Wed, 21st Aug 2024

In this week's episode, Paige Estritori presents on behalf of Financial Services Online, key updates on financial news. The Australian Securities and Investments Commission is actively countering deceptive online investment websites, dismantling up to 20 platforms a day. Commonwealth Bank may offer relief to homeowners with a possible rate cut by November, alongside the anticipated income tax cuts from July. However, disparity persists between financial wellness of renters and homeowners. Also under discussion was the ongoing struggle of Australia's small businesses, half of which are barely staying afloat due to rising energy costs and regulatory challenges. Lastly, Reserve Bank's Governor Michele Bullock defends maintaining current high interest rate, in spite of challenges such as moderating inflation and housing costs.