Australia news live: Chalmers and Gallagher to present final budget outcome; RBA interest rate hike looms

The Reserve Bank is widely expected to raise the cash rate to 4.6 per cent on Tuesday, according to The Age and The Sydney Morning Herald. This would be the fourth hike of the year, aimed at addressing sticky inflation.

Treasurer Jim Chalmers and Finance Minister Katy Gallagher are set to present the final budget outcome.

Australia's auction clearance rate has declined to a 10-week low, as reported by Bloomberg, due to a long weekend in Melbourne and the threat of higher borrowing costs.

Brief written by urgent.news from Guardian Technology, The Guardian, The Age, The Sydney Morning Herald, Bloomberg — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.