FEAR & GREED | Business News Afternoon Report | Rates cut, ASX hits new high
Aug 12, 2025
Markets had a thrilling day as the ASX 200 soared to a new high after interest rates were cut. Poor productivity in Australia raised eyebrows, while Deloitte faced consequences for staff misconduct. Leadership changes in the media sector created waves, highlighted by the SBS boss stepping down. And just when you thought it couldn't get any more exciting, Taylor Swift dropped news of her new album, stealing some spotlight amidst economic chatter!
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ASX Hits Record After Rate Cut
- The ASX 200 set a new closing high after the Reserve Bank cut the cash rate to 3.6%.
- Banks, miners and retailers led gains while Life360 jumped on stronger results.
Productivity Is Australia's Key Challenge
- Reserve Bank Governor Michelle Bullock flagged weak productivity as a major economic challenge.
- Treasurer Jim Chalmers urged a "responsible middle path" on AI to capture gains and manage risks.
Big Firms Face Misconduct Issues
- Deloitte disciplined 146 staff last year for misconduct including harassment and poor leadership.
- KPMG also reported multiple complaints, showing industry-wide conduct concerns.