Australia news live: Anika Wells to map out aged care reforms; Philip Lowe to speak after rates rise

Reforms will aim to create a more sustainable funding system as population grows older, and Lowe to address economy’s ‘narrow path’. Follow live

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Parts of Victoria and South Australia are being warned to expect heavy rainfall today.

The heavy rain that’s already hit Western Australia is sweeping across the country, with South Australia’s Riverland and Murraylands warned to brace for heavy rainfall to last until Friday.

We want to see productivity get going. We have had the worst decade, I think, in productivity growth in the last 60 years in the previous decade so there’s a lot of work to do. We can’t turn that around in one year.

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