Yes, it’s that time of the month when the Reserve Bank decides your mortgage repayments. This time they’ve given us a breather. On Tuesday, the RBA kept official interest rates on hold at 4.1 per cent. BUT (yes, I deliberately put this in capitals) don’t think this is the end of the rate hike cycle.… Read more »
A raft of changes are coming into effect from 1 July – here’s what the new policies will mean to your hip pocket. The start of a new financial year brings an enormous number of changes… everything from superannuation and childcare to pay rises and paid parental leave. RateCity.com.au has compiled a list of major… Read more »
Now if you think I’ve been too hard on the Federal Government in blaming them for higher interest rates, the Reserve Bank is sort of backing me — in RBA-speak. My issue is that inflation is staying higher for longer because the Federal Government has been playing the good-cop role and encouraging big wage rises.… Read more »
Evidence is mounting of an economic recession here… but not in the US. As I’ve previously explained, the prospect of an economic recession in Australia is very real – not certain, but a good chance. And the economic data this week is reinforcing the possibility. An economy is a living, breathing temperature check I often… Read more »
I reckon the chances of Australia going into economic recession have increased significantly because of Tuesday’s rise in interest rates — caused by Federal Treasurer Jim Chalmers. Why? I remember back in 1990 when then Federal Treasurer Paul Keating said the economic crunch was “the recession we had to have”. Current Treasurer Jim Chalmers is… Read more »
Wages are rising but not at the same pace as inflation, which means the purchasing power of your money is going backwards. In fact, “real wages” growth has never been worse. You’re getting paid more cash, but your cash is buying less. While wage rises are stronger than normal, it is completely understandable if you’re… Read more »
With thanks to CommSec, let’s run through the ripple effect of this week’s Federal Budget 2023 on your share investments. Budget Measure: $14.6 billion cost-of-living relief package. Could boost consumer spending on electronics, clothing and groceries. The measures include welfare payments for the unemployed and single parents ($1.9 billion); one-off energy bill discounts ($3 billion);… Read more »
The RBA knows that any decision whether to raise or pause interest rates is tricky because you don’t want rate hikes to tip the economy over the edge into recession. This week they took a gamble by lifting rates another 0.25 per cent to 3.85 per cent. The Board has now delivered an incredible 375bp… Read more »
Well, that was a wild week. Nothing like a US banking crisis to get the pulse racing. Financial markets hate uncertainty and they particularly hate panic around banks. The panic caused by the collapse of Lehmann Bros back in 2008, which sparked the Global Financial Crisis (GFC), is still fresh in many people’s minds and… Read more »
Well, politicians just can’t keep their hands off our superannuation, can they? They encourage us to invest for our retirement, so they don’t need to pay us the aged pension and then constantly change the rules. I sort of agree with the Federal Treasurer that the person with $544 million doesn’t need all of us… Read more »
