All eyes will be on Anthony Albanese’s highly anticipated meeting with the Chinese president, Xi Jinping, scheduled for 7pm AEDT. Canberra is hoping for a “stabilising” reset after years of heightened tensions that saw China slap $20bn worth of sanctions on Australian goods. We’ll be live blogging the meeting and the following press conference, so do check in for updates.
In some welcome cost-of-living news, the Reserve Bank has signalled it may pause rate rises for the time being. The banks have certainly been cashing in on the higher rates, with the Commonwealth Bank reporting a $2.5bn profit last quarter – 13% more than it made in the same period last year.
