Fri, 26th Jul 2024

This episode of the 'Weekly Finance News Wrap' by Paige Estritori includes updates on the Australian financial market for the 4th week of July 2024. Highlights include National Australia Bank's pioneering interest rate cut of 0.6% among the 'big four' banks, providing relief for home seekers. However, the allure of fixed-rate loans has seen a drastic drop. Other banks still cling to higher rates. On the Australian shares market, tech stocks and Domino's Pizza face significant plunges while Liontown Resources rise by 3.66%. Pressures mount for property stocks with potential rate hikes, amidst a rise in unemployment rates despite new job additions. Global news features Nasdaq's most significant downturn since Dec 2022. Australian economists troubleshoot RBA's concerns navigating between employment growth and inflation control.