News

Reserve Bank governor Philip Lowe has offered an unprecedented apology to Australians who took out home loans based on the central bank’s failed guidance that interest rates were unlikely to rise until 2024.

Final Parliamentary week looms | 2022 SME Lending rose to $142B | FDV initiatives | Movember |

Major global banks central bank rates, as at 25 November, 2022.

Donate before 30 November.

The fines were used as a bargaining chip by the Greens.

Micro businesses grew 10% to 1.55 million in the year to June 2022.

The tour of Rochester and Echuca was set up to share the support available by banks and encourage customers affected to contact their bank.

“Higher rates necessary”

Without a strong nominal anchor, expectations of inflation will adjust when inflation is away from the target range, making it harder to return to target.

“Don’t wait until after the abuse has happened. Make the change to make it much harder and to make it really clear to perpetrators you’re not allowed to do this”

“big money managers… are betting that an economic downturn riddled with still-hot price pressures will define trading next year”

A Treasury report on the sector said BNPL transactions accounted for about 2 per cent of all card purchases in the past financial year, worth about $16 billion.