Category: ANZ

Cash Rate to Rise Above 3 Percent in 2022: ANZ Bank

ANZ, one of Australia’s big four banks, has predicted the country’s cash rate to soar to over three percent in 2022. In a July 19 report, ANZ expected the Reserve Bank of Australia (RBA) to raise the cash rate by 0.5 percent in August, September, October, and November consecutively, bringing the rate to 3.35 percent…


ANZ to Take Over Suncorp’s Banking Business in $4.9 Billion Deal

Australia’s Suncorp Group has announced that it has accepted a $4.9 billion (US$4.02 billion) deal to take over its banking business from ANZ, one of the big-four lenders in the country. The transaction represents $3.21 per share and is expected to yield net proceeds of $4.1 billion for Suncorp after deducting relevant transaction costs. According…


Three Major Australian Banks Lifted Interest Rates Following Central Bank’s Decision

Three of Australia’s Big Four banks have adjusted their variable home loan rates upward one day after the central bank raised the cash rate for the third time in 2022. On July 6, the Commonwealth Bank of Australia (CBA) was the first bank to pass the rise on in full by lifting the rates of…


Education Union Press for Gender Affirmation Leave at Tasmanian University

The National Tertiary Education Union (NTEU) and the University of Tasmania (UTAS) are “locked in a battle” after UTAS declined to comply with the union’s request to provide up to 30 days’ leave for transgender staff. The university currently offers 10 days of special leave for their staff irrespective of their gender, however, the NTEU…


Australian Consumer Confidence for January Hits 30-year Low

Australian consumer confidence plunged to its lowest January reading since 1992 and the overall lowest since October 2020, according to the ANZ-Roy Morgan consumer confidence index. January typically posts positive consumer confidence results, but it has plummeted 8.1 points to 97.9 during the second week of the month following the emergence of Omicron. Additionally, all states fell…


Australia Starts Off Year With Dampened Consumer Confidence

Australia’s consumer confidence has taken a small hit across the country following the rapid spread of the Omicron variant of COVID-19. The weekly ANZ Roy Morgan consumer confidence rating dropped by 2.4 points for the first week of the year, a week that usually sees a rise. Consumer confidence fell particularly hard in South Australia…


‘Pandemic Is Far From Over’: Australian Treasury Secretary

Australian Treasury secretary Steven Kennedy has warned that the “pandemic is far from over” and the country needs to remain vigilant against the risks associated with the CCP virus. “As we move through 2021, the pandemic is far from over. We have witnessed the consequences and impacts of second and third waves around the world…


Australia’s CBA, ANZ Sued in New Zealand for Missed Loan Interest Refunds

Two of Australia’s “big four” banks are facing a multi-million dollar claim in New Zealand for not refunding more than 150,000 customers the interest and fee charged following an alleged breach in disclosing changes to loan agreements. The class-action lawsuit said Kiwi units of Commonwealth Bank of Australia and Australia and New Zealand Banking Group…