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EVENING UPDATE

Treasurer Scott Morrison is about to deliver his first federal budget – which could be key to the Coalition’s hopes of staying in power.

 

The Reserve Bank has slashed interest rates to the historic low of 1.75 per cent, to help push inflation into its target range.

 

The Eels are reeling after being stripped of their competition points and fined $1-million over salary cap rorts.

 

And A-list stars have stepped out for the event known as the Oscars of fashion – the Met Gala in New York.

 

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