Australia Rate Cut Looms, Climate Talk Rivalry, US-Iran Latest

Good morning, it’s Angus here in Sydney. Here’s what you need to know to start your Thursday.

Today’s must-reads:
• Another rate cut more likely
• Australia gets rival to host UN climate talks
• Trump says US to meet Iran next week

A gauge of Australia’s monthly inflation cooled faster than anticipated in May, moving close to the bottom of the Reserve Bank’s 2-3% target and cementing the case for an interest-rate cut as soon as next month. Official data showed the Consumer Price Index indicator rose just 2.1%, slower than the Bloomberg consensus of 2.3%.