Mon, 7th Oct 2024
from Finance News Wrap Hosted by Paige Estritori
This episode of the Financial Services Online Weekly Finance News Wrap discusses key occurrences in Australia's financial sector. The Reserve Bank of Australia has held its interest rates at a 12-year high, with no cuts expected until 2025, while inflation remains within target range. ANZ settled an $85 million dispute linked to commission practices of its former car financing sector and proposes a $14 million settlement for issues associated with superannuation fund investments. The podcast also addresses the ongoing ASIC investigation, requiring large Australian banks to reimburse $28 million due to unfair fees. On a global level, encouraging U.S. job reports have bolstered the market, while it's highlighted that one in every 20 Australian households is struggling financially, with relief expected in 2024's second half.n
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