Iran's foreign minister and Japan's foreign minister held a phone call to discuss cooperation on security in the strait.

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Reserve Bank of Australia Governor Bullock said further rate hikes remain possible, noting inflation is still too high and the bank seeks to avoid entrenchment of higher inflation expectations. Analyst James Glynn said renewed Middle East tensions make the RBA’s hawkish signal unsurprising, with a heightened risk of another fuel-price shock and a least-cost policy path that may be further rate increases.