Latest News for: Australia banking

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Australia’s four biggest banks fully pass on central bank rate hike

FX Empire 09 Feb 2023
(Reuters) – Commonwealth Bank of Australia and Westpac Banking Corp followed their two main rivals on Thursday in saying they would fully pass on to customers the 0.25 percentage point interest rate rise implemented by the central bank on Tuesday. Like National Australia Bank and ...
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Why banks are shutting down hundreds branches across Australia - impacting thousands of customers

The Daily Mail 09 Feb 2023
A mining town in South Australia is set to lose its last bank branch - forcing residents to travel hundreds of kilometres away ... 'In Coober Pedy, our team is working to assist customers with the transition, including co-ordinating with the team at Australia Post to help familiarise customers with Bank@Post services.
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Urgent warning is issued to Aussies with cash in one of the 'Big Four' banks ...

The Daily Mail 09 Feb 2023
The Reserve Bank of Australia's ninth consecutive monthly rate rise has this week taken the cash rate to a new 10-year high of 3.35 per cent ... A Canstar analysis showed that since April, 2022, a month before the RBA increased rates, Australia's banks had only increased their basic account rates by an average of 1.83 percentage points.
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Farming in Australia Set for Another Strong Year After Rains

Irish Independent 09 Feb 2023
In addition, Australia's crop will be lower year on year, it said.Global supplies of canola have improved significantly, with ending stockpiles in Canada, Europe and Australia likely to be more than 70% higher than a year earlier by the middle of 2023, easing a global oilseed crunch, the bank said.
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A New Reality (NAB - National Australia Bank Ltd)

Public Technologies 09 Feb 2023
). Solving the problem ... Grub Lab ... Using the latest Augmented Reality (AR) technology, Grub Lab developed a platform that transforms traditional coloring-in activity packs into fun and interactive 3D experiences available in pubs, clubs and restaurants across Australia ... Backing Innovators ... Disclaimer. NAB - National Australia Bank Ltd ... (noodl. 110245283) .
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The little known lending rule that could be a ticking time bomb for struggling borrowers ...

The Daily Mail 09 Feb 2023
The Reserve Bank estimates 800,000 ultra-low fixed rate home loans are due to expire in 2023 ... Why bank lending rules are a challenge ... The 7.18 per cent 'revert' rate is default variable rate based on Reserve Bank of Australia cash rate of 3.85 per cent by May 2023, as Westpac and ANZ are predicting.
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Anthony Albanese is called out by politician for failing to deliver on cheaper mortgages for ...

The Daily Mail 09 Feb 2023
Instead, the Reserve Bank of Australia controls it, which is made up of a board of directors, who are accountable to the government for their actions ... Reflects Reserve Bank of Australia cash rate rising to 3.35 per cent, up from 0.1 per cent, for a borrower with a 20 per cent deposit and a 30-year loan.
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Hang Seng Index, ASX200, Nikkei 225: Hang Seng Bucks a Bearish Trend

FX Empire 09 Feb 2023
This morning, bank stocks were on the decline. Commonwealth Bank of Australia (CBA) was down 0.45%, with Westpac Banking Corp (WBC) falling by 0.29%. ANZ Group (ANZ) and National Australia Bank (NAB) saw modest losses of 0.16% and 0.09%, respectively ... Tencent Holdings Ltd (HK.0700) was up 0.58%, with bank stocks also finding support.
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‘Tightrope’: Staggering chance of recession

The Daily Telegraph Australia 09 Feb 2023
The chance of Australia plunging into recession has risen as high as 70 per cent, according to some economists, on the back of the Reserve Bank of Australia’s aggressive rate hikes which at this stage have no end in sight ....
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Police beat 2/9/23

Log Cabin Democrat 09 Feb 2023
The caller told police that shortly after he purchased his fuel, he was contacted by his bank to verify various charges that were made to his ... The bank told him that these charges were made in Texas, California, Chicago and Australia.
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‘Very important’ to have ‘independent’ Reserve Bank

The Daily Telegraph Australia 09 Feb 2023
Independent MP Allegra Spender says it is “very important” to have an independent Reserve Bank. “And an independent fiscal policy,” she told Sky News Australia ....

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