Thu, 19th Dec 2024 - Financial Services News Wrap

What this episode covers

In this episode, Paige Estritori discusses the present state of Australia's economy, noting that despite optimistic early-year signs, consumer confidence is fluctuating due to global uncertainties and rising inflation. Following a 2% decrease in the Westpac-Melbourne Institute index, there is anxiety about future market conditions. Ms. Estritori also discusses a recent MFS Global Retirement Survey highlighting a worrying gap in financial advice sought by superannuation members, as nearly 70% are not seeking professional advice. The Australian housing market experiences a shift, particularly a surge in mortgage rates, despite the Reserve Bank's steady cash rate of 4.35%. Lastly, MLC Life Insurance and Resolution Life are heading towards a mega-merger, which could elevate Japan's Nippon Life to control Resolution Life Australasia, indicating a shakeup in Australia's life insurance sector.n

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When was this Financial Services News Wrap episode published?

This episode was published on December 18, 2024.

What is this episode about?

In this episode, Paige Estritori discusses the present state of Australia's economy, noting that despite optimistic early-year signs, consumer confidence is fluctuating due to global uncertainties and rising inflation. Following a 2% decrease in the...

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