The outgoing chief executive of the private health insurer N-I-B has questioned the future viabililty of the public healthcare system and has warned Medicare is already unsustainable.

Delivering his final set of financial results, Mark Fitzgibbon says the current taxpayer-funded health system won't be able to handle the pressures of the rapidly ageing population .. and that at some stage wealthier Australians might soon have to pay their own way.

The federal government is planning a charter of aviation rights for customers and a new independent ombudsman to oversee complaints about cancelled and delayed flights. Former ACCC chairman Rod Sims has welcomes the crackdown but wants to see measures to force greater competition between airlines to cut ticket prices.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Catherine King, Transport Minister; Rod Sims, former ACCC chairman

"The time has come". US Federal Reserve chair Jerome Powell used four words to signal US interest rates will be cut in September. Some traders see a supersized cut of half a percentage point now that Mr Powell has declared victory over inflation.

Treasurer Jim Chalmers has decided to retain his power to override decisions made by the Reserve Bank board - but will limit its potential use to extreme circumstances. Dr Chalmers is trying to broker a deal with the Coalition to get legislative changes recommended by the Reserve Bank review passed by the end of the year.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Jim Chalmers, Treasurer

Treasurer Jim Chalmers has decided to retain his power to override decisions made by the Reserve Bank board - but will limit its potential use to extreme circumstances.

Finance Sector Union sees Bank of Queensland job cuts as code for more bank branch closures.

Bank of Queensland plans to cut as many as 400 jobs as owner-managed branches are taking inhouse and under corporate control. The Finance Sector Union national secretary Julia Angrisano says a two week consultation period is inadequate and warns the job cuts herald the closure of more bank branches.

There's more evidence that Australia might be on track to a recession by the end of the year.

The warning from Deloitte Access Economics comes as companies report a hiring freeze with concerns that as many as 100,000 jobs could be axed over the next year.

There's a glimmer of hope that the pace of currently eyewatering insurance premium increases might soon start slowing. IAG chief executive Nick Hawkins says with inflation slowing, motor insurance premium bill shock could be gradually reduced. Revealing a 7.9pc rise in full year profit to $898 million, Mr Hawkins says the company wants to minimise the impact of premium increases on customers.

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Nick Hawkins, chief executive, IAG

With the US presidential race now looking "neck and neck", greater attention is being paid to the economic policies of the presumptive Democratic candidate Kamala Harris.

Ms Harris is trying to distinguish herself from republican candidate Donald Trump with big spending social programs and a controversial pledge to raise the US corporate tax rate to 28 percent.

The Reserve Bank board has cited low tolerance for inflation staying higher for longer. The minutes from the RBA board’s most recent meeting signalled rates risk being hiked if inflation doesn’t return to the 2 to 3 percent target by late 2025.