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Westpac’s Matthew Hassan noted that the central bank’s rate reduction, the first since 2020, substantially improved buyer sentiment and overall economic outlook. Employment expectations also improved, albeit despite the unemployment rate lifting slightly to 4.1 per cent in January—remaining historically low.
CreditorWatch's Ivan Colhoun observed a significant uplift in Westpac's unemployment expectations sub-component, suggesting possible declines in unemployment. While external challenges, particularly those related to global trade and tariffs, persist, the Australian labour market starts from a robust position.
Global developments, notably concerning US President Donald Trump's administration's tariffs, have caused consumer unease despite positive domestic conditions. This international tension is a focal point for Australia’s economic strategy moving forward.
Complementary to consumer sentiment, National Australia Bank reported a slight rise in business conditions in February, although a decline in business confidence nearly counteracts these gains. According to NAB’s Alan Oster, the services sector remains strong, while mining lags, reflecting a cautious business outlook despite positive GDP growth and the RBA rate cut.
The Australian Bureau of Statistics recently confirmed a 0.6 per cent economic growth in Q4 2024, moving the nation out of a per capita recession. Nonetheless, the persistence of input cost pressures showcases the ongoing hurdles businesses face amid moderate economic improvements.
Published:Wednesday, 12th Mar 2025
Source: Paige Estritori
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| RBA Rate Cut Sparks Surge in Australian Consumer Confidence 12 Mar 2025: Paige Estritori The Reserve Bank of Australia’s recent decision to reduce the official interest rate by 25 basis points to 4.1 per cent in February has invigorated consumer confidence, reaching a three-year high. The upswing in sentiment began in late 2024 but waned slightly over the holiday season. However, March data from the Westpac-Melbourne Institute consumer sentiment index indicates a recovery, driven by the RBA's interest rate cut and easing cost pressures. - read more |
| Star Entertainment Secures $940M Refinancing Amid Financial Struggles 11 Mar 2025: Paige Estritori Star Entertainment Group has announced a crucial refinancing plan to address its significant debt obligations. The casino operator has forged an exclusivity and process deed with Salter Brothers Capital, signalling a potential $940 million refinancing initiative. This move, if successful, would allow Star to manage its existing debt portfolio effectively and ease the liquidity pressures it currently faces. - read more |
| FAAA Calls for ASIC Investigation Overhaul: A Demand for Transparency and Accountability 11 Mar 2025: Paige Estritori In a recent submission to the Treasury, the Financial Advice Association Australia (FAAA) has pressed for the Australian Securities and Investments Commission (ASIC) to adopt a more comprehensive approach when investigating financial service complaints. The FAAA has underscored the need for ASIC to expand its investigation purview beyond individual client files to scrutinize the entire financial services value chain, particularly in instances of significant consumer harm. - read more |
| High Costs of Financial Advice Hinder Women's Investment Confidence 10 Mar 2025: Paige Estritori Recent research from Fidelity International reveals a significant gender disparity in financial advice uptake and investment confidence. Conducted among over 1,000 Australian consumers aged 18 to 59, the study, titled 'The Next Generation,' highlights that only 16 per cent of women seek financial advisers, compared to 22 per cent of men. A staggering 50 per cent of women cited financial advice costs as a major deterrent. - read more |
