Josh Frydenberg will unveil the Federal Budget, his first as treasurer, in Canberra tonight. With all eyes on Prime Minister Scott Morrison as he prepares to announce the date of the next federal election, tonight’s Budget is an important step in the Coalition’s bid for re-election.
Although the RBA has left the cash rate unchanged since August 2016, there is a growing likelihood that the cash rate will move lower later this year.
The RBA left the cash rate on hold at 1.5% at its March meeting today. but there is a growing possibility that rates could fall later this year.
Australians have had their first glimpse of the new $20 note ahead of its release into circulation in October.
The RBA has looked past the housing downturn which has gathered some momentum over the past three months, to hold the cash rate firm at their first meeting this year.
Ever since financial deregulation in the 1980s we’ve had a finance industry scandal followed by an inquiry, a quick fix and a declaration that it shouldn’t happen again. Commissioner Hayne’s final report hasn’t gone far enough to end this cycle.
The Hayne royal commission has called for new powers for regulators to clean up the financial services sector, as the final report is handed down.
The days of niche super funds could be coming to an end, with the Productivity Commission slamming their inability to deliver low fees and better savings.