Financial advisers say fintech apps track your spending, but they don’t necessarily change your behavior. WSJ reporter Imani Moise joins host J.R. Whalen to discuss why a spreadsheet may be more effective at helping people maintain a budget. Daisy Korpics/The Wall Street Journal

Retail sales hit a record in September as warmer weather saw consumers bring forward some purchases, but will it add to the case for an official interest rates rise? SBS Finance Editor Ricardo Gonçalves speaks with AMP Chief Economist Shane Oliver for more, along with Stuart Roberts from Stocks Down Under for the market reaction. Plus Rhayna Bosch finds out why Australia should impose EU style compensation policies for cancelled flights with Ellis Taylor from Cirium Aviation.

Robust retail sales data have failed to reassure investors on Monday with the Australian sharemarket following Wall Street’s poor lead to close below 6800 points.

A record spike in immigration has contributed to the biggest growth in retail turnover since January as the nation spent up big at department stores in September, increasing the odds that the Reserve Bank will be forced to lift interest rates next Tuesday.

Australian Retailers Association Industry Affairs Chief Fleur Brown says there is “a lot of uncertainty” and challenges for businesses as the Christmas trading period approaches.

“It’s a battle out there for consumers, but also for retailers, particularly small retailers,” Ms Brown told Sky News Australia.

“Unfortunately, the results are telling us that there’s a lot of uncertainty out there and so many challenges for these businesses to face as they head into the really important Christmas trading period.”

Ms Brown said retailers and Australians are awaiting the RBA’s interest rate decision next Tuesday as that will determine how much people spend over the Christmas period.

“We are hoping that rates will stay on hold, and that will give a little bit more optimism for retailers,” she said.

WA’s only director on the Hort Innovation board has thrown his hat into the ring for a second term in a bid to ensure the powerhouse sector has representation from the west. 

Retail spending jumped higher in September, as shoppers embarked on a spending spree, adding further pressure on the Reserve Bank to hike rates on Melbourne Cup Day.

With monthly retail spending rising the most since January, pressure is mounting on the Reserve Bank to hike rates when its board meets next week.

National retail sales lifted in September as shoppers felt the change of seasons in their wardrobes and homes and grabbed the latest technology. But WA bucked the trend after a strong showing the month prior.