In Wednesday, December 18th, 2024's financial news, private credit continues to flourish despite the changing interest rate landscape, achieving a valuation of US$1.5 trillion thanks to changes in the banking industry in the United States and Europe. Homeowners in cyclone-prone areas of Queensland are found to be inadequately insured, highlighting the need for comprehensive coverage in high-risk zones. In consumer finance, Australian Christmas grocery costs show slight relief, attributed to lower wholesale prices, although concerns about misleading discounts from large grocery chains persist. Lastly, the Australian Prudential Regulation Authority faces scrutiny over superannuation funds' default insurance settings as concerns over possible overcharging for premiums increase. Visit financialservicesonline.com.au for more updates.
