RBA warns of future business price hikes as ASX rebounds from seven week low
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Show notes
The Australian sharemarket bounced back from a seven-week low as easing tensions in the Middle East lifted investor confidence, with the ASX200 rising 1.2 per cent. Ricardo Gonçalves speaks with Westpac Senior Economist Matthew Hassan about why Australians remain deeply pessimistic despite a slight lift in consumer sentiment, as the Reserve Bank warns businesses are preparing further price hikes and workers push for higher wages. Plus, Michael Jenneke from UBS Global Wealth Management breaks down the day’s market action, including gains for supermarkets, banks and telcos, while energy stocks slipped as oil prices eased.
