Fri, 15th Nov 2024

On this episode of 'Weekly Finance News Wrap', Paige Estritori provides an update on the Australian and UK financial markets. In Australia, the steady unemployment rate at 4.1% signifies a strong job market, with 16,000 new jobs created in October. Economists anticipate no rate cuts by the Reserve Bank of Australia (RBA) despite a slowdown in workforce growth. In the UK, Leigh Mackey, owner of Inspire Insurance Services, faces a significant penalty for misuse of insurance funds, pointing to the importance of transparency in finance. Back in Australia, there is a record surge in the domestic ETF market, with inflows surpassing the $23.7 billion mark. The RBA remains focused on inflation, given the current rate of 3.5%, with potential rate adjustments predicted mid-next year.n