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ASX to rise as RBA to deliver another interest rate hike

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and RBA governor Philip Lowe.
The ASX is expected to rise this morning as Aussies brace for another interest rate hike. (Source: Getty)

ASX: The local market is expected to get off to a positive start this morning despite economists predicting yet another interest rate hike.

This comes after the Australian share market edged higher yesterday, with the energy and mining sectors rebounding and the banks and tech companies losing ground.

Wall Street: US markets remained closed overnight as the country celebrated the Labor Day public holiday.

RBA: The central bank's September decision will likely spell higher repayments for mortgage holders, with another interest rate rise broadly expected.

The Reserve Bank of Australia board is expected to lift the official cash rate for the fifth month in a row when it meets today.

Under pressure: The soaring cost of living and personal debt is the number one threat to Australian mental health for the first time as the nation braces for another interest rate rise.

Around 40 per cent of Australians felt more distressed over finances compared to last year, Suicide Prevention Australia's annual State of the Nation report revealed.

If you or anyone you know is in need of help you can reach Lifeline on 13 11 14 or Beyondblue on 1300 22 4636.

Safety concerns: Aussie Broadband has been fined for potentially putting the safety of thousands of customers at risk during a crisis.

The customers wouldn't have received emergency alerts on their phones between November 2021 and May 2022 because the provider did not hand over 30,000 customer records to a database.

Energy crisis: Australia could enter the "low-carbon club" if it gears up on electric cars and energy storage.

Smart Energy Council CEO John Grimes has launched a campaign to address supply shocks and surging energy bills.

Strike action: The NSW government and rail union are taking their months-long fight over trains to a Fair Work Commission hearing.

The commission case was brought by the Rail, Tram and Bus Union as a change of tactic from weeks of strikes that delayed commuters.

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