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Rudd in talks with RBA chiefs

Inflation is tipped to be the main topic of discussion when Prime Minister Kevin Rudd and Treasurer Wayne Swan meet Reserve Bank officials today.

Mr Rudd and his Government have put tackling inflation as one of the key priorities of the new year.

Federal efforts to cut spending are likely to be one of the main topics of today's talks.

The Department of Foreign Affairs and Trade (DFAT) is slashing its budget by $57 million, with a number of overseas diplomats to be recalled and programs to promote Australian culture overseas being cut to fund the savings.

The Federal Government says it does not believe the changes will affect its foreign policy priorities.

Mr Rudd says the talks will look at the challenges posed by higher inflation and will help shape the Federal Government's future economic policy.


New Year, New Consumer Scams

The chances of someone good knocking on your door offering to help you save your house is very slim," says Ralph Roberts, author of "Protect Yourself From Real Estate and Mortgage Fraud."

3. Disaster-related schemes Floods in the Northwest, wildfires in California. Scams proliferate whenever and wherever a disaster hits.

Residents in the affected zones should be particularly wary of offers for cheap home repair and clean-up. Earlier this month, the Washington State attorney general issued a warning against such scams, cautioning residents that the con artists typically demand payment upfront and "never do the work, do a shady job or require additional money once the job starts." To protect yourself, be sure to check up on your contractor: They must be registered with the state's department of labor and carry liability insurance coverage.


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