The current historically low-interest rate has increased the risk of a looming “sharp correction,” the Reserve Bank of Australia (RBA) warned. In her keynote address, Marion Kohler, the head of the domestic markets department at the RBA, told the Australian Securitisation Forum that the central bank was keeping an eye on security markets. “One area…
Australian Reserve Bank Warns of ‘Sharp Correction’ in Financial Markets
November 23, 2021
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Cryptocurrencies ‘Not a Fad,’ Says Federal Minister
The Minister for the Digital Economy, Jane Hume, has said that cryptocurrencies are “not a fad.” In a speech on Monday at the AFR Super and Wealth Summit, Hume stated that with 17 percent of Australians investing in cryptocurrency, it is “an asset class that has captured hearts and minds” of Australians. “Whatever you might…
Australian House Prices to Fall 10 Percent in 2023 After Interest Rate Rise: Commonwealth Bank
November 21, 2021
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The Commonwealth Bank of Australia (CBA) expects house prices to fall by around 10 percent in 2023 after the official interest rate lifts. Gareth Aird, the head of Australian economics at CBA said a further tightening of macro-prudential policy looks unlikely, and the housing market will see moderate growth over the first half of 2022….
Australians Sleepwalking Into a Financial Disaster: Expert
November 15, 2021
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A survey commissioned by the Financial Brokers Association of Australia (FBAA) revealed that three-quarters of Australians believe that a one percentage point rise in interest rates would put pressure on their financial situation. “Many Australians are clearly on the brink and are sleepwalking into disaster, living in the false hope that rates will stay this…
Australian Cash Rate Maintained for 12th Month, Bond Yield Target Discontinued
November 2, 2021
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The Reserve Bank of Australia has retained the cash rate at 0.1 percent for the 12th month after its monthly board meeting, despite mounting inflation and rate hikes by the big four banks. The bank has frequently stated that the cash rate will not be raised until inflation is sustainably between 2 to 3 percent,…
Inflation in Australia up 3 Percent on the Back of Fuel and Housing Price Rises
October 27, 2021
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The Australian Bureau of Statistics (ABS) revealed that the consumer price index (CPI) rose 0.8 percent in the September quarter, in line with economists’ expectations, and 3 percent annually. The quarterly increase was driven by the rising fuel costs (7.1 percent) and housing construction (3.3 percent). “Construction input costs such as timber increased due to…
Despite Jump in Australian Petrol Prices, Outlook on Inflation Remains Subdued
Despite an alarming jump in Australian petrol prices in the last couple of weeks to new peaks, the Reserve Bank of Australia (RBA) said they are focused on the medium to long-term in regards to inflation. The latest ANZ-Roy Morgan Consumer Confidence and inflation expectations saw inflation expectations jump 0.3 percentage points to 5 percent,…
Australians Can Look Forward to a ‘Bright Summer’ as Economy Strengthens: Frydenberg
Australian Treasurer Josh Frydenberg said Australians could look forward to a “bright summer” as COVID-19 restrictions ease across the states and the economy recovers. Frydenberg told parliament during question time that the federal government had already spent $17 billion to support the households and businesses during the pandemic. “This has helped support households and businesses…
Climate Considered a “First-Order Risk” in the Financial System: Expert
Guy Debelle, Deputy Governor of the independent Reserve Bank has said that the climate is now considered a first-order risk to the Australian finance sector at CFA Australia Investment Conference on Oct 14. “Most Australian financial institutions now recognise climate as a risk,” he told the conference. He also added that in recent years in…
Climate Change Considered a ‘First-Order Risk’ in Financial System: Expert
Guy Debelle, deputy governor of the Reserve Bank of Australia has said that the climate is now considered a “first-order risk” to the Australian finance sector at CFA Australia Investment Conference on Oct 14. “Most Australian financial institutions now recognise climate as a risk,” he told the conference. He also added that in recent years…
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