That’s a wrap – thank you for reading the Need to Know blog today. These were some of the main stories:

• The rate relief Australians need: Chalmers: Treasurer Jim Chalmers has welcomed the RBA’s decision to cut the interest rate to 4.1 per cent, saying Australians deserved a “rate relief”.
• Union boss accuses RBA of stuffing up previous rate decisions: Australia Council of Trade Unions secretary Sally McManus says she hopes the Reserve Bank doesn’t “stuff it up again”.
• Minns stands firm, rejects latest transport union offer: NSW Premier Chris Minns says he probably could have done a deal with the Rail Tram and Bus Union earlier, which would have been “in the interest of the Labor Party”, but it would have not been in the best interest of commuters and taxpayers.
• PM reaffirms RBA’s independence ahead of rates decision: Prime Minister Anthony Albanese has refused to give an opinion on the outcome of the highly anticipated Reserve Bank meeting.
• PM calls for train union to ‘see common sense’ and end dispute: Prime Minister Anthony Albanese says the Rail Tram and Bus Union needs to “see common sense” and settle their long-running wage dispute with the Minns government.
• Delta plane flips on landing at Toronto airport: A plane crashed at Toronto Pearson International Airport on Monday (Tuesday AEDT) and injured eight people, officials said.