USGS reports a magnitude 5.6 earthquake 224 km south of Suva, Fiji.

AMP chief economist Shane Oliver said Australia’s 30-year housing supercycle may be nearing its end. He cited a reversal in mortgage rates after three decades of decline toward a sustained upward trend, housing affordability at historic lows, the removal of most property tax concessions and a political tilt toward tighter immigration as material headwinds for prices. He added that a persistent housing shortage remains: building approvals have risen but remain well below the government’s annual target of 240,000 new homes.

Bank of England Governor Bailey said stronger coordination is needed to address risks arising from AI models.