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ASX Dips, RBA on Rate Hike Alert
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Australias ASX opened lower, dragged by energy, mining, and bank stocks, despite Wall Streets gains. The Reserve Bank maintained rates at 3.6%, but hinted at potential hikes. Unemployment remained steady at 4.3%, but underemployment surged. Market bets on a February rate rise intensified, raising concerns for mortgage holders. The economy grew by 0.4% in Q3, boosted by data centers and housing. Inflation rose to 3.8% in October. The government delivered a budget update, amid talks of higher rates in 2026. ASX experienced another trading halt, and global markets plummeted. The RBAs next moves are under scrutiny, following a regulator probe. Checkout Solipillow.com
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01:45|Tragedy strikes Swiss ski resort: A New Years Eve fire at a popular bar in Crans-Montana leaves at least forty dead and one hundred fifteen injured. Witnesses blame sparklers attached to champagne bottles for igniting the blaze, causing a rapid spread of flames and chaos. The community mourns, with officials warning it may take days to identify victims. Police investigate the cause of Switzerlands potential worst disaster in years. Checkout Solipillow.com