Australia’s annual inflation rate surged to a 16 month high of 3.8% putting an end to further interest rate cut hopes; the ASX rises as investors continue to bet on a US interest rate cut; Australian superannuation pool continues to grow.
00:00 Housing costs were the biggest contributor to the inflation rate rise from 3.6 per cent in September, to 3.8 per cent in October
03:30 Interest rates in the US are likely to fall, with talk overnight escalating that any replacement for Chairman Jerome Powell will be pro-cuts
05:45 With the chance of rate cuts here fading, the Australian dollar jumped nearly half a US cent compared with yesterday
06:44 Australia’s superannuation pool continues to grow – now valued at almost $4.5 trillion
07:22 Australia is making progress on financial gender equality
Ricardo Gonçalves breaks down the day’s financial news in On The Money.
#Inflation #InterestRates #ASX #Superannuation #FinanceNews
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