Wed, 11th Sep 2024

In this episode, Paige Estritori provides a weekly finance news wrap, discussing major developments in the Australian finance sector. The podcast focuses heavily on the rising mortgage stress in Australia, citing a recent study revealing that over forty percent of Australian homeowners, equal to 1.4 million families, are under financial pressure. The shift from cash to contactless transactions in the trades sector is also discussed, with the decline in cash resulting in reduced ATM usage and predictions of their obsolescence by 2030. There's also notable attention on the Reserve Bank of Australia's cautious approach towards cutting interest rates despite signs of an economic slowdown. The governor stresses the priority of controlling inflation over further economic stimulation, warning of their potential impact on low-income borrowers and overall cost of living.