Good morning friends, I’m Sunil here in Sydney. Here’s what you need to know to start your day.
Australian Treasurer Jim Chalmers hopes to decide in July over the Reserve Bank governor, and incumbent Philip Lowe’s current term expires in less than three months. Whether Lowe is extended or replaced, the next head will face countless challenges. The RBA is carrying out its most aggressive policy tightening in more than 30 years and this month raised the cash rate to 4.1%, while warning of potential further hikes ahead.