21 January 2020
1300 794 893
AP Photo/Seth Wenig

5 things you need to know today

Switzer Daily
13 November 2019

1. Liberal MP Tim Wilson, the chairman of the standing committee on economics, has told the Reserve Bank that it is "prudent" for it to "consider its future approach" following recent interest rate cuts, and said that "the data shows the theory of rate cuts to stimulate economic activity isn’t necessarily matched in practice, and could have a negative impact on the economy" according to extracts published by The Australian.

2. NAB has admitted to 255 of the 297 breaches of credit legislation alleged by ASIC for the bank's home loan 'introducer' program, with a maximum fine of up to $500 million.

3. 50 homes are estimated to have been lost in the 300 bushfires across New South Wales yesterday, with no death or life threatening injuries reported.

4. Donald Trump has suggested that an initial trade deal between the US and China was "close", telling the Economic Club of New York that "a significant phase one trade deal with China could happen - could happen soon" but added that "we will only accept a deal if it’s good for the United States and our workers and our great companies".

5. The Dow Jones was unchanged on Tuesday at 27,691.49, while the S&P 500 moved up 0.16% to 3,091.84 and the Nasdaq gained 0.26% to 8,486.09.

If you liked this article you'll love the Switzer Report, our newsletter and website for trustees of self-managed super funds. Click here for a FREE trial and to hear more of Peter’s expert commentary and advice.

Let us know what you think
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
1300 794 893
© 2006-2019 Switzer. All Rights Reserved
homephoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram