Tue, 16th Sep 2025

In this Weekly Finance News Wrap, Paige Estritori discusses key financial matters affecting Australia. The Commonwealth Bank of Australia opposes the Reserve Bank of Australia's proposed cut in card transaction fees, fearing it may increase consumer costs and decrease rewards programs. A surge in consumer spending, attributed to raised incomes and a strong job market, might impact interest rate cuts, with the next decrease, from 3.60% to 3.35%, expected for November 2025. There's a delay in the Compensation Scheme of Last Resort's payments due to a $47.29 million shortage in special levy funds. Lastly, a rise in demand for financial advisors is anticipated due to the growing retiree population, with possible solutions including skilled migration and policy changes.n