Check out the lasting effects of interest rate decisions, political advertising on Facebook and hidden bank fees. (Reading time 3:24 mins)
This information does not take into account your personal objectives, financial situation or needs. You should consider if the relevant investment is appropriate having regard to your own objectives, financial situation and needs.
1. Interest rates stay put for now
The Reserve Bank of Australia (RBA) announced its keeping interest rates at the record low of 1.5%. While the corresponding statement from RBA Governor Phillip Lowe was relatively positive – citing an uplift in non-mining business investment and employment growth – sluggish wage growth and rising household debt doesn’t warrant an interest rate hike just yet.
What does this mean if you’re invested in the share market?
2. Undemocratic Facebook ads
Facebook is now at the centre of investigations into Russian involvement in the 2016 U.S. elections after finding politically divisive ads bought by Russian groups geared at swaying voters. The social giant confirmed approximately 10 million people saw the Russian-linked ads and have since handed over 3,000 copies of ads (found so far) to Congress.
What does this mean if you’re a Facebook shareholder?
3. The billion-dollar FX fee sting
Australia’s big four banks (NAB, CBA, ANZ, Westpac) have pocketed billions from hidden foreign exchange rate charges known as ‘mark ups’. Complex fee structures in the financial sector are by no means a novel concept, but you might be surprised to find the big four charge up to 30 times the rate of their American and European counterparts.
What does this mean if you’re invested in Aussie bank shares?
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