Economy

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.

Resimac closes $500m RMBS transaction
28 May 2020
Resimac closes $500m RMBS transaction

The non-bank lender has issued its first RMBS transaction since the COVID-19, with the AOFM providing secondary market support with cornerstone investors.

Outlook turns negative for mutual banks: Moody’s
28 May 2020
Outlook turns negative for mutual banks: Moody’s

The investor service has revised its outlook for mutual banks to negative, as the economic fallout of COVID-19 continues.

PM fears impact of migration slide on residential sector
27 May 2020
Scott Morrison

Prime Minister Scott Morrison has acknowledged the threat that a COVID-induced decline in migration could pose to residential property market activity.

FHLDS scheme exhausted
27 May 2020
FHLDS scheme exhausted

All 5,000 places allocated for non-major participating banks within the FHLDS have now been exhausted, three months after launching.