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Majors slam proposed govt reforms
- March 8, 2011
- Posted by: admin
- Category: Enconomy, Government banking reform, Interest rate
No CommentsWestpac’s chief executive Gail Kelly has slammed the government’s proposed ban on exit fees as “poor public policy”. In an interview with The Australian, Ms Kelly said the abolition of exit fees would only make it harder for smaller lenders to compete. Ms Kelly said that while the fee was not “a big matter for us
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CBA sounds warning on global regulation
- April 30, 2010
- Posted by: admin
- Category: Finance News
Unjustly tough banking regulation will lead to higher borrowing costs, according to CBA chief executive Ralph Norris. Speaking at an American Chamber of Commerce lunch yesterday, Mr Norris said while the wrong regulatory regime could cause credit to be restricted and funding costs to rise, Australia was more likely to end up with a measured
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AMP Bank Ltd to lower interest rates on its entry level home loan products after hiking mortgage rates earlier this month…
- March 22, 2010
- Posted by: admin
- Category: Finance News
AMP Bank dropped the interest rate on its basic variable home loan by 22 basis points to 6.27 per cent, and cut the rate on its introductory variable mortgage by 45 basis points to 5.94 per cent. The introductory variable home loan rate applies for only one year and will revert to AMP’s professional pack
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Building approvals on the rise
- February 5, 2010
- Posted by: admin
- Category: Finance News
Despite a flagging NSW market building approvals for Australian houses, units and other dwellings are on the rise, according to the Australian Bureau of Statistics (ABS). The number of dwellings approved in Australia rose 2.2 per cent in the month of December. Tasmania and Victoria recorded the largest surge in building approvals at 21.7 per