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Westpac is the latest bank to hike its interest rates, following in the footsteps of ANZ earlier this week.
Read more...The Bank of Queensland has promised its customers that it will not be hiking its interest rates.
Read more...It seems that further cuts to interest rates in early 2012 are a mere formality, as new figures have shown that inflation slowed down towards the end of 2011.
Read more...Interest rates need to be passed on by the major banks to businesses and the Aussie on the street, according to leaders at the Australian Chamber of Commerce and Industry (ACCI).
Read more...Aussie business owners still appear to be wary of the country's major banks, despite the fact that adjustments to interest rates were made at the end of last year.
Read more...The Reserve Bank of Australia (RBA) could cut interest rates further in order to maintain the growth that has seen the Aussie dollar strengthen considerably.
Read more...Further cuts to interest rates are even more likely after new figures showed that levels of unemployment have increased across Australia.
Read more...Economists still believe that interest rates will be cut again next month, despite the fact Aussies appear to be more confident about using credit.
CommSec's chief economist Craig James told the Herald Sun that people were keen to enter the property market in November, which may have been due to the 0.25 per cent rate adjustment.
A second cut of 0.25 per cent was also made in December, but Mr James feels there is still room for further reductions even though the first two changes appear to have had a positive effect.
He said new inflation and employment figures show that interest rates need to be trimmed again when the board of the Reserve Bank of Australia meet in February. ANZ's job advertising index indicated that the number of roles being made available shrunk by 0.9 per cent in December.
"(This) keeps alive the chance of a February rate cut," he was quoted as saying.
Bosses at the SA Council of Social Service (SACOSS) are concerned about the high levels of debt that Aussies are racking up by using payday loans.
The organisation stated that lenders are luring in struggling people with the promise of low interest rates, only to then hike their fees, the Advertiser reports.
Executive director at SACOSS Ross Womersley told the news provider that excessive loan charges and complex repayment calculations have led to many Aussies coming unstuck.
He added that many of the borrowers were already fighting to cope with the increased cost of living and these loans are pushing many further into debt.
"Unfortunately many payday lenders – not all – really do exploit the vulnerability of people with interest rates that are just absurd and unreasonable," he was quoted as saying.
According to figures released last week by the Australian Bureau of Statistics, levels of credit card debt have now surpassed the $50 billion mark – a record-high for the country.
Retailers across Australia believe that recent cuts to interest rates were not big enough to encourage more people to splash their cash.
Chief executive of the Australian National Retailers Association Margy Osmond has called on the Reserve Bank of Australia (RBA) to make another adjustment in February in order to help out the industry, the Australian Associated Press reports.
The RBA cut rates by 0.25 per cent in November and December, but Ms Osmond feels that this has done little to help out struggling storeowners.
Despite the cut, new figures released by the Australian Bureau of Statistics showed that spending levels remained broadly flat in November when compared with October.
"Certainly we would have thought in the past that two interest rates cutes would have been enough to stimulate spending – well maybe it takes three now," Ms Osmond told the news provider.
Aussies may require some persuading before they start to flash their credit cards in high street stores, as a recent ING Direct study indicated that 34 per cent are planning to curb their spending in order to save money in 2012.
The ongoing eurozone crisis may force the Reserve Bank of Australia (RBA) to introduce further interest rate cuts before Christmas, it has been suggested.
Read more...The Reserve Bank of Australia has called on Europe to fast-track its response to the ongoing financial crisis.
Read more...ING Direct has announced that interest rates on its one and two-year fixed home loans have been cut further.
Read more...If the Reserve Bank of Australia (RBA) decides to reduce interest rates further next month, the home building sector in Australia would benefit, an expert has stated.
Read more...The Reserve Bank of Australia's recent rate cut will not kick start the country's ailing property market, which witnessed a decline in value of 1.2 per cent in the third-quarter of this year.
Read more...National Australia Bank (NAB) has claimed that UBank's interest rate for those refinancing their home loans is the lowest available in the country.
Read more...National Australia Bank (NAB) has announced that it will be passing on the recent cash rate reduction by the Reserve Bank of Australia.
Read more...ANZ has announced that it will bring its interest rates in line with the recent change to the cash rate that came into effect today (November 2nd).
Read more...Master Builders Australia (MBA) has asserted that the latest cut to the cash rate will be a welcome decision for the country's home loan customers.
Read more...The Commonwealth Bank of Australia (CBA) has announced that the latest reduction in the cash rate by the Reserve Bank of Australia (RBA) will be passed on to its customers.
Read more...Aussies are increasingly keen to take out home loans with fixed interest rates, according to recent approval data.
Read more...The latest TD Securities-Melbourne Institute inflation gauge rose by 0.1 per cent, which one expert has claimed means the cash rate should be kept at its current level.
Read more...Should the Reserve Bank of Australia (RBA) opt to cut interest rates at its next meeting on Tuesday (November 1st), banks in the country should follow suit, treasurer Wayne Swan has stated.
Read more...The Commonwealth Bank of Australia (CBA) has revealed that since offering to match the advertised interest rates of any of the other three major banks in the country, some 20,000 people have enquired about home loans.
Read more...Aussies considering going online to compare home loans have been advised to consider fixed-rate products if they are concerned about the impact an increase to the cash rate would have on their financial situation.
Read more...If the Reserve Bank of Australia (RBA) decides to reduce interest rates at its next meeting in November, the savings Aussies make could be negated by the rising cost of fuel, it has been suggested.
Read more...Aussies in the market for home loans are keen to find fixed rate mortgage products, according to an expert in the sector.
Read more...Aussies considering taking out a new home loan in the near future may be encouraged by the recent announcement by the Reserve Bank of Australia that interest rates will remain at their current level.
Read more...Heritage Building Society has announced that it has reduced its fixed-rate home loan interest rates to 6.35 per cent.
Read more...Credit Union Australia (CUA) has announced a reduction to the interest charged on its fixed-rate home loans.
Read more...
All the latest news on interest rates in Australia. For regular updates on interest rates
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