Why the RBA is being roasted on Facebook over rates
RBA social media posts backfire for rate-hardened Aussies, global bank backs down on scamming charges, and seniors get reprieve on basic care costs. Here are five things you may have missed this week.
RBA takes to social media to sell rate hikes
If you can't beat influencers, why not join them?
This seems to be the logic behind the Reserve Bank of Australia's (RBA's) push to use social media to defend its interest rate decisions, with recent posts aiming to explain why a loaf of bread that cost $3 in 2016 now costs $5 or more.
Sadly, the message may not reach many inflation-weary Australians.
The RBA has only 17,000 followers on Facebook.
The UK equivalent, the Bank of England, has a more respectable 60,000 followers.
The Commonwealth Bank has a thumping 800,000-plus followers on Facebook.
Even so, banks don't just have the cache of soccer stars like Christino Ronaldo, who has amassed 171 million followers.
The RBA may also be discovering that social media can be something of a game of chance when it comes to garnering consumer support.
The central bank's post about the cost of a loaf of bread attracted several hundred comments - plenty of which may not have been what the bank was hoping for.
Comments included:
"I'd rather pay an extra $2 for a loaf of bread than an extra $200 on my mortgage"
"Bread is now $5, so to help you with that, we're going to make sure your mortgage is now $500 more than it used to be", and "Time to buy a Bread Machine".
One insightful reader summed up the situation, noting, "Guessing your social media team was hoping for 'positive' comments lol".
HSBC backs down on scamming court case
HSBC, one of the world's biggest banks, has tossed in the towel on a court fight against corporate watchdog - the Australian Investments and Securities Commission (ASIC).
In the first case of its kind in Australia, ASIC alleged that HSBC Australia didn't have adequate controls in place to detect and prevent scams, and to properly respond to customers who reported losing money to scams.
ASIC alleges that between January 2020 and August 2024, HSBC received approximately 950 reports of unauthorised transactions. This ramped up significantly from mid-2023 when scammers gained access to customer accounts by impersonating HSBC staff.
Some HSBC customers lost $90,000 or more to scammers, and ASIC says HSBC "failed to protect its customers".
In a remarkable turnaround, HSBC has given up its fight, admitting to a number of ASIC's allegations just weeks before the case was due to be heard in court.
It's not over yet.
HSBC will face a one-day hearing in mid-June.
At the time of writing neither HSBC nor ASIC have commented on the bank's about-face.
But it's sure to see other banks lift their game when it comes to protecting customers against cyber-crooks.
No more $50 showers for seniors
This week saw the Federal Government expand clinical care support for seniors under the Support at Home program to include showering, dressing and continence management.
Under the scheme, launched in late 2025, seniors are expected to contribute to the cost of various in-home services depending on their income.
The ABC reports some elderly Australians could end up paying $50 an hour for basic personal care services like showering.
Minister for Aged Care and Seniors, Sam Rae, says, "Showering, dressing, continence care - these aren't optional extras. They're the basics of ageing with dignity, and no older Australian should miss out because of cost."
However, Council on the Ageing (COTA) Australia says the expansion of care services only corrects a problem that should never have existed.
COTA Australia Acting CEO, Corey Irlam, says, "Basic care like showering should never have been treated as an optional extra in aged care.
"Returning crucial supports like showering and dressing into clinical care, where they are fully government funded, is a welcome 'win' for older people.
Seniors will still need to foot the bill for basic care until October 2026.
ABS launches national hunt for Census Field Officers
Keen to earn extra cash?
The 2026 Census could be a golden opportunity.
The Australian Bureau of Statistics (ABS) is hiring more than 16,000 Field Officers for the Census.
The hourly rate of pay is $31.19 plus super.
Emily Walter, Census National Spokesperson, says, "We need people from across Australia to join the Census team, to help us to ensure everyone in Australia on Census night is counted."
Field Officers will answer the public's questions about the Census, deliver Census letters and forms and follow up with those who have not responded.
"We're looking for people who are willing and motivated to help others and can communicate sensitively and respectfully," says Walter.
If you're interested, head to the ABS census website. Census night is August 11, 2026.
Only one in 10 Aussies feel comfortable buying at auction
If the idea of bidding at auction leaves you icy cold, you're not alone.
A survey by Great Southern Bank found only one in 10 Australians feel comfortable buying a home at auction.
Over 40% of Aussies say their preferred way of buying a home is a private sale through a real estate agent. Over one in four (27%) would rather deal directly with the property owner.
Among those who feel comfortable buying at auction, almost one third believe this method of sale might land them a better price, while 27% say they have more control over the outcome.
The reality however is that Sydney and Melbourne are the primary auction hubs across Australia. Auction sales represent a fraction of the market elsewhere.
Cotality notes that the ANZAC Day long weekend is set to see a lull in auction action, with 770 homes scheduled to go under the hammer this week, bouncing back to approximately 2660 homes the week after.
Get stories like this in our newsletters.
