Economy

ME Bank called back in for questioning
3 June 2020
mortgagebusiness

The lender and financial regulators face a new round of questioning in front of the economics committee today, after the chair found discrepancies in responses that he said were “deeply ...

Calls for negative interest rates renewed
2 June 2020
Calls for negative interest rates renewed

The central bank has been urged to consider further cuts to the cash rate in the wake of the unprecedented COVID-19 crisis.

Government to introduce new home-buying stimulus
2 June 2020
Government to introduce new home-buying stimulus

The federal government is preparing to introduce new home-buying grants aimed at providing long-term support to the residential property sector as it grapples with the COVID-19 crisis.

Stamp duty to be scrapped by 2021, analysts predict
2 June 2020
Stamp duty

Two-thirds of analysts are expecting state governments to axe stamp duty in the next two months, according to a new survey.

Auction numbers climb as restrictions ease
2 June 2020
Auction numbers climb as restrictions ease

There has been an upward trend in the number of auctions held and a reduction in withdrawals since the lifting of bans on on-site auctions.

Lowe calls for new monetary policy ‘mindset’
1 June 2020
Philip Lowe

There’s a limit to what monetary policy can do to manage economic cycles in the foreseeable future, the Reserve Bank governor has said before calling for fiscal policy to play a “more ...

Major bank executive retires
29 May 2020
Major bank executive retires

The chief executive of a major bank’s institutional arm has announced their retirement after more than 30 years in the sector.

Capitalised mortgage deferral costs ‘entirely manageable’: Lowe
29 May 2020
Capitalised mortgage deferral costs ‘entirely manageable’: Lowe

The Reserve Bank governor is confident borrowers will manage higher mortgage repayments upon the expiry of deferral periods.

COVID-19 curbs Perth housing recovery
29 May 2020
housing recovery

The onset of COVID-19 has put the brakes on momentum in Perth’s housing market, which is instead on the cusp of another downswing.

AFCA receives over 3,000 complaints amid COVID-19
28 May 2020
AFCA receives over 3,000 complaints amid COVID-19

The financial complaints body has announced that it has received thousands of complaints in the two months since COVID-19 was declared a pandemic.