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 […]
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 […]
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 […]
The Reserve Bank of Australia’s February Statement on Monetary Policy has shown that the NSW labour market has continued to strengthen despite a volatile economy. The statement, which was released on Friday, noted that employment in NSW was continuing to increase with the jobless rate currently at 4.3 per cent, just above the record low […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
