Australia news live: Chalmers defends record as RBA’s cash rate decision due

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Besides the RBA decison at 2.30pm, the other big political story of the day is that Larissa Waters is standing down as Greens leader.

She said last night that a kidney disease she has been managing has recently worsened and that she needs to stand down.

We have a lot going for us and we’ve got a lot of work to do to make sure that in these difficult global circumstances Australia continues to out-perform the world.

We have a big inflation challenge in our economy. It’s made much worse by decisions taken on the other side of the world.