This week, there's been a mix of big moves and important updates for Aussie consumers. The Commonwealth Bank hit pause on controversial account changes after facing a major backlash over assisted withdrawal fees. Meanwhile, the Reserve Bank is expected to leave the cash rate unchanged as 2024 wraps up.
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Welcome back to Mozo Money Moves, your Friday finance fix covering the latest in pricing changes across the Australian retail banking industry.
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This week, several major banks have made notable moves in the Australian financial landscape, as Westpac revised its forecast on when the Reserve Bank of Australia (RBA) may start cutting interest rates. Meanwhile, ANZ moved to reduce rates on one of its popular variable rate home loans, offering some relief to borrowers. The bank also hit a milestone in the number of depositors for its digital banking platform, ANZ Plus.
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With the end of the year fast approaching, the retail banking landscape is showing no signs of slowing down. This week, NAB cut its variable rates and revised its forecast, while term deposit providers continue to vie for the top spot and Bankwest stopped accepting new personal loan applications. A new green loan offering more options for eco-conscious ING mortgage holders was launched, and Mozo announced the winners of its Energy Awards, including Australia’s Best Green Electricity Provider.
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This week was another big week in personal finance, as the Reserve Bank of Australia (RBA) met for their second last meeting of 2024. Despite a cash rate hold, banks have continued to shift rates, fees and rewards offers on the Mozo database.
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Welcome back to Mozo Money Moves, your weekly finance wrap which dives into the latest pricing changes in the Australian retail banking landscape.
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This week’s bumper edition covers the continuation of cuts to term deposits and home loan fixed rates across the Mozo database, as lenders grow more optimistic about the future of interest rates.
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Welcome back to Mozo Money Moves, your weekly finance fix where we dive into the latest changes in personal finance products. This week CommBank doubled down on its Reserve Bank of Australia rate cut call, the Mozo database tracked more fixed rate home loan cuts, term deposit rates continued to fall, and Macquarie boosted its savings account offer.
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Welcome back to Mozo Money Moves, your weekly finance fix where we dive into the latest changes in personal finance products. This week saw a number of fixed rate changes from the Big Four, including changes to personal loan fixed rates and home loan fixed rates, as well as a continuation of the tumbling term deposit rates we have been tracking on the Mozo database, apart from one bank that decided to hike to steal top spot.
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This week was another bumper week tracking movements in personal finance products, starting with the Mozo Banking Roundup for September 2024 on Monday, which dived into the flurry of cuts across fixed rate home loans and term deposits.
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