Australia's Inflation Tops One-Year High in August, Rate Cut Bets Soften

Australian consumer prices rose at the fastest annual pace in a year in August after a hot July, suggesting some upside to inflation that prompted markets to pare back the chances of imminent policy easing, Reuters reported. The Australian dollar rose 0.3% to $0.6619, while three-year government bond futures fell 7 ticks to 96.45, the lowest in three weeks. Investors doubled down on bets that the Reserve Bank of Australia will skip a move in interest rates next week given the recent flow of data has been on the strong side.
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Australian Man Jailed for Complex Fraud to Help Business Owners Knowingly Avoid Bankruptcy

A Melbourne lawyer has been sentenced to three years’ imprisonment, with a non-parole period of one year, for perverting the course of justice and running an offshore scam to help his clients avoid bankruptcy, according to a joint release from the Australian Federal Police and Australian Financial Security Authority. The man used his law firm to create fictitious personal debts for two clients so they could gain a favourable outcome from bankruptcy and insolvency processes.
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ASIC Issues DDO Stop Order Against RELI Capital Mortgage

The Australian Securities and Investments Commission (ASIC) has made an interim stop order against the RELI Capital Mortgage Fund, a registered managed investment scheme operated by RELI Capital, CapitalBrief.com reported. ASIC said the order was to "protect consumers and retail investors from acquiring a product that may not be suitable for their financial objectives, situation or needs." As of 31 December 2024, the fund held $50.9 million in net assets under management.
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Australia Business Conditions Improve in August, Cost Pressures Ease

A measure of Australian business conditions picked up in August as firms reported better profits and employment, while input costs grew at the slowest pace since 2021 in a promising sign for inflation and margins, Reuters reported. The survey from National Australia Bank showed its index of business conditions rose two points to +7 in August, taking it back to the long run average. A more volatile index of business confidence eased 4 points to +4, but again was around the long run trend.
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