RBNZ: Future official cash rate (OCR) decisions will depend on incoming data, pricing behaviour and the degree to which the strength of economic activity feeds through to medium-term inf pressures.

UKMTO said it received a report of another incident in the Strait of Hormuz. The tanker reportedly encountered an attack by an unidentified drone and sustained minor damage; no casualties or environmental impact were reported. The vessel is proceeding to its next port of call.

Workers at BHP’s iron-ore export terminal in Port Hedland, Western Australia, will stage an eight-hour strike on July 16 after more than six months of failed negotiations, the union said. The action will involve operators and maintenance crews at the world’s largest iron-ore export port; staff are represented by the port workers’ union and are seeking recognition of specialist skills, compensation for arduous working conditions and significant personal costs. A BHP spokesperson said the company is focused on safety, maintaining efficient operations and reaching a fair, competitive and reasonable agreement, and added BHP has secured new enterprise agreements with about 1,800 regional mining employees that have not prompted strike action.