ANZ expects the Reserve Bank of Australia to deliver 25bps hikes in both September and November, with the September move lifting the cash rate to 4.60%. September would be the fourth 25bps increase this year and take rates to around a 15-year high; ANZ expects a further 25bps in November that would push rates to levels not seen since 2008. The call is driven by stubborn inflation from domestic demand outstripping supply and a recent U.S.-Iran conflict-driven spike in oil and gas prices that has

China FAW Group and Guangzhou Automobile Group (GAC) signed a strategic cooperation framework under which the two automakers will coordinate assets and capital and pursue technology-driven collaboration. The pact aims to deepen and broaden cooperation, promote cross-regional coordination of industrial resources, and lift operating quality and efficiency to accelerate upgrades in the China auto industry.

Iranian officials privately told sources they are skeptical Tehran and Washington can reach a pre-Nov. 3 agreement to end hostile actions and reopen the Strait of Hormuz. Talks held last week on the sidelines of the UN General Assembly in New York made limited progress, and Iran assesses the risk of escalation rises after the U.S. midterm elections. Iran says it remains willing to pursue diplomacy but does not trust the Trump administration to abide by any deal; U.S. officials are also described as skeptical. A source said Deputy Foreign Minister Abbas Araghchi met last week with U.S. envoys Jared Kushner and Witkoff and remains in the U.S. for further mediator-led discussions. Semi-official ISNA reported Araghchi will meet mediators Monday morning in New York to review recent proposals and exchange views, and said the U.S. will not send representatives to that meeting.