Thu, 4th Apr 2024

In this week's Finance News Wrap, Paige Estritori discusses global financial stress due to inflation concerns, with over half of adults in major economies feeling monetary pressure. Local news highlights a 25% increase in Australian Financial Complaints Authority's reports on financial hardship. There's been a concerning pattern of lenders evading requests for assistance, especially for home and credit card repayments. The RBA has maintained the cash rate at 4.35%, offering some respite amidst fears of service cost inflation. Experts speculate a rate cut by the year-end. The retail sector faces a 'cost-of-trading crisis' due to rising operational costs and energy prices, particularly impacting regional retailers. The sector fears profit reduction, job cuts and hesitant investments. Calls for government intervention in the May budget are growing. Remember, Financial Services Online is here for your personal and business finance needs.n