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ASX to fall as petrol to be cheaper in the regions

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a sign at a petrol station showing prices.
The ASX is expected to fall today as petrol prices are back in the spotlight. (Source: Getty)

ASX: The local market is expected to fall at the open after US stocks finished the session lower overnight.

This comes after the ASX enjoyed its best gains in almost a fortnight yesterday.

Wall Street: US stocks barreled lower on Tuesday as investors prepared for Federal Reserve officials to deliver another jumbo rate hike in their fight against persistent inflation.

RBA: The role of the central bank's bond-buying program in Australia's economic recovery from COVID will be outlined in a speech by a senior Reserve Bank official.

RBA deputy governor Michele Bullock will speak at a Bloomberg event today about the review into the bond-purchasing program, which saw the central bank buy government bonds to lower bond yields.

Petrol prices: While the Government is set to reinstate the full fuel excise tax, regional areas could continue to benefit from lower-taxed fuel for several weeks due to having less turnover at petrol stations than the city.

The Morrison government halved the fuel excise in March for six months in a bid to reduce pressure on the cost of living, but the excise will come back on next week.

Telcos: A new report has revealed which Australian telcos saw a rise in complaints about their service, and which did better by their customers.

Aussie Broadband, Dodo, and Medion had the biggest increase in complaints made about them to the Telecommunications Industry ombudsman.

Bank closure: Bankwest will close its remaining east coast branches and reduce trading hours in regional Western Australia as more customers go online.

Fourteen branches will shut by the end of October, five each in NSW and Victoria, three in Brisbane and one in Adelaide.

Hiring spree: An extra 1,200 nurses and midwives will be recruited across NSW if Labor wins the upcoming state election.

The policy would see minimum "safe staffing levels" introduced to hospitals, beginning in emergency departments before rolling out across intensive care units, maternity wards and other areas.

Space exploration: Saudi Arabia is planning to launch two astronauts to the International Space Station aboard a space capsule from Elon Musk's SpaceX.

This is the latest Gulf country to strengthen ties with private US space companies, according to sources familiar with the arrangement.

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