Westpac Wire

For many, maths is to be endured. Few people have done more to challenge that mindset than Eddie Woo, who built a career making the subject accessible, even - if you can suspend your disbelief - enjoyable. By his own admission, the Sydney suburban high school teacher turned maths-fluencer was more late-bloomer than child prodigy. Initially preferring the humanities subjects, what he lacked in natural numerical nerve he made up for with dogged curiosity.

Australians haven't fallen out of love with property, but they are struggling to decide whether now is the best time to act. New Westpac research reveals an emerging national mood for prospective homeowners, torn between ambition and anxiety. While Australians still believe property is the best way to build long-term wealth, many are delaying major housing decisions as they weigh up personal finances against the state of an economy in flux.

Australians are feeling more pessimistic about their finances than at almost any point outside a recession, as higher mortgage repayments and rising petrol prices continue to squeeze budgets. For many households, the question is no longer when rates will start coming down, but whether they will rise again before Christmas.

"There's nothing I can say to make households feel better about this." With those words, RBA governor Michele Bullock acknowledged the reality facing millions of borrowers after the central bank lifted the cash rate by 0.25 percentage points to 4.6 per cent, its highest level since 2011. Faced with the choice between a hold and a 25 basis point hike, the monetary board unanimously opted for the latter, in line with market expectations.

When Jane Cay launched a bricks-and-mortar fashion retailer in the small country town where she grew up, she “could not have dreamed the journey” that lay ahead. More than 20 years later, birdsnest has grown into one of regional Australia's e-commerce success stories – a multi-million-dollar retail operation shipping fashion around the country from its headquarters in Cooma in the NSW Snowy Mountains.

Earlier this month, Westpac chief economist Luci Ellis noted that “the probability of the September scenario is not zero.” That possibility has now become Westpac's base case, with Ellis forecasting the Reserve Bank of Australia (RBA) will decide on a 25 basis point rate hike at its next meeting on 29 September, lifting the cash rate to 4.6 per cent. The revised outlook reflects growing signs that inflation may prove harder to bring under control than previously expected.

Westpac chief economist Luci Ellis has updated her cash rate forecast after stronger-than-expected economic data pointed to more persistent inflation pressures. Ellis said a 25 basis point rate hike in November, taking the cash rate to 4.60 per cent, is now Westpac’s base case. “The main reasons for the shift are the growing evidence of a more resilient household sector, and a larger-than-expected impetus from the spillovers from the data centre boom,” she said.

As a proud Greek Australian, there's one language that connects us all: food. It's central to celebrations, it's a bowl of comfort when you're not feeling great, and it's nostalgic, stirring memories of family, friendship, fun and laughter. So, when the opportunity arose to combine my passion for food with my role in supporting hospitality customers grow their businesses, it felt like a dream come true.

Queensland recorded the strongest female founder pipeline nationally, with women accounting for 45.1% of sole traders and 16.3% of companies, the highest result in Australia on both measures. The ACT (15.8%), Northern Territory (15.4%), Victoria (15.3%) and NSW (15.2%) followed closely behind. Western Australia recorded the largest gap between women starting businesses and leading incorporated companies, with representation falling from 43.1% of sole traders to 13.3% of companies.

Australia's inflation rate has continued its gradual softening, but underlying price pressures remain elevated, reinforcing expectations that interest rates could stay higher for longer. The Australian Bureau of Statistics (ABS) has reported a further easing of headline inflation to 3.5 per cent in the 12 months to July, down from 3.8 per cent in June. Housing costs continue to be the biggest driver of annual inflation, rising 5.0 per cent year-on-year.