Michele Bullock in the hot seat: five key takeaways, from inflation to the new $5 note

Appearing before the economics committee, Australia's new RBA governor is circumspect when questioned on the direction of interest rates, but leaves the door ajar for further rises

• Follow our Australia news live blog for latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

The Reserve Bank governor, Michele Bullock, has said that Labor's redesigned stage-three tax cuts will not have a material impact on inflation.

During three hours of questioning, in her first appearance before the parliamentary economics committee, Australia's first female governor was circumspect when questioned over the direction of interest rates, although she left the door ajar for further rises.

Sign up for Guardian Australia's free morning and afternoon email newsletters for your daily news roundup