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Australia’s central bank holds rates, signals more hikes to come

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Interest rates remain at 4.1 per cent, the highest level in 11 years

 
The Australian central bank held interest rates steady on Tuesday, saying it needed more time to assess the impact of past rate hikes, but warned that further tightening might be necessary to rein in inflation.

After raising rates by 400 basis points in May last year, the Reserve Bank of Australia (RBA) held its cash rate at an 11-year high of 4.1 per cent at its July policy meeting.

This is the most aggressive rate hike campaign in the bank’s modern history.

Markets had been pricing in a pause, but many economists had expected further rate hikes. Three out of Australia’s Big Four banks had expected a further rate hike, with only the Commonwealth Bank predicting the pause.

RBA Governor Philip Lowe said during the Tuesday meeting that that higher interest rates were working to strike a balance between supply in the economy

“In light of this and the uncertainty surrounding the economic outlook, the Board decided to hold interest rates steady this month,” he said.

Lowe also repeated warnings that further tightening might be required as inflation remains elevated and is expected to be so for some time.

After pausing in April, the RBA resumed raising rates in June and May in an aggressive campaign that has many in the economy fearful of tipping into recession.

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Survival of the fittest: the future of hospitality demands adaptability

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Exploring the highs and lows of business with a hospitality veteran.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Nick Russian, Managing Director of Russian Entertainment. #wyld money #trending

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Ultra-processed diets could be the hidden path to weight gain

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Understanding calories and their role in dieting on the human body.

Calories, units of energy from food, are vital for bodily functions, and calorie counting helps manage weight by tracking energy intake. However, recent insights reveal that not all calories are equal, and nutritional quality is crucial.

Processed foods, rich in added sugars, unhealthy fats, and sodium, lack essential nutrients, contributing to obesity and diseases.

Kate Save from BeFitFood joins to discuss.

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Online shopping and the pivotal issue of returns continues

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Big businesses are continuing to balance customer expectations and logistics.

While many love the convenience, there are still significant challenges with delivery and returns. From delayed packages to cumbersome return processes, its clear that there’s room for improvement.

Ticker’s Ahron Young & Mike Loder discuss.

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