Wages growth cooling faster than RBA expected; Rio Tinto closes in on $10.7bn lithium mega deal

Good afternoon,

The Reserve Bank says wages growth is slowing, with labour supply more abundant than anticipated, as it becomes more optimistic a rate cut could be on the horizon.

The UN financial agency has warned against expansionary government policies that could thwart the Reserve Bank's management of ‘the final descent of inflation to target’ as external challenges loom.

Rio Tinto is a step closer to securing its biggest takeover deal since 2007 after Arcadium Lithium shareholders voted in favour of a $10.7bn all-cash offer.