Thu, 1st Aug 2024

In this week's episode of Financial Services Online's Weekly Finance News Wrap, Paige Estritori highlights key financial news in Australia. The Australian Securities and Investments Commission (ASIC) is intensifying its efforts to validate financial advisors' credentials on the Financial Advisers Register (FAR) to maintain trust in the profession. A recent Westpac report suggests that consumers are rethinking their financial expectations due to the stable interest rates predicted for the year. Inflation could pose a significant challenge for homeowners, with soaring costs in insurance, rent, and petrol prices amid an expected persistent inflation, despite government mitigation efforts. Due to increasing living costs, the upcoming federal election and potential rate hikes are among issues to watch in the financial space.n