Finance News Wrap

Mon, 7th Oct 2024


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This episode of the Financial Services Online Weekly Finance News Wrap discusses key occurrences in Australia's financial sector. The Reserve Bank of Australia has held its interest rates at a 12-year high, with no cuts expected until 2025, while inflation remains within target range. ANZ settled an $85 million dispute linked to commission practices of its former car financing sector and proposes a $14 million settlement for issues associated with superannuation fund investments. The podcast also addresses the ongoing ASIC investigation, requiring large Australian banks to reimburse $28 million due to unfair fees. On a global level, encouraging U.S. job reports have bolstered the market, while it's highlighted that one in every 20 Australian households is struggling financially, with relief expected in 2024's second half.n
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Finance News WrapBy Paige Estritori