#Rba
RBA holds rates at 4.35%, but SMEs are still footing the bill
The RBA held the cash rate today, but as consumer finance expert Joel Gibson explains, household budgets are still under real pressure.
‘Employers may need to work harder to attract talent’: Hays APAC CEO on RBA hold
Rates are on hold but inflation is still too high and the RBA says more hikes remain on the table.
Tight jobs market pushes RBA closer to February interest rate hike
CreditorWatch's Ivan Colhoun weighs in on whether the RBA will raise rates in early February.
RBA faces rate dilemma as household spending jumps 1.0% in strongest result for 10 months
A stronger-than-expected retail result for November has heightened RBA rate hike risks, with economists warning the February board meeting could deliver an increase
Consumers keep wallets closed but RBA making inroads on inflation
Anneke Thompson, Chief Economist at CreditorWatch, offers insights into Australia’s economy, covering key aspects such as retail trade, employment, inflation, and business and consumer sentiment.
Interest rates expected to rise again today
The RBA is expected to increase the cash rate today, adding to already mounting pressure on Australian households and businesses.
RBA tipped to raise interest rates today
The Reserve Bank of Australia (RBA) could potentially raise interest rates today for the first time in 11 years.
What happens when the cash rate goes up?
A policy analogy describes the nation as a farm. The RBA is in charge of irrigation on this farm. What happens when they turn the water off?
Unemployment rate drops, defying forecasts
Official ABS figures released today show that the unemployment rate has fallen to 6.8 per cent in August, down from 7.5 per cent in July. This drop contrasts widespread predictions of rising unemployment. Despite stage 4 lockdowns in Melbourne and stage 3 lockdowns across regional Victoria, national employment increased by 111,000 people between July and […]
Stimulus package 2.0: What does the $66 billion package mean?
Yesterday the prime minister Scott Morrison announced a second stimulus package of $66 billion to help the economy survive the impacts of the COVID-19 outbreak. The federal parliament could sit for just one day today to pass the government’s stimulus measures as quickly as possible, before members of parliaments reduce meetings for social distancing purposes. […]
Ideal jobless rate ‘some time away’: RBA
Reserve Bank of Australia board members agreed back-to-back cash rate cuts were necessary to eat into spare labour market capacity, but a high participation rate and an expanding working age population means it will take “some time” to achieve the ideal jobless rate. Minutes from the RBA’s July 2 meeting show members agreed a consecutive […]
ANZ only big bank to fully pass on RBA cut
ANZ has again become the only big four bank to reduce variable mortgage rates in full following the Reserve Bank’s cash rate cut, while rivals CBA, NAB and Westpac will be passing on only part of the amount this time. ANZ was widely criticised last month when it passed on just 0.18 percentage points of […]
RBA cuts again to take cash rate to 1%
The Reserve Bank of Australia has cut the cash rate to a fresh record low of 1.0 per cent, reducing the cost of borrowing for two months in a row for the first time since 2012. The market had largely priced in a second straight 0.25 percentage point cut after RBA Governor Philip Lowe suggested […]
RBA cuts cash rate to new low of 1.25%
The Reserve Bank of Australia has cut the cash rate to a new record low of 1.25 per cent in a widely anticipated attempt to stimulate the economy. It is the central bank’s first move on rates since August 2016 and follows another month of weak economic data, most notably an unexpected rise in the […]
Growth in loans to businesses evaporates
RBA statistics for April recorded the slowest annual growth in credit for mortgages since the data was first collected in the late 1970s. The growth of lending to businesses flatlined in April while personal loans retreated for the seventh month in a row and annual property credit plummeted to unprecedented lows, central bank statistics suggest. The […]
Confidence slips after RBA holds rate: ANZ
Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household […]
Morrison: Interest rate cut up to RBA
Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly […]
RBA announces the cash rate will remain at record low
The Reserve Bank of Australia has announced it will keep the cash rate at the record low of 1.5 per cent. The decision at Tuesday’s March meeting marks Australia’s longest period without a rate change. The RBA’s last cut was in August 2016 and despite economic growth slowing in the second half of 2018, it […]
Parliament urged to quickly pass, implement legislation to help SMEs crowd-source funding
The peak body for Australia’s fintech industry has urged Federal Parliament to prioritise a ‘vital new source of funds’ for SMEs by expediting the approval and implementation of private company equity crowdfunding legislation introduced in September 2017. According to FinTech Australia chair Stuart Stoyan, the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 has […]
Small business interest rates hit record low
RBA data reveals the average interest on small business loans is the lowest it has been since at least 1993, with owners paying $9 billion less than they were six years ago, according to the Australian Bankers’ Association (ABA). Noting that small businesses are a significant driver of the economy, ABA Chief Economist Tony Pearson […]
Speculative demand driving up prices of digital currency but use as a payment remains limited
The use of digital currency for payments “remains relatively limited” while cash will continue to play an important role in society despite it’s declining use, the Reserve Bank of Australia told the House of Representatives Standing Committee on Tax and Revenue. In a statement delivered to the Committee, in relations to its inquiry into Taxpayer Engagement […]
Change afoot for credit card interchange: what the new rates mean for small business
Australians will feel the impact of the upcoming new credit card interchange regulations — we’re a nation of points junkies with 11 million Qantas Frequent Flyers * alone. But while everyone’s thinking about how the reverberations of these changes affect consumers, it’s easy to forget that new interchange rates raise a number of big questions […]
Small retailers urged to trial not surcharging ahead of next year’s ban on excessive fees
In May, this year, the Reserve Bank of Australia released a new surcharging standard, which introduced a ban on excessive surcharges. The ban, which is being enforced by the Australian Competition and Consumer Commission (ACCC), commenced for large retailers this month but all other merchants have until 1 September 2017 to comply with it. Dynamic […]
RBA leaves cash rate unchanged for September
The Reserve Bank of Australia has left the cash rate unchanged at 2 per cent for September. This will be the fourth consecutive month the rate has remained unchanged. RBA Governor, Glen Stevens said “the economy is likely to be operating with a degree of spare capacity for some time yet, with domestic inflationary pressures […]