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Economy

Dwelling approvals drop in December

Property approvals have fallen for the third consecutive month, according to the Australian Bureau of Statistics.

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Cyber risks the biggest threat to banks: Westpac

The “biggest single risk” to security in the banking sector is cyber risk, according to Westpac’s CEO.

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Economic indicators pointing to a rate hold

The Reserve Bank of Australia will have no choice but to keep the cash rate at its record low of 1.50 per cent, an analysis of economic indicators has revealed.

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Sydney prices to fall by up to 10% this year

A senior economist expects price falls in Sydney and Melbourne to continue after the latest CoreLogic figures found that capital city home values are gradually declining.

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Confidence rises as business conditions linger ‘well above average’

Business confidence levels are rising and are an “encouraging sign for investment”, according to the National Australia Bank.

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Major bank CEO divulges ‘significant failures’

The chief executive of a big four bank has said that he is “ultimately accountable” for the financial harm and emotional stress customers have faced as a result of the group’s misconduct

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Aussies face credit card bill totalling almost $30bn

Australian credit card holders collectively owe almost $30 billion following rampant credit card spending over the holiday period.

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Consumer confidence bounces back

New data from ANZ and Roy Morgan Australia has suggested a recovery in consumer confidence, reversing a recent downward trend.

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Financial industry slammed for outdated risk management

A new paper from the Actuaries Institute has warned that financial institutions are applying ineffective and outdated risk management strategies.

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Government announces new financial literacy board appointees

The Minister for Revenue and Financial Services, Kelly O’Dwyer, has announced the appointment of new members to the Australian Government Financial Literacy Board.

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