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May rate cut on the cards
- April 10, 2012
- Posted by: admin
- Category: Australian Dollar, Enconomy, Financial goals, House prices, Inflation, Interest rate, Wealth
No CommentsPressure is mounting on the Reserve Bank of Australia (RBA) to cut the cash rate in May after unexpected hurdles slow the nation’s growth. The increasing cost of living may spark the RBA to drop rates, with average petrol prices over the long-weekend over $1.50 according to the Australian Institute of Petroleum. The latest RP
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Banks may raise 0.15pc above RBA
- July 26, 2010
- Posted by: admin
- Category: Finance News
Making headlines today, The Australian Financial Reviewhas reported that Australia’s major banks will be forced to surrender $700 million in profits unless they raise their interest rates above those of the RBA. According to the paper, analysis by Morgan Stanley show the combined profits of the big four would be $700 million lower in 2011 if
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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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RBA calls for reliable CPI
- March 18, 2010
- Posted by: admin
- Category: Finance News
The Reserve Bank of Australia is calling for an overhaul of the nation’s key inflation measure as concerns mount that delayed readings could distort monetary policy. According to a report in The Australian Financial Review, the Reserve Bank wants the Australian Bureau of Statistics (ABS) to release its Consumer Price Index (CPI) results on a
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Government buys $3.4b RMBS
- January 29, 2010
- Posted by: admin
- Category: Finance News
The federal government announced yesterday that it would provide five home lenders with a pipeline of funding to support the issuance of securities until December 2010. According to a report in The Australian Financial Review, the government has directed the Australian Office of Financial Management (AOFM) to purchase $3.4 billion of mortgage-backed securities. Liberty Financial,
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Westpac increases fixed rates
- January 13, 2010
- Posted by: admin
- Category: Finance News
Westpac has confirmed yesterday that it will lift interest repayments on its fixed rate mortgages by as much as 0.25 per cent. Westpac senior media relations manager Jane Counsel told Mortgage Business that higher funding costs and market rate movement had forced the bank to lift its rates. “We are moving in line with the
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Banks warn of higher funding costs
- January 12, 2010
- Posted by: admin
- Category: Finance News
New regulatory requirements and intensifying competition may drive up funding costs for the big banks in the year ahead. Treasurers of the big four told The Australian Financial Review that while pricing in global markets had eased, the banks still faced challenges in meeting an estimated $140 billion of funding requirements. Under the new regulations