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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.”


The Access Group launches $100k in Small Business Software Grants

Initiative aims to have a long-term positive impact on Australian small businesses, as business failure rates reach a 15-year high  The Access Group (“Access”) has announced $100,000 in Small Business Software Grants to ten s...

Cremorne Digital Hub to nurture Australia's next tech unicorns

Addressing the ecosystem’s growing pains which threaten to drive Australia's next generation of tech unicorns offshore, Cremorne Digital Hub's Scaleup Program powered by Boab aims to fuel the next level of digital investment a...

Breaking Bread: How Transformational Credit Helped the Dough to Rise

In the world of business, success often hinges on the ability to adapt and overcome challenges. Nomad Breads is a manufacturer of artisanal style bread with a significant presence making Turkish bread. Facing a slew of issues ...

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