Corporate regulator ASIC, now in charge of consumer credit has taken target against predatory lenders try to take out applications to become a licensed credit provider reported SMH BusinessDay. “Figures published yesterday provided a first glimpse of how new rules designed to stamp out rogue operators have changed the consumer credit industry, which is known for [...]
The minute’s presented from yesterday’s RBA board meeting convay that the central bank shall be looking to keep Interest Rates on hold for the foresable future, amid new threats from international markets reported SMH BusinessDay. The economy was unlikely to grow as quickly as expected this year, the RBA said, because the threat of a financial [...]
The RBA has indicated today that they shall await for further information and new economic data before making any decisions on moving interest rates reports SMH BusinessDay. The RBA said consumer price index (CPI) data, a key measure of inflation, would be key in determining its views about future interest rate moves. The Australian Bureau of [...]
Westpac Bank has been the first major financial institution to bet for a Interest Rate cut this remaining year instead of any hikes by the RBA reported SMH BusinessDay. “The Reserve Bank will cut the interest rate four times in 2012 to avoid hurting an economy that is already showing signs of contraction, Westpac said today.” [...]
The RBA has been placed on alert after fears of Italy’s debt defaults situation raised, causing the bank to now look at not only placing rates on hold for the future, but the prospects of cutting rates to curb the fallout should anything worse happen reported SMH. “It has become increasingly likely the Reserve Bank now [...]
The latest set of figures released from May has shown home loans are on the rise on the back of a negative quarter reports SMH BusinessDay. “After three months of declines earlier this year following floods in Queensland and Victoria, loan approvals rose 4.8 per cent in April and a further 4.4 per cent, to a [...]
Below article extracts courtesy of SMH BusinessDay, written by Mr Peter Martin. “The Reserve Bank no longer expects to raise interest rates this year. The new position follows an upgraded assessment of the risk of a new global financial crisis and a decision to abandon its Australian economic growth forecasts for 2010-11 and 2011.” “For the [...]
Economists are expecting the the Reserve Bank will continue to keep interest rates on hold for another month and for most of the short-term foreseeable future reports SMH BusinessDay. “The ANZ Bank tipped two rate rises by December in a Fairfax half-yearly economic survey published on Saturday. In a note to clients released yesterday entitled Change [...]
Monthly HIA (Housing Institute of Australia) new property sales figures released last week again show NSW and VIC dropping off respectively 7.8% and 6.8% reported SMH BusinessDay. “Leading indicators of new home construction are universally weak and unfortunately the May update for new home sales is no exception,” said HIA chief economist, Harley Dale. “The housing [...]
As interest rates gain further momentum to increase, new research from RateCity shows mortgage stress amongst households is on the rise, being 30% of a households gross income going towards mortgage repayments reports SMH Money. “RateCity set the average mortgage in each state against the average income for that state to see who’s most under stress [...]
