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From the monthly archives: August 2022

We are pleased to present below all posts archived in 'August 2022'. If you still can't find what you are looking for, try using the search box.

August is the start of reporting season - what does it mean for you?

Posted on Wednesday, August 10, 2022
1st August each year is not only every horse’s birthday, it’s also the unofficial start of reporting season. This is when ASX-listed companies report their performance in the last financial year. Some companies give full year results, while others report on the 4th quarter of the financial year (April-June). Now, you may think this doesn’t impact you but it likely does, especially if you have superannuation in managed funds or index funds with exposure to Australian shares. Yesterday the NAB reported it had benefited from an increase in home and business loans, as well as higher interest rates. Its CEO also said, "approximately 70 per cent of customer home loan repayments are ahead of schedule."    This morning the CBA announced an 11% increase in profit, which was better than expected. Investors should be happy with the $2.10 dividend, which is 10 cents higher than previous year’s end.  A2 Milk failed to get FDA approval to export baby for ... Read the rest of entry »

Well, there's good news, and there's bad news

Posted on Thursday, August 4, 2022
As we all know by now, the RBA hiked interest rates another 0.5% at its meeting earlier this week.   And it’s probably not surprising that at the time of writing the ANZ, CBA and Macquarie have all passed on the rate increase to mortgage holders in full. Really, you can expect that all lenders will follow suit – they don’t really have much choice.   We’ve said before, you can expect the cost-of-living pain to get worse before it gets better.   For an owner-occupier with a $500,000 variable rate mortgage and 25 years to go, a 0.5% increase in the lending rate adds about $140 per month in repayments, making the total increase in mortgage repayments around $500 per month since May.   That’s not great news for many who are struggling, however there is some upside with some relief coming from petrol prices falling around 30 cents per litre, and the price of avocados dropping below $1 due to a massive oversupply! And just a reminder, the state government ... Read the rest of entry »

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