1. Global inflation pressures easing in next 12-18 Months, says OECD
The OECD expects global inflation to slow in the coming year or two as central banks raise interest rates and pandemic-related supply disruptions wane, Secretary General Mathias Cormann said. “We do believe that over the next 12 to 18 months there will be an easing of inflationary pressures,” Cormann said during a video press conference after the OECD released its Economic Survey of New Zealand Tuesday in Wellington. “There will be monetary policy responses, there will be a gradual withdrawal of crisis-level fiscal support, but furthermore there will be a rebalancing of the global demand and supply equation.”

2. ScoMo pledges $2bn to 'commercialise ideas'
The Morrison government will dedicate $2bn towards commercialising ideas in priority areas of economic need, as well as promising up to $800 in incentive bonuses for aged care staff. The funding will be taken from the almost $16bn that was stowed away in December’s mid-year budget update titled Decisions Taken But Not Yet Announced. “Labor has slammed this pool of money as a slush fund for election bribes but Mr Morrison says the policy he will announce on Tuesday will be critical to better aligning the nation’s researchers and innovators with the government’s manufacturing priorities,” the AFR reports.

3. Defence analysts warn Russia is willing to roll the dice on Ukraine`
Russia is willing to risk “real financial harm” and all-out war to achieve its political objectives over Ukraine, defence analysts have said. Moscow has denied that it plans to invade neighbouring Ukraine despite having assembled approximately 100,000 troops at the border. On Sunday, Bob Menendez, chair of the US Senate Committee on Foreign Relations, told CNN that lawmakers were devising the “mother of all sanctions” against Russia.

4. Myanmar extends state of emergency
Soon before the one-year anniversary of the military coup that toppled the Aung San Suu Kyi-led civilian government, Myanmar’s junta on Monday formally extended the state of emergency until July 31, the National Defense and Security Council said in a statement. “Acting President Myint Swe approved the extension of the state of emergency upon military junta chief Min Aung Hlaing’s request, in order to prioritize state stability, the safety of the people and peace building,” Bloomberg reports. “Violence continues in some states and regions such as Kayah, Chin and Sagaing, and we’re making our utmost efforts to address it,” Min Aung Hlaing was quoted as saying in a broadcast on state-run MRTV.

5. ASX to rise after end-of-month rally on Wall St
ASX futures were up 16 points or 0.2% to 6884 near 7.40am AEDT. The local currency rebounded strongly, rising 1.1% and retopping US70¢. On Wall St: Dow +0.8%, S&P 500 +1.8%, Nasdaq +2.9%. 2-year yield: US 1.17%, Australia 0.85%. 10-year yield: US 1.79%, Australia 1.89%.