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ASX to fall as RBA boss to face parliamentary scrutiny

·Personal Finance Editor
·2-min read
The ASX board and RBA governor Philip Lowe
The ASX is expected to fall this morning as RBA governor Philip Lowe prepares to face parliament. (Source: Getty)

ASX: The local market is expected to slip this morning after Wall Street was mostly lower overnight.

This comes after the ASX edged higher yesterday - amid focus on Australia's jobs market - making a modest recovery after Wednesday's sell-off.

Wall Street: US stocks tumbled in a back-and-forth session on Thursday as a flurry of corporate headlines held investor attention.

RBA probe: The Reserve Bank of Australia's (RBA) aggressive rate-hiking schedule will be put under the microscope at a parliamentary hearing.

RBA governor Philip Lowe will face the House of Representatives economics committee today.

Worker crisis: Australians struggling to find the balance between work and care responsibilities are the focus of an inquiry tasked with finding ways to provide better support.

The committee on work and care will hear from early-childhood, seniors’ and carers' advocates, as well as the employment and Workplace Relations Department at its first hearing today.

Star casino: The interim chairman of embattled casino operator Star told investors and employees the casino would have to fundamentally transform its culture to stay open.

Interim chair Ben Heap said the inquiry into the casino and subsequent report by Adam Bell SC made for "difficult reading".

QLD housing: Fingers are being pointed after the Queensland Deputy Premier's "extraordinary" decision to take over a local council's housing strategy.

Steven Miles said Redland City Council had refused to update its strategy, claiming it wouldn’t address the needs of a growing population and lacked diversity in the types of housing being delivered.

Safety standards: Two companies have been fined a total of more than $1 million after a worker was fatally electrocuted while on the roof of a property in Sydney's outer west.

Joel White was dismantling edge protection on the roof of a Moorebank site when he was electrocuted in 2019.

Jaw-dropping: Researchers have discovered a 380-million-year-old heart and other organs in the fossil of an ancient jawed fish collected off Western Australia's Kimberley coast.

Experts said it was the oldest three-dimensionally preserved fossil heart ever found in a jawed vertebrate, shedding new light on the evolution of humans.

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