News

Canadian central banker Carolyn Wilkins, Australian National University economics professor Renee Fry-McKibbin and former senior Treasury official Gordon de Brouwer will jointly conduct the first independent review of the bank since its arrangements were instituted in the early 1990s.

I would… like to… highlight two… issues that are important to the Bank. The first of these is the need to lift productivity growth in Australia. And the second is the changing nature of money in our society.

Where climate risk sits in the overall strategic framework

The RBA minutes of its 5 July 2022 monetary policy meeting, where it raised the cash rate target to 1.35%.

” While households have high levels of debt, this is accompanied by sizeable holdings of assets.”
“Higher income households can typically devote a higher share of their incomes to debt servicing because their other living expenses tend to account for a smaller share of their income. This suggests that a large number of households are likely to be able to handle somewhat higher interest rates.”

One in nine Australians have been victims of personal fraud, with card fraud the most common type due to more people banking and shopping online because of COVID-19.

Switzerland and Japan are still at negative interest rates. Europe continues with zero interest rates, despite countries like Spain (10.2%), Italy (8%) and Germany (7.6%) showing high inflation. Argentina has an interest rate at 52%, inflation at 62%.

Nature-related risk and opportunity analysis; using the LEAP approach.

As the greenback strengthens to record highs, it raises prices across world markets (mostly in $USD), which in turn strengthens the dollar.

Neww scams rules for telcos; ABA scams campaign kicks off; unemployment now 3.5%; flood assistance; jobs summit gets a date.

The “Australian Banks: Working to Protect You” PayID campaign encourages customers to use PayID,

An increasing number of homebuyers refusing to pay mortgages on unfinished homes, as fears grow over a potential spillover into the wider financial sector