Tougher lending standards could push rates higher
11 Oct 2015
Mortgage holders have been warned they could face unexpected interest rate rises within months in a development that would hurt the national economy. Analysts believe a tightening of lending standards across the banking sector could translate into up to a half percentage point lift in mortgage rates or the banks failing to pass on in […]
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Housing downturn bigger risk to Australia than Chinese hard landing: economist
09 Oct 2015
The Australian economist for a leading global investment bank has warned that the nation’s over-inflated housing market poses a bigger risk of recession than a Chinese economic crash. Speaking at a media briefing on Australia’s economic outlook, Bank of America Merrill Lynch chief economist Alex Joiner said recent property price rises have defied economic logic. […]
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Reserve Bank leaves interest rate unchanged at 2 per cent
08 Oct 2015
The Reserve Bank has left the official cash rate on hold at 2 per cent, in line with predictions. In the statement accompanying the decision, Reserve Bank governor Glenn Stevens said the economy continues to grow “below longer-term averages” and so “monetary policy needs to be accommodative”. Overall, however, very little changed in the statement. […]
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Leaders to talk reform with Turnbull
01 Oct 2015
Business, union and community leaders will head to Malcolm Turnbull’s mini-summit with a lengthy wish list. But the scheduled three-hour meeting with the prime minister on Thursday is unlikely to be long enough to discuss their wants in full. Even so, Australian Chamber of Commerce and Industry boss Kate Carnell told AAP it is a […]
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