What Trump’s victory means for your money

From a sugar-hit to your super, to higher-for-longer interest rates, and a trade-war on the horizon, here’s what Trump 2.0 means for your finances.

Lucy Dean, Michelle Bowes and Joanna Mather

Updated Nov 10, 2024 – 1.42pm, first published at Nov 8, 2024 – 4.05pm

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The prospect of lingering mortgage pain in the form of higher rates for longer is the outcome of the US election of most consequence to the finances of many Australians.

As a result of Trump’s re-election, bond markets are betting the Reserve Bank of Australia will make its first rate cut in July rather than May, adding hundreds of dollars to monthly mortgage repayments.

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Lucy DeanWealth reporterLucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom.

Michelle BowesWealth reporterMichelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls.

Joanna MatherWealth editorJoanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023.