Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
The stock market rallied a bit on Monday in anticipation of the latest rate hike from the Reserve Bank. The performance mirrored other world markets, with many investors hoping that the end of runaway inflation is in sight.
New data from the Australian Bureau of Statistics confirmed last week what we all know already – the cost of a basket of goods from the grocery store costs a lot more than it did at this time last year.
The Reserve Bank joined the government in its efforts to keep the economy afloat by buying bonds. The bank’s capital is expected to be restored over time and will not affect operations.
A large handful of vessels loaded with grain left the port of Odesa on Monday. The shipment is a joint effort supported by the UN and Turkey and is meant to stave off a global hunger crisis.
Ahead of the RBA’s rate hike, Albanese pledged that the government will do what it can to ease the pain of soaring energy costs.
While experts say it’s true that housing prices have started to fall, they are still far above pre-pandemic levels. They maintain that homeowners shouldn’t be too worried, as interest rates cannot rise forever and eventually the market will stabilise.
Sydney Morning Herald business columnist Elizabeth Knight argues that with Musk’s fumbling Twitter takeover now complete, the billionaire has but one chance to make it work.
The massive factory complex in Zhengzhou city was hit with a wave of COVID-19, causing thousands of employees to flee. About 200,000 people work at the factory. It’s unclear how the outbreak will disrupt production.
Though it’s been a rough go for cryptocurrencies this year, some are reconsidering it as a form of investment as inflation continues to soar.
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