Reserve Bank of Australia Governor Bullock will hold a monetary policy press conference in 10 minutes.

Al Jazeera reports President Trump would consider easing sanctions and releasing frozen Iranian funds if there is concrete progress on Iran’s nuclear file. U.S. officials say Washington and Tehran are holding “active, constructive” talks via intermediaries but will not agree a deal unless nuclear issues are resolved. Officials add Iran has shown some flexibility on nuclear terms, but parties have not agreed on timing or implementation of commitments. Trump rejected Iran’s proposal to reopen the Strait of Hormuz as unacceptable and expects further talks this week. U.S. negotiators include Middle East envoy Witkoff, Jared Kushner, Vice President Vance and Secretary of State Rubio, according to officials. U.S. UN ambassador Mike Walz said Trump is skeptical that Iran would not seek full concessions upfront. White House officials said they remain cautious after Iran violated a July understanding by attacking commercial vessels.

Fed Governor Cook said AI-driven productivity gains will not promptly offset inflationary pressures spreading this year.