Weekly Digest – 26 April 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Why the RBA should not use interest rates to target the housing market or debt

A panel reviewing the Reserve Bank of Australia RBA has recommended against using interest rates to target the housing market or address concerns about high levels of debt held by Australians.

Collaboration to bring more EV charging stations

The Australian government and NRMA are collaborating to install electric vehicle charging stations across the country along highways to prevent battery depletion, but the opposition has raised some concerns.

Local shares and the Australian dollar drop ahead of Anzac Day

The Australian share market has experienced a decline, primarily due to a drop in iron ore prices, while investors await the latest consumer inflation data, which is due to be released later this week.

Melbourne childcare company accused of “price gouging”

A Melbourne parent has accused Explorers Early Learning childcare company of “price gouging” after experiencing a series of “significant” fee hikes, with prices increasing by $29 per day in just two years.

2 in 3 Aussies believe it will never be possible to own a home

The concerning statistic highlights the cost of living crisis and is particularly pronounced among lower middle-class families.

Tradies set to lose instant write-off on utes under Budget changes

Tradies will no longer be able to immediately write off the cost of their utes as small businesses will have to pay more taxes under changes to the instant asset write-off measures that will take effect soon.

Review finds RBA board had “limited challenge” to executive, recommends overhaul

A review of the RBA has found that its board provided “limited challenge” to the RBA executive and had a skill set mismatched to the complex economic environment. The review recommended creating a specialist monetary policy board to set interest rates, which reflects its criticism of the existing board structure.

Popular Australian restaurant chains under threat due to cost-cutting measures

Rumours are circulating that several beloved restaurant chains in Australia, including El Camino Cantina, Fratelli Fresh, and Munich Brauhaus, may be in danger of closing as part of cost-cutting measures. See if your favourite is on the chopping block here.

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