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ASX set to rise as RBA makes final rate call

·Personal Finance Editor
·2-min read
The ASX board showing price movements and RBA Governor Philip Lowe.
The ASX is set to leap out of the gates today as the RBA prepares to meet for the final time this year. (Source: Getty)

Good morning.

ASX: The local market is expected to jump out of the gates after a positive lead from Wall Street overnight.

This comes after the ASX fought its way out of the red yesterday with supermarket and gold stocks pulling the market up.

Wall St: Wall Street bounced back overnight with investors flocking to large blue-chip stocks as optimism increased.

Wall Street's major indexes swung wildly last week as investors digested Omicron news and Federal Reserve chair Jerome Powell's comments on surging inflation.

BTC: Bitcoin is still sitting below the US$50,000 mark after suffering steep declines over the weekend.

Watch the video below to find out why financial adviser Ryan Payne said Bitcoin was “one of the biggest bubbles ever”.

Rates day: It will be the final rates decision of the year before the Reserve Bank of Australia reconvenes in February.

Economists do not expect the final RBA board meeting of the year to reveal anything new, with the cash rate tipped to remain at a record low 0.1 per cent.

Inequality: Income inequality has remained steady for the past two decades, while single parents and young Australians are more likely to be worse off, a new study shows.

Just under two-thirds of Aussies live in homes they own, while homeowner debt levels have doubled in real terms to more than $355,000.

Meanwhile, inheritance has been found to actually reduce inequality, according to another study.

The amount of wealth transferred through inheritances and gifts in Australia has more than doubled since 2002, with $1.5 trillion changing hands,

Air taxi: Australia has ordered 60 electric planes from a Brazilian company.

The plane maker announced the partnership with Sydney Seaplanes, which will allow it to start implementing electric air taxi operations in the Greater Sydney region.

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