Reserve Bank

While less and less people use cash, for many seniors, uncomfortable using debit or credit cards, banking online or simply fearful of potential scams, it remains the payment system of choice.

A tight labour market and sticky inflation suggests that the Reserve Bank is not about to cut the cash rate. Indeed, it’s more likely the bank will lift it again – good news for those with cash and term deposits.

ASX delivers strong gains, gold shining again, travel hit by vaccine issues The ASX200 (ASX:XJO) finished the week flat but managed to deliver a strong 2.4% from just four days of trading. The initial driver was the Reserve Bank reiterating their accommodative policy settings, sending the technology sector including Afterpay (ASX:APT) up 15.1% over the week after a difficult few months….

Market weakens, CBA enters BNPL space, Corporate Travel sell down The ASX200 (ASX:XJO) fell 0.5% on Wednesday, following a confluence of global factors. It was a mixed day with six of the eleven key industry sectors falling but energy and materials remaining under pressure. The iron ore price has remained strong, however, both BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) fell as other commodity…

Aussie fund manager gives Budget an ‘F’ for FAIL The head of the Australian wealth and superannuation manager Nucleus Wealth, Damien Klassen, has drawn a pointed analysis of the Morrison/Frydenberg budget strategy. “The budget misses the mark bigtime, by focusing on the supply side of the economic equation when in fact the biggest issue by…

In its latest quarterly statement on monetary policy, the Reserve Bank of Australia declared its preparedness to “ease monetary policy further if needed”.

The unwillingness of the major (and other) banks to immediately cut their headline mortgage rates by as much as the Reserve Bank cuts its cash rate always attracts bad press, as well as condemnation from treasurers and prime ministers.