RBA
Credit card points schemes in firing line after tweaks
9 April
Overseas trips and hotel stays funded through credit reward schemes could be in trouble as Australia’s central bank cuts fees on card transactions. The Reserve Bank has revamped card usage by banning surcharge payments and cutting interchange...[Read More]
Vested interest ‘cartel’ killing Aussie housing dream
26 February
A “cartel” of vested interests is stymying crucial tax reforms which could help free up more homes, a former boss of the Reserve Bank says. Bernie Fraser, the only person in Australian history to have served as both RBA governor and Treasury...[Read More]
Aussies tapping more credit as arrears value swells
26 February
Australians have leaned into debt ahead of the central bank’s pivot to hike interest rates, with applications for mortgages and credit cards doubling in the recent quarter. Mortgage credit demand grew 12.3 per cent, while credit card applications...[Read More]
RBA hikes interest rates six months after last cut by 25 basis points, board lifted the cash rate to 3.85 per cent
3 February
The Reserve Bank of Australia has hiked interest rates by 25 basis points, becoming the first major central bank to go from rate cuts to rate hikes following the post-COVID inflation spike. In a unanimous decision on Tuesday, the RBA’s monetary...[Read More]
Jobs and wage data in focus ahead of interest rate call
15 May
Upcoming wages and unemployment data may have significant bearing on the Reserve Bank’s closely watched interest rate decision. Domestic signals have taken somewhat of a back seat since US President Donald Trump’s tariff dump in early April. But...[Read More]
Interest rates kept on hold despite inflation worries – leaving interest rates at 4.35 per cent
7 May
Borrowers have been spared more mortgage pain following the Reserve Bank of Australia’s decision to keep interest rates on hold for the fourth meeting in a row. The board came to its decision on Tuesday after two days reviewing the the state of...[Read More]