Australia’s 10-year government bond yield traded below 5.3%, struggling to recover from a recent five-week low as investors awaited further clues on the policy outlook. Focus is on RBA Deputy Governor Andrew Hauser, who is due to speak this week and could provide insight into the prospects for a fifth rate hike this year. An RBA official recently noted that the labor market may be cooling faster than anticipated, though the next inflation report on October 28 remains key to the policy outlook. Core inflation in the third quarter is expected to rise above the RBA’s 2–3% target and its 3.3% forecast. Governor Michele Bullock and other officials will face lawmakers that day, offering an opportunity to address the latest figures. Markets now price in roughly a one-in-three chance of a November hike, rising to 56% for December. Meanwhile, elevated oil prices amid ongoing hostilities in the Middle East and Eastern Europe, heightened inflation concerns and pushed global yields higher.