Yahoo Finance ASX down, RBA decides, and 5 other things to start your day
ASX: The local share market is anticipated to fall slightly at the open today after US stocks fell overnight.
Rate pain: The Reserve Bank (RBA) is expected to take the cash rate to its highest point in more than a decade today, as past hikes start to bite households.
The RBA board is expected to announce a 25-basis-point rise, taking the cash rate to 3.35 per cent.
Rent crisis: It’s not just mortgage holders feeling the pain, ballooning rental costs in NSW are shaping as an election issue, with calls for a rent freeze and an independent body to stop landlords jacking up payments.
Launching its rental policy today, the NSW Greens said the state's rental sector was "cooked" and in need of urgent reform.
Gambling reform: In the least surprising move, gambling industry representatives fear casual gamblers will be deterred by the NSW government’s plan for cash-free poker machines.
Premier Dominic Perrottet said his government would make all pokies cashless by 2028, in what has been described as Australia's most significant gaming reform.
Electric surge: The number of electric vehicles on Australian roads is likely to race past 100,000 early this year, according to a new report, after almost doubling in 2022.
The Electric Vehicle Council study found more than 83,000 electric cars were being driven in Australia and the number of charging stations had soared by 44 per cent.
AI revolution: Conversational AI tool ChatGPT took the world by storm, crossing 1 million users a mere five days after its release. But what does the AI have to say about itself?
Have a read of the Yahoo Finance interview with ChatGPT.
You’re fired: Household-name tech companies that have made major staff cuts have a few things in common, new research from Goldman Sachs suggested.
"We find that three characteristics are common to many of the companies that have recently announced a large number of layoffs," Goldman Sachs chief economist Jan Hatzius wrote in a new client note. Here’s what they share.
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