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ASX to fall as RBA to give hint on rate rises

·Personal Finance Editor
·2-min read
The ASX board showing price movements and RBA Governor Philip Lowe.
The ASX is expected to slide today as investors wait for the RBA minutes to be released. (Source: Getty)

ASX: The local market is expected to slip at the open after US stocks ran out of steam overnight.

This came after the Australian share market enjoyed its best day in three weeks after ANZ’s $5 billion acquisition of Suncorp bank.

Wall Street: US stocks fell sharply into the final hour of trading on Monday following news Apple planned to slow hiring and curb spending next year to prepare for a possible recession.

Damning report: Australia's environment is sick and getting sicker as the combined effects of climate change, pollution, land clearing and mining have taken a dangerous toll, according to a landmark report.

The State of the Environment report is a five-yearly health check on the natural ecosystems that underpin every aspect of life in Australia, and the news was resoundingly bad.

Rate hikes: ​​The Reserve Bank of Australia (RBA) minutes will be released this morning, followed by a speech by deputy governor Michele Bullock in Brisbane later in the day.

Economists and investors are hoping to get more insight into whether Australia’s red-hot labour market will lead to more aggressive rate hikes.

Industrial action: More walk-outs by Sydney nurses are likely after staff at two major hospitals rallied over what they claimed were chronic staffing shortages, after the NSW government conceded the health system was under pressure.

Dozens of prison guards also walked off the job in Darwin yesterday over the Northern Territory government's four-year public sector pay freeze.

The protected 24-hour strike was also protesting against the alleged under-resourcing of the sector, which the union said was in crisis.

Side-stepped: European leaders ramped up their push to secure alternative energy supplies as fears escalated of a complete natural gas cutoff by Russia.

Leaders of Italy, France and the European Union sealed deals with their counterparts in Algeria, Azerbaijan and the United Arab Emirates, in a move to side-step Russia.

Secret recipe: KFC is testing new chicken nuggets in an aim to reach Gen Z and replace popcorn chicken.

The Kentucky–based brand said it was ready for battle with its 100 per cent white-meat, whole muscle, chicken nuggets that will be tested in select restaurant locations around the US.

- With AAP

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