Trump wins 2024 US presidential election as Republicans gain Senate control
Donald Trump has won the 2024 U.S. presidential election, securing over 270 Electoral College votes. This marks his return to the White House after his previous term. In Australia, Reserve Bank Assistant Governor Christopher Kent stated that Trump's presidency may lead to higher global interest rates. He noted that Trump's tax cuts could increase inflation and borrowing demands in the U.S. Kent also mentioned that Trump's election is strengthening the U.S. dollar while potentially slowing global growth due to tariffs. He highlighted uncertainty about the specifics of these tariffs and their impact on international trade.