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ASX to lift as Aussies brace for another interest rate hike

The ASX board showing company price changes and RBA governor Philip Lowe.
The ASX is expected to lift this morning as Aussies brace for another interest rate hike. (Source: Getty)

ASX: The local market is expected to jump out the gates this morning after Wall Street surged overnight.

This comes after the ASX finished down yesterday but managed to bounce back after nearly hitting a two-year low.

Wall Street: US stocks rallied on Monday after the S&P 500 and Nasdaq closed out their first three-quarter losing streak since the 2008 Global Financial Crisis and the Dow logged its first such span of losses since 2015.

Rates: The Reserve Bank of Australia is poised to deliver another rate rise today.

Many experts are forecasting another supersized 50 basis point hike, although a smaller 25 basis point lift has not been ruled out.

Fuel tax: Motorists have been preparing for a jump in petrol prices as the fuel excise tax rebounds to its full amount.

Today an Australian Institute of Petroleum report will detail how retailers have responded to the return of the fuel excise, which was reinstated in full last Wednesday.

Optus hack: Optus revealed more than 2.1 million customers have had their ID documents exposed after the massive data breach.

In a statement released on Monday afternoon, the telco confirmed the stolen data did not contain valid or current document ID numbers for about 7.7 million individuals or businesses.

Tax reform: The Albanese Government has kicked off the multinational tax reforms it promised during the federal election.

Labor pledged to support the OECD's "two pillar" approach to crack down on multinational tax avoidance, which includes a 15 per cent floor rate for corporate tax globally to help eliminate tax havens.

Kardashian fined: Kim Kardashian agreed to pay $1.93 million (US$1.26 million) to settle charges brought by the Securities and Exchange Commission, which alleged she unlawfully promoted a cryptocurrency over Instagram in June of last year.

The SEC said the reality TV superstar endorsed EthereumMax's crypto token for US$250,000 last year without disclosing the payment she received for the promotion, violating the anti-touting provision of the federal securities law.

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