule out further tightening, if that’s required to beat inflation

Michele Bullock has made it very clear that the Reserve Bank is still strongly considering more rate hikes, especially if it’s the only