Good morning. Welcome to our live news coverage. I'm Martin Farrer, bringing you the key overnight developments, before Nick Visser takes over.
Extreme Heatwave Threatens Southern and Eastern Australia
Vast areas of southern and eastern Australia are preparing for severe conditions as the first of several days of extreme heat begins. Forecasters warn this could develop into the most intense heatwave since the catastrophic Black Summer bushfires.
Authorities are urging residents to take precautions against the dangerous temperatures expected to blanket the region.
Key Inflation Snapshot Due for Release
The first major economic indicator of the year is scheduled for release at 11.30am today. Economists predict it will show a modest slowdown in the annual inflation rate, from 3.8% to 3.6%.
However, analysts suggest this slight dip may not be sufficient to deter the Reserve Bank of Australia from considering another increase in interest rates in its efforts to stabilise the economy.
Human Remains Found on Western Australian Beach
In a separate and tragic development, human remains have been discovered on a beach in Western Australia. Police believe they are likely those of a snorkeller who went missing on New Year's Day.
Investigations are ongoing, with formal identification procedures to follow.
