Chanticleer RBA rates shock, inside the millionaires factory & is Trump bad or good?
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Jul 11, 2025 Joyce Malakis, an associate editor at the Australian Financial Review and co-author of a book on Macquarie Group, joins to discuss significant banking shifts in Australia. She sheds light on the RBA's surprise cash rate hold and explores Macquarie's innovative strategies amidst political uncertainties. Joyce also dives into economic impacts of Trump's tariffs and emerging trends like Bitcoin’s upward trajectory, painting a vivid picture of current financial landscapes and their implications for the future.
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RBA's Cautious Rate Hold
- The Reserve Bank of Australia held rates steady at 3.85% despite market expectations of a cut. - The decision reflected caution, awaiting more concrete inflation data before easing monetary policy.
Bank Margins Benefit; Customers Wait
- Banks benefit from the RBA holding rates by preserving net interest margins temporarily. - However, mortgage holders may not see immediate rate cuts passed fully due to banks' history of partial transmission.
Macquarie Eyes Auditor Change
- Macquarie Group is considering ending its over 30-year relationship with PwC as auditor. - This move is partly due to PwC's tax advisory scandal and Macquarie's shift toward stronger corporate governance practices.