Economy

The Queensland government and lenders have begun offering financial assistance to those affected by Cyclone Niran in Queensland.

Australia’s GDP grew by 3.1 per cent during the December quarter, beating market expectations of a 2.5 per cent increase, official figures show. 

The central bank has made its official interest rate decision for the month of March.

Superannuation Minister Jane Hume has denied the government is considering a backbencher’s proposal to allow first home buyers to withdraw retirement savings for housing deposits.

Analysts have flagged that the banking sector may be exposed to more risk than some of its Aaa-rated peers, reflecting banks’ high exposure to mortgages.

A study has underscored concerns about the dependence on “cheap money” policy for housing, instead suggesting that social housing could be more effective in stimulating the market.

Mortgage stress had increased in the three months to November 2020 compared with three months prior, indicating that winding back government support would “test” the housing market, ...

The cash rate could remain at its current record-low levels for longer than three years, and as long as necessary, the RBA has said.

The central bank has announced its first cash rate decision for the year 2021.

The central bank has announced a new record-low cash rate in its February board meeting, a decision that was unexpected by the market.