Trump rants against 'jihadist' midterm r...

Tuesday Headlines: 

• Melbourne Cup rate hike all but confirmed
• Australian author receives jail term for child exploitation offences
• Donald Trump goes on racist diatribe against Michigan Senate candidate
• Fridge temperatures soar as European supermarkets hit by another suspected cyber-attack
• British man has returned home to his mum, 28-years after setting off on a walk around the world

Deep Dive: There's a good chance you've never even heard of the government's Mid-Year Economic and Fiscal Outlook but talk about the December budget update has been ramping up as interest rates continue to go up.  

With a fifth cash rate hike expected to be announced this afternoon by the Reserve Bank, Labor and Anthony Albanese are under pressure to find savings in the upcoming MYEFO announcement.  

In this episode of The Briefing, Sacha Barbour Gatt is joined by Seven News Political Editor, Mark Riley, to discuss the update, whether it can make a difference to inflation and how the government can manage the nation's expectations amid a growing feeling of economic doom. 

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