Economy

The Australian economy saw strong growth in the September quarter, officially bringing the country out of recession.

The Reserve Bank has announced its cash rate decision for the month of December, staying in line with market expectations.

The Australian economy is unlikely to see a “lasting drop” in potential growth due to the COVID-19 crisis and should see a sustainable recovery, according to new analysis.

A CBA economist has revised his economic outlook to paint a more optimistic picture amid the COVID-19 crisis, and dismissed comparisons with the Great Depression.

The demand for mortgages has remained strong during the September quarter despite weaker overall consumer credit demand, according to data.

Despite October 2020 recording the highest level of mortgage activity this year, the major banks saw zero net growth in volume, according to new data.

The prudential regulator has provided guidance on the interim capital treatment of new or additional equity investments in banking and insurance subsidiaries.

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The Reserve Bank of Australia has noted that while there are record-low interest rates on SME loans, there is still subdued demand for business credit.

An Australian fintech that aims to provide customers with an aggregated view of the cost of their banking has branched out into mortgage broking.