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Australia Consumer Sentiment Climbs Even as Trump Clouds Outlook
1 month, 1 week ago

Australia Consumer Sentiment Climbs Even as Trump Clouds Outlook

Live Mint  

Australia’s consumer confidence rose in November, building on last month’s gains as households are no longer concerned about the risk of further interest rate increases, though Donald Trump’s election victory caused some uneasiness. The details showed that consumer sentiment was “markedly higher” at the start of the week with an index reading of 99.7 but posted a sharp fall following …

Consumer Trump
Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable
10 months ago

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable

ABC  

In short: Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. The Reserve Bank board says "a …

Tax Inflation Monetary Policy Bank Interest Rates Interest Rate
Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas
1 year, 1 month ago

Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas

ABC  

Despite high levels of pessimism among Australian consumers, David Wall has noticed a lot of people are buying board games and puzzles at his toy stores ahead of the Black Friday sales. "While we expect overall Christmas trading will be subdued, we're expecting this by Friday to be a record simply because people are shopping on a budget, and they're …

Christmas Inflation Black Interest Rates Sales Spending Period
Westpac announces it will be changing ATM withdrawal limit
1 year, 5 months ago

Westpac announces it will be changing ATM withdrawal limit

Daily Mail  

Westpac has announced it will be changing its withdrawal limit from ATMs as fears are raised over the dangers of an increasingly cashless society. Independent payments market expert Lance Blockley estimated that by 2025 traditional cash would make up less than 4 per cent of total retail purchases across the country Experts have warned of the dangers of an increasingly …

Society Commonwealth Cent Customers Rba Britton Transactions
AFP money-laundering bust highlights Australia's gaping real estate vulnerability
1 year, 10 months ago

AFP money-laundering bust highlights Australia's gaping real estate vulnerability

ABC  

As financial sector lobby groups frequently note, the banking industry is highly regulated. Money laundering laws Photo shows Money is taken out of a wallet A lack of political will has seen successive Australian governments fail to extend money laundering laws to cover lawyers, real estate agents and accountants, ANZ Bank says. "This $10 billion money-laundering factory is another example …

Real Estate Australia Money Laundering Money Million Estate Real
Expanding the Home Guarantee Scheme comes with pros and cons for first-time property buyers
2 years, 8 months ago

Expanding the Home Guarantee Scheme comes with pros and cons for first-time property buyers

ABC  

The government is planning to expand the Home Guarantee Scheme, which allows first home buyers to purchase with a deposit of as little as 5 per cent. Key points: The price cap on Home Guarantee Scheme loans will be lifted by up to $150,000 in some areas and $100,000 for most capital cities Analysts say it will give first home …

Property Prices Interest Price Cent Rates Melbourne
House prices depend on interest rates: as one goes up, the other will fall
3 years ago

House prices depend on interest rates: as one goes up, the other will fall

ABC  

It's very likely house prices, at least in Australia's two biggest cities, will fall at some point over the next couple of years. While it's mainly longer-term fixed rates rising at the moment, they're going up because financial markets expect the Reserve Bank to lift interest rates long before its previous aim of 2024. That why Gareth Aird noted that, …

Homes Housing Prices Interest Rates Interest Fall House
The ticking time bomb threatening 900,000 Australian borrowers
3 years, 9 months ago

The ticking time bomb threatening 900,000 Australian borrowers

Daily Mail  

A mortgage time bomb is threatening almost 900,000 Australian home borrowers who are behind on their repayments - and it could get worse from next month. Despite interest rates being at a record low of 0.1 per cent, 31 per cent of Australians with a home loan are in arrears, a survey by financial comparison website Finder found. Pictured is …

Bank Mortgage Covid Cent Borrowers Fixed Westpac