Australia news live: Peter Dutton labels students who appeal visa cancellations ‘modern version of boat arrivals’

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Our economics correspondent has been looking at the RBA’s financial stability review as I mentioned at the top of the blog.

Here is his full report:

And here is that news from China about efforts to kickstart the declining housing market there that has been one of the biggest drags on its economy – and therefore a big potential problem for Australia’s economy.

For migrants on bridging visas like Sukhdeep Kaur and Jaswinder Singh, the need to reapply every three months brings mental torture.

They have been telling our reporter Rafqa Touma about the dilemma of having to visit dying parents in India and risk not being allowed back into Australia for three years, or not seeing their parents again.

Jaswinder has just returned to India to see his elderly father leaving Sukhdeep at home where she can only talk on the phone to her mother who has cancer. “We are just breathing. We are not living. We are dying inside,” she says.

Read Rafqa’s full report here:

Welcome

Good morning, this is Martin Farrer welcoming you to the live blog. We’ve made it to the end of the week and Rafqa Touma will be here to take you towards the finishing line after I’ve flagged up some of the best overnight stories.

Peter Dutton has described the rise in the number of international students appealing against the cancellation of their visa with the aim of extending their stay in Australia as the “modern version of the boat arrivals”. In the same interview, he called for the University of Sydney vice-chancellor, Mark Scott, to resign, saying he would do so if he had “any shred of integrity”. More coming up.

And the slowdown in China was yesterday identified by the Reserve Bank as one of the key external threats to the Australian economy when it released its six-monthly review of financial stability. Our economics correspondent Peter Hannam has been looking at the risk factors after the RBA spelled out what it might take to make mortgage holders unable to repay their debt. But overnight there was some potential change when the government in Beijing announced its second stimulus package of the week, this time aimed at propping up the moribund housing market. More on that too.

Australia’s major supermarkets provide broadly similar products, prices and loyalty programs in an oligopolistic market that may limit competition, the ACCC has found in its interim report on the sector. We will have more reaction coming up.