Latest News for: Australia banking


Insurance climate plan ‘needs rejig’ after exits

The Times/The Sunday Times 27 May 2023
Climate change campaigners said the alliance, championed by Mark Carney, the former Bank of England governor, was “disintegrating before our eyes” as the Australia-based QBE became the latest insurer to desert it ... Related articles. ENVIRONMENT ... Adam Vaughan ... , Banking Editor ... .

Binance to halt Bitcoin spot trading with Australian Dollar

Cryptoslate 26 May 2023
Binance facing regulatory heat in Australia. This drawback is coming when Binance’s operation in Australia faces much regulatory scrutiny ... On the same day, Australia’s oldest bank, Westpac, banned crypto transactions to unnamed exchanges.

Australia retail sales flat in April as consumers cut back on food, dining out

Reuters 26 May 2023
The slowdown in consumer spending is evidence that a whopping 375 basis-point tightening by the Reserve Bank of Australia since May is having the desired effect of cooling demand ... But the data is encouraging and is directionally moving the right way," said Gareth Aird, head of Australian economics at Commonwealth Bank of Australia.

Australian Retail Sales Unchanged In April

Market Watch 26 May 2023
Consumers are feeling the sting of soaring mortgage repayments after the Reserve Bank of Australia raised the official cash rate at a record pace over the last year to tame the highest inflation outcomes in over three decades ... NYC banking commission votes to halt city deposits at Capital One, KeyBank.

Central bankers face a balance sheet reckoning

Reuters 26 May 2023
LONDON, May 26 (Reuters Breakingviews) - Central banks’ balance sheets have exploded in size since 2008 ... That’s not a problem, we’re told, since central banks are not bound by ordinary accounting rules ... A number of other central banks from Australia to Sweden are in the red. Central bank accounts are the stuff of headaches.

AUDUSD Forecast – Australian Dollar Bounces Into the Weekend

FX Empire 26 May 2023
We do have a central bank decision in Australia in a couple of weeks, so that could give us a bit of clarity on monetary policy direction, but at this point it seems like fear is starting to grip the markets more than anything else.

Glaring ‘hypocrisy’ in bank’s WFH crackdown

The Daily Telegraph Australia 26 May 2023
Commonwealth Bank of Australia is being accused of “hypocrisy” after ordering staff back to the office, stressing the importance of face-to-face interactions — even as it closes branches and forces customers online ....

Aussies erupt at bankers complaining about WFH after staff revolted over CEO calling all 49,000 ...

The Daily Mail 26 May 2023
Australians have unleashed on Commonwealth Bank workers who reacted furiously to the company telling them they needed to return to the office ... The Commonwealth Bank told Daily Mail Australia on Wednesday that they were simply providing a 'framework' for staff to get back to the office.

Dollar eyes third weekly gain on higher US rate expectations

The Times of India 26 May 2023
"Recent moves in currencies have been mainly driven by a sharp repricing of FOMC policy," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA) ... The central bank had raised rates by 25 bps at the policy meeting to the highest in more than 14 years at 5.5%.

Dollar eyes third weekly gain as higher US rate expectations gather steam

Reuters 26 May 2023
"Recent moves in currencies have been mainly driven by a sharp repricing of FOMC policy," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA) ... China's yuan rebounded from a near six-month low against the dollar as some major state-owned banks sold the U.S.

Tokyo stocks open higher on US tech gains

The Manila Times 26 May 2023
TOKYO. Tokyo stocks opened higher on Friday, helped by a surge in US tech shares and a cheap yen against the dollar ... "US yields were higher as markets firmed expectations that the Fed (Federal Reserve) is not yet at a peak even, as a pause is very live for June," National Australia Bank economist Taylor Nugent said ... ....

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In this handout photo made available by the State Emergency Service of Ukraine, firefighters hose down a Policlinic following a Russian attack in Dnipro, Ukraine, Friday May 26, 2023.
AP / State Emergency Service of Ukraine via AP
Condensation trails left by airplanes are seen over the St. Peter's Basilica at the Vatican, Friday, May 26, 2023.
AP / Gregorio Borgia