FEAR & GREED | Business News RBA open to another rate cut; Coalition splits; Telstra hikes phone plan prices
May 20, 2025
Interest rates are cut, sparking hopes for economic recovery, while the political arena shakes up as the Liberal and National Parties split. Telstra raises phone plan prices amidst changing market dynamics. The podcast dives into controversial investments in coal against environmental concerns, while Rio Tinto shifts focus to lithium. International news touches on tentative Russia-Ukraine peace talks, and the enduring legacy of 'Sesame Street' is celebrated with a new partnership with Netflix.
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RBA Focus Shifts to Growth Risks
- The Reserve Bank cut rates due to a sluggish economy and cautious households despite rising real wages.
- They focus more on economic growth risks than inflation now, suggesting more cuts possible this year.
Keep Mortgage Repayments Steady
- Mortgage holders should keep repayments steady to save significant interest and payoff time.
- For example, a $550,000 loan could save $83,000 and finish two years early with current repayments after rate cuts.
Historic Liberal-National Split
- The historic split of the Liberal and National parties ends their 80-year coalition due to policy disputes.
- The split weakens conservative opposition, benefiting the ruling Labor party.