If you're already paying down a big mortgage, this will come as no surprise.

Australians are devoting a greater share of their pay packets to mortgage repayments than any other advanced economy in the world according to the International Monetary Fund.

The deepening fears about a wider Middle East conflict stemming from the war between Israel and Hamas continues to rattle global financial markets.

Household financial stress rising, but Reserve Bank says banking system isn't at risk by Peter Ryan

Former Liberal Treasurer Peter Costello won't be seeking a third term as chairman of the federal government's Future Fund.

A spokesman for Treasurer Jim Chalmers has confirmed Mr Costello's 14 year stint first as a board member then chair will end in February after 14 years.

Mr Costello's decision to step down follows renewal at top institutions including the Reserve Bank and the Productivity Commission.

The spokesman thanked Mr Costello for “his significant contribution” and said a merit-based recruitment process will now commence to appoint a new Chair.

Mr Costello established the sovereign wealth fund as John Howard’s Treasurer in 2006 with $60 billion of budget surpluses and part of the proceeds from the Telstra privatisation.

Newly-appointed Fair Work Ombudsman Anna Booth has vowed to use yet-to-be legislated criminal penalties against employers who deliberately underpay or rip off their workers. Ms Booth tells AM the risk of tough criminal sanctions including potential jail time would be a major deterent to dodgy bosses if proposed criminal wage theft laws are passed by Federal Parliament.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Anna Booth, Fair Work Ombudsman

Interest rates might have stayed on hold a few days ago, but the impact of twelve hikes since May continues to eat into household budgets.

Delinquency rates on mortgage repayments rose in the most recent quarters .. the rates pressure exacerbated by the rising cost of living.

"a hawkish pause" from RBA gov Michele Bullock - but bets rising for Melbourne Day rate rise by Peter Ryan

Just a bit of good news to start the day.

It's looking as though the Reserve Bank will leave interest rates on hold at today's board meeting in Sydney.

But how long will that last given still-troublesome inflation sticking around and rising house prices especially in Sydney?

After twelve interest rate rises since May last year, bets are rising that troublesome inflation might force the Reserve Bank to deliver yet another rate hike in the coming months. While the RBA's cash rate looks like staying on hold at tomorrow's Board meeting, AMP chief economist Shane Oliver think a November rate rise on Melbourne Cup day is emerging as a real possibility.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Shane Oliver, AMP chief economist

The pressure is growing on former Qantas chief executive Alan Joyce to front a senate inquiry into a decision to block Qatar Airways into doubling flights into Australia.

Mr Joyce - who retired from Qantas two months ahead of schedule - faces the threat of jail if he doesn't appear.