Economy

Only 4 per cent of consumers are “justifiably confident” in their financial literacy, with the majority failing to grasp basic concepts, a FINSIA survey has found.

ASIC has written a letter urging financial firms to prepare to transition from LIBOR to other benchmarks, taking into account the impact and risk of the change.

The number of bankruptcies in Australia has fallen to a 24-year low, according to the Australian Financial Security Authority.

Prime Minister Scott Morrison has announced a new First Home Loan Deposit Scheme that will enable first home buyers to access a mortgage with a 5 per cent deposit.

National Australia Bank has said it will remove and reduce some of the 400 fees it charges to customers as part of its “drive to be simpler and more transparent”.

The central bank has downgraded its GDP growth and inflation forecasts, prompting concerns that its monetary policy position may be undermining its credibility.

An increasing number of Australians are expected to fall into negative equity as home prices continue to weaken; however, the level of risk associated with the fall will be dependent upon ...

The Reserve Bank of New Zealand has cut the official cash rate for the first time since November 2016, just a day after Australia’s central bank resisted pressure to pull its rate lever amid ...

A neo-lender has appointed Morgan Stanley to assist with a new capital-raising initiative designed to fuel its entry into a new growth phase.

The decline in house prices is considered the greatest risk to Australia’s credit markets by the majority of investors that were surveyed by Fitch Ratings.