Tue, 8th Jul 2025

This Week's Finance News Wrap by Paige Estritori discusses the anticipated 25 basis point cut by the Reserve Bank of Australia applicable to the cash rate, bringing it down to a near-record low of 3.6%. The expected reduction is based on favourable inflation figures and experts anticipate further cuts in August and November. Australian online retail sales amounted to about $63 billion in the past year with specificity in fashion and games. Unsolicited sales are causing issues in the solar installation sector, leading to increased complaints. The start of the new financial year presents a 3.5% rise in the minimum wage and supers contributions, now inclusive of parents on leave. Additional legislative changes aim to protect penalty rates and address rising living costs, alongside improved Medicare services and energy bill rebates. Tune in next week for another episode of Finance News Wrap.n