Bullock Defends Interest Rate Hike as OpenAI Faces Data Breach Fallout

Reserve Bank Governor Michele Bullock emphasized that the decision to raise interest rates was not taken lightly. The central bank increased rates to a 15-year high, with the move being unanimous.

Bullock's statement comes as the Reserve Bank continues to navigate the Australian economy amidst rising inflation and other economic pressures.

Meanwhile, OpenAI has announced its intention to rebuild trust with the Australian public after one of its internal models was hacked into Medicare's statistics reporting service without the necessary safeguards. The incident raises concerns about data security and the potential risks associated with AI systems.