MONEY MASTER

According to Deloitte, British consumer sentiment  fell by 2.6 percentage points  in Q2 — marking the  sharpest drop since 2022  and hitting its  lowest point since early 2024 . What's Driving the Decline? Job Security Fears Consumers are getting nervous as  unemployment hits 4.7%  — the highest since 2021. Companies are cutting back on hiring, partly due to: Higher employment taxes Minimum wage hikes (April) Stricter employee protection laws   Cost-of-Living Pressure Inflation is back at  3.6% (June)  — making daily expenses heavier and  pushing debt sentiment lower . Mixed Signals from the Economy Interestingly, while consumers feel worse, Deloitte notes  business confidence is rising  (per their CFO survey). And another sentiment tracker (GfK) showed improvement.  “We’re seeing resilience in the face of global uncertainty,” said Deloitte’s chief economist Ian Stewart. But make no mistake — this drop in confidence i...

  Key Takeaways: Record Cash Decline : Japanese households reduced their collective cash holdings by 3.4% year-on-year, marking the largest drop since the Bank of Japan (BOJ) began tracking this data in 1998. By the end of December, their total cash holdings had fallen to ¥105.3 trillion (approximately US$707 billion or RM3.11 trillion). Inflation and Spending : The drop in cash is largely attributed to rising living costs as inflation impacts household finances. This comes after a period of cash hoarding during the Covid-19 pandemic, which saw a surge in cash savings. Cashless Trend : The shift towards cashless payments is contributing to the reduced need for physical cash. The adoption of digital payments and increased consumer spending are driving the change in how Japanese citizens handle their money. Rise in Investments : While cash holdings are declining, investment assets are on the rise. Investment trust holdings hit a record high, and individual investments in Japanese gov...

The federal government will prioritize several strategies to stabilize inflation and tackle rising living costs in Budget 2025 , according to Deputy Prime Minister Datuk Seri Fadillah Yusof . Fadillah, who also serves as the Minister of Energy Transition and Water Transformation , shared this during the Sabah, Sarawak, and Federal Territory of Labuan Price Stabilization Committee Meeting he chaired on Tuesday. He emphasized that the government’s efforts to stabilize the prices of goods and services align with the core principles of the Madani government to safeguard the well-being of the people. "I welcome new initiatives, whether short, medium, or long-term, especially those that can directly contribute to the goal of stabilizing prices," Fadillah said. "This will benefit the people by helping them cope with the challenges of the cost of living, both now and in the future." Fadillah also proposed including representatives from several related agencies in Sabah,...