Sun, 23rd Jun 2024

On this week's edition of the Finance News Wrap, we discuss several key events impacting the financial sector. Firstly we delve into the struggle Generation X faces with retirement savings, specifically with inflation and debt. A surprising 31% and 48% are worried about exhausting their funds and the increasing costs of retirement, respectively. Digital platforms for financial advice are also gaining popularity. Australian businesses face another challenge in the form of a 43% increase in card scheme fees, leading to growing demands for fee regulation. In cryptocurrency news, The Australian Securities and Investments Commission (ASIC) is taking stringent measures against Block Earner, reflecting its stern stance on regulatory compliance. Lastly, The Reserve Bank of Australia maintains a steady cash rate at 4.35% amidst inflation concerns, with no interest cuts predicted until clearer trends emerge. For more financial updates, tune in next week.n