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The impact of higher interest rates imposed by the Reserve Bank of Australia is being felt, with borrowing capacity taking a dramatic hit across the nation.
If consumer confidence remains low, it’s likely businesses conditions will also deteriorate to reflect an economy facing rising rates, soaring inflation and falling house prices.
ASX delivers a gain, AMP CEO to resign, wealth platforms take a major hit The ASX200 (ASX:XJO) managed to register a slight gain, finishing 0.2% higher behind strength in the banking and healthcare sectors, with National Australia Bank (ASX:NAB) up 0.5% and CSL (ASX:CSL) 1.4% amid a search for quality. The news of the day was the rumoured departure of ‘saviour’…
Compared with the rest of the world, income inequality is not particularly high in Australia, nor is it getting much worse. The real problem is housing inequality.