Economy

The Tasmanian bank has announced the sale of its financial planning business assets to Fiducian Group.

A global investment bank has announced its plans to expand its commercial offering to multinational Australian businesses after identifying “significant opportunities” in the market.

It is “unlikely” that the federal government’s first home buyer scheme will achieve its objective of improving housing affordability, according to a new analysis from CoreLogic.

Moody’s has backed the Reserve Bank’s monetary policy adjustment, adding that it expects the monetary policy boost to help revive the floundering domestic economy.

Demand for home rebuilds in Sydney has remained stagnant over the last 12 months, despite the other challenges that have plagued the housing market, a Metricon executive has observed.

Two of the big four banks have slashed the interest rates they pay on savings accounts, a week after passing on the Reserve Bank’s 25-basis-point cash rate cut to borrowers.

Teachers Mutual Bank has dropped its variable mortgage rates, becoming the latest lender to cut its rates following the RBA’s rate move. 

Consumers are more pessimistic about the economy following the Reserve Bank’s rate cut in June, according to new survey results.

The upper quartile of the housing market has suffered the sharpest declines in dwelling values, but according to CoreLogic, prices in that segment are slowly returning to equilibrium.

The mutual bank has announced the introduction of a new investment home loan product.