RBA
Australians love their cash and will carry or hoard it
23 April
If you are one of those people who still carry a bunch of $10 or $20 notes around in your pocket in case of emergencies, you’re not alone. While a majority of payments made in Australia are done by electronic means, including cards, about half of...[Read More]
Credit card points schemes in firing line after tweaks
9 April
Overseas trips and hotel stays funded through credit reward schemes could be in trouble as Australia’s central bank cuts fees on card transactions. The Reserve Bank has revamped card usage by banning surcharge payments and cutting interchange...[Read More]
Aussies tapping more credit as arrears value swells
26 February
Australians have leaned into debt ahead of the central bank’s pivot to hike interest rates, with applications for mortgages and credit cards doubling in the recent quarter. Mortgage credit demand grew 12.3 per cent, while credit card applications...[Read More]
RBA hikes interest rates six months after last cut by 25 basis points, board lifted the cash rate to 3.85 per cent
3 February
The Reserve Bank of Australia has hiked interest rates by 25 basis points, becoming the first major central bank to go from rate cuts to rate hikes following the post-COVID inflation spike. In a unanimous decision on Tuesday, the RBA’s monetary...[Read More]
Jobs and wage data in focus ahead of interest rate call
15 May
Upcoming wages and unemployment data may have significant bearing on the Reserve Bank’s closely watched interest rate decision. Domestic signals have taken somewhat of a back seat since US President Donald Trump’s tariff dump in early April. But...[Read More]
Big bank clips rates as RBA mulls next move
6 February
NAB has become the first big bank to reduce fixed-interest mortgage rates in 2025, as expectations of an impending Reserve Bank rate cut remain high, despite surprisingly strong retail spending. Rate tracking by comparison site Canstar shows NAB...[Read More]
Don’t put money on rates relief soon, borrowers warned
26 September
There are still no plans to cut interest rates soon as the Reserve Bank held the cash figure steady for what will be a calendar year. The RBA wants more signs inflation is under control before it will consider lowering rates, Governor Michele...[Read More]
Interest rates kept on hold despite inflation worries – leaving interest rates at 4.35 per cent
7 May
Borrowers have been spared more mortgage pain following the Reserve Bank of Australia’s decision to keep interest rates on hold for the fourth meeting in a row. The board came to its decision on Tuesday after two days reviewing the the state of...[Read More]
ACCC probe to ensure savers get fair deal
11 January
The consumer watchdog has been asked to look into interest rates for savers amid concern banks aren’t offering their customers a fair deal. Treasurer Jim Chalmers urged the Australian Competition and Consumer Commission to investigate the matter,...[Read More]
Earnings, yield to drive returns in 2023
4 January
It’s been a tough year for most equities and investors will likely have to accept lower returns in 2023 – but Australia will still likely outperform its global peers, according to a boutique fund manager. SG Hiscock portfolio manager Hamish...[Read More]
RBA decision risks higher cash rate peak
6 October
The surprise slowdown in the pace of rate rises risks dragging out the rate hiking cycle and forcing the central bank to go even higher than expected to dampen demand. The Reserve Bank of Australia’s 0.25 percentage point lift is the sixth...[Read More]
Consumer spending slowdown starts to show
14 September
Rate hikes and the soaring cost of living are finally starting to weigh on household spending. Non-essential outgoings decreased in August, according to CommBank’s household spending intentions index, with sectors such as travel,...[Read More]
RBA flags end of big-hit cash rate rises
7 September
The central bank delivered another super-sized rate hike in September but economists expect future rate rises to be more restrained. The Reserve Bank of Australia hiked interest rates by 50 basis points on Tuesday, bringing the official cash rate to...[Read More]