Household wealth spikes ahead of COVID-19 drag

Household wealth spikes ahead of COVID-19 drag

Property prices grew over the last quarter of 2019, the latest ABS data reveals, spurring a record-high improvement in household wealth. Total household wealth increased to a record high in the three months to December 2019, rising by 3.1 per cent to $11.3 billion,...
Banks to suspend SME loan repayments

Banks to suspend SME loan repayments

Australia’s lenders will enable small-business customers to defer their loan repayments for six months in response to the economic fallout from the coronavirus outbreak. Following consultation with regulators, the Australian Banking Association (ABA) has announced a...
Coronavirus clouding lending outlook: ANZ

Coronavirus clouding lending outlook: ANZ

The ABS has reported a sharp pick-up in mortgage volumes in January, however, the positive result has been overshadowed by “uncertainty” in the outlook, according to ANZ Research. The Australian Bureau of Statistics (ABS) has released its latest Lending Indicators...
Emergency RBA meeting leads to cash rate cut

Emergency RBA meeting leads to cash rate cut

At its emergency meeting today the Reserve Bank (RBA) announced a cash rate cut of 0.25%, bringing the cash rate to 0.25% the lowest in Australian history! This cut was made in response to the global coronavirus (COVID-19) crisis, which has been declared a pandemic by...