Economy

Reserve Bank of Australia governor Glenn Stevens says the Australian financial system needs to be “well prepared” for a sharp increase in the use of China’s currency for trade purposes

The Reserve Bank’s statement on monetary policy for February suggests the cash rate is still not low enough.

Bernie Fraser has announced he will step down as ME Bank chairman after nearly 15 years.

Adelaide Bank has announced a new partnership with a Melbourne-based mortgage manager specialising in property investment.

Bendigo Bank has announced the appointment for a newly-created head of business banking role.

The prudential regulator has consented to Wide Bay Australia Ltd’s transition to a bank.

The central bank’s decision to lower the official cash rate could signal a new downward trend.

The pessimists might have to quieten down for the time being after building approvals reached record levels in 2014.

Treasurer Joe Hockey has urged Australian banks to pass on the RBA rate cut “immediately”.

Improvements in job availability and security were key contributors to household financial comfort reaching its highest level ever, according to a report by ME Bank.