Economy

Australia is unlikely to experience a recession in the near future, but certain “vulnerabilities or excesses” in the economy should be addressed to avoid downturns, says AMP Capital.

More than 40 per cent of all Chinese buying inquiries in the year to date have been for Melbourne, making the southern city Australia’s destination of choice.

LMI provider Genworth has had its A3 credit rating downgraded by Moody’s, with the agency citing “high and rising level of tail risks” as the catalyst.

Fractional property investment company DomaCom has announced plans to introduce a new equity release product to the market, provided that it gets the regulator’s tick.

Industry super fund-owned bank ME has reported a 14 per cent increase in underlying net profit after tax to $85.2 million for the 2017 financial year.

Ratings agency Morningstar has described as “exaggerated” a report from UBS which claims that Australian banks hold $500 billion in “liar loans”.

Non-bank lender Pepper has announced today the appointment of a new country CEO for Australia.

The Australian Prudential Regulation Authority has faced heavy scrutiny over lenders potentially using the crackdown on interest-only lending as a cover for back book repricing.  

Demand for fixed rates is at its highest level since December 2013, with nearly one-third of borrowers opting for the repayment type, Mortgage Choice reveals.

Australian lenders remain uncertain about APRA’s interest-only crackdown and are awaiting further clarification on what the regulator is looking to achieve, according to the head of a major ...