Economy

The central bank has issued a monetary policy update following its latest monthly board meeting.

The government-backed home deposit scheme has accelerated the home ownership ambitions of prospective first home buyers by an average of four years, new data has revealed.

Lenders are expected to increase variable home loan rates despite cash rate inertia from the Reserve Bank, according to analysts.

The lender’s loan originations have almost doubled, contributing to a 136 per cent increase in operating revenue.

A non-major bank has lowered its variable rate for new and refinancing owner-occupiers on principal and interest repayments.

It is unlikely that national transaction activity and property listings would bounce back as quickly after the second lockdown in Victoria as it did after the first.

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The business lender has reported a decline of over 10 per cent in its total loan originations amid challenging economic conditions during the COVID-19 crisis.

A 79 per cent spike in the non-bank’s earnings has been spurred by a 30 per cent increase in home loan settlements.

Citi Australia has announced that its head of investment specialists, Gofran Chowdhury, has been promoted to head of banking and wealth management distribution.