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ASX to rise as RBA confirms rates won't increase for 3 years

Anastasia Santoreneos
·2-min read
Client giving Australian money to property agent for buying house.
ASX to rise as RBA confirms rates won't increase for 3 years. Source: Getty

Good morning.

Here’s Yahoo Finance’s Wednesday morning wrap.

The ASX is expected to open higher, after closing more than 1 per cent higher on Tuesday, with major gains in tech and bank stocks.

In the US, the S&P 500 and the Nasdaq reached record highs on positive vaccine news and factory data from China, which buoyed investor hopes of a speedy economic recovery.

Interest rates: The Reserve Bank of Australia on Tuesday decided to keep interest rates at a record low of 0.1 per cent, opting for a ‘wait and see’ stance.

Governor Philip Lowe said the RBA was not expecting to increase the cash rate for at least 3 years.

$700,000 risk: Millions of Aussies are at risk of losing thousands to scammers online tis Christmas, with new data showing online fraud is increasing rapidly.

Here’s how to protect yourself online.

Unemployment: The Australian unemployment rate could topple 8 per cent in 2021, once fiscal support measures are phased out, the OECD has revealed.

Scott Morrison's decisions to withdraw support too soon and exclude more Australians from incoming support will exacerbate the economic damage being inflicted on those who were hit hardest by the virus outbreak and left behind by initial policy and fiscal responses to the crisis," shadow treasurer Jim Chalmers said.

Govt’s big mistake: Freezing the super guarantee at 9.5 per cent is a mistake, and will cost taxpayers more in the long run, independent economist Stephen Koukoulas writes.

Here’s what the Government should be doing.

More meetings: Many of us have realised that the temporary work-from-home measures implemented at the beginning of the pandemic will likely become permanent - if they haven’t already.

But how else will our jobs change in 2021?

Looking to invest in property? Don’t do it because your friends are doing it - or because you just think you have to.

Instead, consider these five questions carefully before you dive in, to know if property investing is really for you.

Gift hacks: If you’re 99 per cent certain no one in your circle has started buying gifts for the holiday season yet, there’s a surefire way all of you can save big dollars on your Christmas spend this year.

This hack worked for Women’s Agenda editor Angela Priestly - and it could work for you too.

Have a great day.

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