Mon, 19th Aug 2024

In this episode, Paige Estritori discusses recent developments in Australia's financial landscape affecting small businesses, the banking sector, securities exchange, and proposed changes to lending rules. Rising costs and industrial changes are severely impacting nearly half of Australia's small businesses, particularly those in hospitality. Reserve Bank Governor Michele Bullock emphasizes patience even as inflation moderates, highlighting ongoing price pressures in services, rents, and construction sectors. In legal matters, the Australian Securities and Investments Commission is taking action against the Australian Securities Exchange over misleading statements about the CHESS replacement system. Lastly, the extension of certain lending exemptions for small businesses is being proposed, potentially impacting businesses with fewer than 100 employees or with revenue under $5 million annually.