Afternoon Update: Shock Nationals leadership challenge; inflation jump boosts rate hike chances; and a ‘massive smack’ of red jellies

Nationals MP Colin Boyce at Parliament House in Canberra. Photograph: Hilary Wardhaugh/Getty Images

Good afternoon.

Colin Boyce will move a motion to spill the Nationals leadership at a party room meeting on Monday and stand as a contender against David Littleproud – a challenge colleagues have dismissed as unlikely to succeed.