In a widely expected move, the Reserve Bank announced a Melbourne Cup rate hike of 0.25%, the seventh hike in a row, bringing the overnight cash rate to 2.85%, the highest level since April 2013.

There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives.

After four straight 50 basis point hikes, the Reserve Bank gave borrowers a breather by slowing their sixth hike to 25 basis points to the surprise of economists and bringing the overnight cash rate to 2.60% in line with their September meeting minutes.

Inside this month, the new .au direct domain name and the risk to your business, and the detail of the 120% deduction for skills training and technology costs.

The Reserve Bank has raised its overnight cash rate target by another 50 basis points to 2.35% at the board’s September meeting this afternoon as predicted by most economists in a Bloomberg survey, marking the fourth straight 50 basis point move by RBA.

When businesses and well as individuals need financial help, they often turn to their local bank. While this can often be a good idea, there are numerous other ways to obtain a needed infusion of cash.