On this episode of Financial Services Online, we discuss Australia's current financial picture. With inflation reaching 3.6%, the Reserve Bank is expected to maintain high interest rates, potentially causing further strain on households, particularly those dealing with mortgage pressure. Additionally, a legal case against leading insurance firms SGIO, RACV, and SGIC alleges the use of an unfair algorithm that manipulates long-term customers into paying higher premiums than new ones. In the auto industry, Tesla leads the electric vehicle market as certain Japanese manufacturers struggle to keep up. Lastly, we examine a trend in superannuation where more people are shifting from industry super funds to self-managed ones. For detailed coverage of these stories and more, visit financialservicesonline.com.au.
