Economy

The number of homes taken to auction across the nation almost doubled week-on-week, following on from a seasonal lull in auction activity so far in 2020.

Westpac Group has announced a range of support measures for business customers financially affected by the coronavirus outbreak, including loan deferrals and extensions.

Loyal investors have been hit hardest by the pricing gap between new and existing customers, new data has revealed.

There’s a “high chance” that quantitative easing will be required following additional cuts to the cash rate, despite the RBA’s “upbeat” economic outlook, according to one senior economist

A big four bank has updated its home loan serviceability assessment policy for the second time in response to APRA’s regulatory amendments.

Bendigo and Adelaide Bank subsidiary Leveraged Equities Ltd has announced the appointment of Lily Elliott as its new head.

The Federal Court has ordered the wealth giant to pay a $5-million penalty after the bank failed to prevent its financial planners from engaging in insurance churn.

“It is possible to have too much of a good thing,” RBA governor Philip Lowe has warned in reference to a rate-induced spike in housing credit demand.

The lender’s mortgage insurance company has reported a 60 per cent increase in its statutory profit and has also announced the appointment of its new chief executive.

The Reserve Bank will proceed with its monetary policy easing strategy despite maintaining a “surprisingly” positive outlook for economic growth, according to one economist.