Australia Faces Rate Hike as Inflation Concerns Grow

Australia's Treasurer Jim Chalmers is defending his inflation record as the Reserve Bank of Australia (RBA) is expected to raise interest rates to a 15-year high. The RBA is seen as having little choice but to hike rates, partly due to the weakening US dollar. Meanwhile, a record number of households are installing clean energy systems, and the Waratah Super Battery is now operating at full capacity. In other news, private lender Metrics has cut the value of three funds and suspended three ASX-listed funds after an audit.