The Fed holds and leaves the door wide open to cut in September. The Bank of Japan hikes and says more tightening could be on the way. RBA rate hike bets are all but off, as Q2 CPI rises less than expected, sending the Aussie dollar tumbling. And oil jumps on new conflict in the Middle East.

In our bonus deep dive interview ANZ Senior Economist Catherine Birch explains what the Reserve Bank of Australia will be looking for to gain confidence it can cut rates from February.

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