New Zealand will take 150 refugees from Australia each year for three years, settling a deal first struck by former prime minister Julia Gillard almost a decade ago.

The works will help counter China's increasing reach into the region and will be completed with the help of the US navy, the head of Papua New Guinea's Defence Force says.

The deputy leader of the Nationals says the party has struck a deal to allow more foreign workers into Australia to work on farms, hinting that an agriculture-specific visa could soon be announced.

The Reserve Bank is holding the line on low interest rates for years to come, but some economists warn the risks of an inflation "rebirth" are rising, an issue the US central bank will be discussing this week.

AOC boss and IOC vice-president John Coates says he expects the Japanese public will get on board with hosting the Olympic Games again once the country boosts its vaccination numbers.