Sat, 6th Apr 2024

This episode of the Weekly Finance News Wrap with Paige Estritori covers significant Australian finance stories. Starting August, a new law in Australia allows employees of larger firms to disconnect from work-related calls and messages post-hours without fear. This legislation aims to protect mental health and improve work culture. Small businesses will enact similar regulations by 2025. The episode also discusses global financial concerns due to rising inflation, with over half of adults in key economies experiencing financial stress. Australian Financial Complaints Authority urges lenders to increase support for those struggling, in the wake of a 25% increase in financial hardship complaints. Lastly, the Reserve Bank of Australia has halted its streak of interest rate hikes, holding the cash rate at 4.35%, indicating a potential rate cut later in the year while dealing with rising service costs and inflation's impact.