EU Energy Commissioner said there are no plans to impose an EU-wide windfall profit tax; such levies are better handled at the national level.

Reserve Bank of Australia raised the cash rate 25bp to 4.60% from 4.35% in its fourth hike this year. The MPC said an unresolved Middle East conflict is increasing inflation risks and that those risks are materialising; it did not rule out another rate rise in November — which would lift rates to their highest level since 2008. Markets will watch the impact of tighter policy on the labour market and house prices, which are likely to be the first to feel pressure.

Axios reports OpenAI will unveil an always-on AI agent at Developer Day.