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“Australian banks’ resilience has been supported by a long period of prudent lending standards, the high quality and quantity of capital, and large liquid asset buffers. Banks have steadily increased their capital over the past decade – largely through retained earnings – to be well above regulatory requirements. Despite some borrowers experiencing severe financial stress, overall asset quality has remained high and loan losses have been minimal.”

“We know the foundations of future success start with more competitiveness, and a more productive economy. That’s why we’re reforming the payments system, our financial market infrastructure, approvals processes, our foreign investment framework and more.”

We’re not immune from global economic factors. We’re not immune from decisions about tariffs, nor are we immune from what has happened with global energy prices.

“We have not pre-committed to any particular course of action on interest rates. But in the forecasts published this week, the central projection suggests that if monetary policy is eased too quickly or by too much, disinflation could stall and inflation would settle above the midpoint of the target range.”

“Scam losses are down by 33 per cent, however there is still more work to be done to drive them down even further. We now have the legislative foundation to stay one step ahead of scammers and drive them out of Australia.”

“Across the sector, Australia’s banks are playing a leadership role in building the digital economy, tackling scams and financial fraud, supporting customers experiencing vulnerability and financial stress, including those experiencing domestic violence and elder abuse.”

“And I see my job as really 3 things: getting inflation down, getting wages up, keeping unemployment low. Australians collectively can be proud of the fact that we have been able to do all 3 of those things.”

“By embedding user safety into the core design of banking products, we can prevent perpetrators from exploiting financial systems to control or abuse others.”

“At the moment, there’s no clear obligations on either the banks, the telecommunications companies or the social media platforms. And all of these businesses have got a key role in that scam production chain.”

“Australians are actually interacting with their bank more than ever before, thanks to the ease and convenience of digital banking.  This is further evidenced by payments by mobile wallets now outstripping total ATM cash withdrawals.” 

“The TFF met the objectives we set out for it at the start of the pandemic. It helped prevent dire economic outcomes at a time when the outlook was bleak and highly uncertain…” 

“Our relationship with China is full of complexity and it’s full of opportunity. We recognise that a more stable economic relationship between Australia and China is a good thing for Australian workers and businesses, investors and “The Government is extending the RLO exemption, allowing small businesses to continue to have access to the credit they need, when they need it. Whether it be to hire more staff or upgrade facilities, the Albanese Government will always back small business owners to grow their companies which power the national economy.”