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RBA Hikes Cash Rate

Theo Chambers, CEO of Sydney mortgage brokerage Shore Financial, said today,

“The market was expecting a 0.25 basis point increase so today’s announcement comes as little surprise to most. The expected outcome is that people’s borrowing power will continue to be reduced. Consumer spending is still quite high at the moment, which is keeping inflation high, recently reaching the 7% mark in Australia.

As for other likely outcomes, unemployment is now forecast to start increasing as rates continue to rise, and could reach 4.5% in 2023. This can be put down to the fact that once consumer spending starts decreasing and inflation subsequently starts decreasing, the global economy will probably retract a little bit. As a result, businesses will feel less revenue and profits will fall, leaving many in a situation where they may have no choice but to lay off some staff as they go into cost-cutting mode.”


COVID: How do you declare virtual xmas parties and online staff presents at tax time?

Accounting and training expert and CEO of Platinum Professional Training, Coco Hou, today said “with the end of year fast approaching, many businesses are already planning virtual Christmas parties for staff and clients, and...

Shopify reveals another record breaking Black Friday

Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, announced a record-setting Black Friday with sales of nearly $2.9* billion from the start of Black Friday in New Zealand through the...

Vale Diane Lenore Jones

Real estate industry pioneer Di Jones passed away on Saturday (23 June, 2018) surrounded by family. DiJONES CEO Rob Ward paid tribute to Di Jones, who opened her first agency in Woollahra in 1992 and played an active role as b...