Financial regulators are set to step into Australia’s red hot real estate market, ANZ warns. The bank’s economics team expect a lending crackdown in the next few months as the Reserve Bank becomes increasingly concerned with lending growth. Speaking this week, RBA Governor Philip Lowe has revealed the five different […]
The Reserve Bank of Australia (RBA) is meeting on Tuesday, and is expected to make a major policy decision. Governor Philip Lowe is due to take the irregular step of speaking at 4 pm, and is anticipated to explain a change in the RBA’s strategy amid Australia’s developing recovery. With […]
Many firms are keen to implement AI in their credit decision-making process, but hurdles still remain to incorporating the tech.
The Commonwealth Bank economics team is now forecasting interest rates to rise as soon as next year, two years earlier than the RBA. Australia’s central bank has repeatedly stated the official cash rate will remain at 0.10% until 2024 “at the earliest” as it tries to give unprecedented forward guidance. […]
Australian regulators have revealed they are mulling a possible lending intervention, as household debt mounts. As property prices soar, the RBA has raised major concerns, indicating it is considering what steps it may take next if credit growth doesn’t slow. It follows similar moves overseas after New Zealand’s central bank […]
Australia’s $8.1 trillion property market demands a Royal Commission and subsequent intervention, a new research paper claims. A special report compiled by UNSW found that soaring prices present a “triple crisis” to the Australian economy that risks worsening inequality, undermining growth and threatening stability. Almost 90 experts weighed in on […]
The value of new home loan commitments shot to a record high of $30.2 billion in March, the Australian Bureau of Statistics reports. Investor lending spiked 12.8% over the month to $7.8 billion, as Australia’s housing market continued its jaw-dropping run. Loan commitments for housing construction fell 14.5%, as the […]
The Australian economy appears to have undergone an “impressive recovery” after hundreds of thousands of loan deferrals were finalised. New figures released by the Australian Banking Association (ABA) shows less than 5,000 loan deferrals remain outstanding across Australian businesses and households. With the figures timestamped to before the end of […]
The RBA has shed a more light on its view of the property market, revealing it is keeping a close eye on emerging risks. As asset prices rise on the back of low interest rates, the central bank says home buyers are taking on additional risk as they bank on […]
The Treasurer is meeting with the heads of 15 Australian banks in Canberra on Wednesday as key support measures are withdrawn. The remaining $10 billion worth of loan deferrals are due to expire at the end of the month along with the federal government’s JobKeeper wage subsidy. “Wednesday’s meeting is […]
The Reserve Bank of Australia (RBA) has revealed it is keeping a close eye on Australia’s property markets as prices rise and lending soars to new records. While it “concluded that there were greater benefits for financial stability from a stronger economy”, forecasted growth could compel intervention in the market. […]
Sydney, the country’s most expensive property market, has set new property price records, according to new CoreLogic data. The median house now sells for over $1.06 million while the median dwelling price has hit almost $900,000. It follows a 5.7% surge since October, with head of research Tim Lawless noting […]
Digital bank Judo has almost doubled the size of its loan book during the pandemic, as it nears $3 billion worth of lending. Releasing an update, the lender said it was filling in the ‘scandalous’ gap left by the major banks which had rejected more than a quarter of loan […]
Greensill's German banking subsidiary is now under direct oversight of the country's financial watchdog, BaFin.
Greensill has appointed Grant Thornton to guide it through possible restructuring, and could file for insolvency within days, WSJ said.
The Reserve Bank of Australia (RBA) has said it expects it won’t raise the official cash rate for at least three years. However, as home lending breaks records each and every month, and property prices surge, there are reasons why record low interest rates may not be sustainable for that […]
Australia’s property prices rose 2.1% in February, marking their strongest national growth in 17 years according to CoreLogic. It comes as every state and territory market rises simultaneously, on the back of record low interest rates and a ‘fear of missing out’. “The last time we saw a sustained period […]