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  • Retail sales show minor recovery
    Following a fall in December, retail sales recovered in January, notes the Australian Bureau of Statistics.   Sales rose by 0.3% in January, which met with market expectations.   Australian retail has struggled in recent ...
    Wed 29th Feb, 2012
  • American Express forced to reverse interest rate penalties on credit cards
    Australian credit regulator ASIC has forced American Express to reverse their penalty interest charges on customers with overdue payments.   Amex, famed for their expansive reward credit card programmes, had been penalising ...
    Mon 27th Feb, 2012
  • Changing bank accounts becoming easier
    Many Australians are concerned about switching their bank accounts, but it’s not as difficult a process as it may seem.   The change can be a fairly simple process, says Steven Munchenberg, the Australian Bankers’ ...
    Mon 20th Feb, 2012
  • CommBank reveals huge half-year profits
    Commonwealth Bank is risking a backlash by revealing huge profits just days after a raise in home loan rates that will extort an extra $240 from the average homeowner each year.   After posting record profits last year, ...
    Wed 15th Feb, 2012
  • Commonwealth Bank conciliates by raising term-deposits
    Major banks have continued to follow the trend set by ANZ and Westpac by raising mortgage rates in the absence of any interest rate cut by the Reserve Bank last week.   Commonwealth Bank has said that it would raise its ...
    Mon 13th Feb, 2012 (1 Comment)
  • Australian Banks regaining profit margins on mortgages
    Major banks are finding their ways to keep mortgage rates above the RBA’s interest cycle and regain their margins as funding costs increase.   While major banks passed on the two interest rate cuts in November and ...
    Fri 10th Feb, 2012
  • Save emergency cash, say financial advisors
    Consumers are being advised to set cash aside in case of unexpected redundancies.   Some sections of the economy are still under threat from potential job-losses. The retail industry continues to suffer from poor high ...
    Wed 8th Feb, 2012
  • Surprise as Federal Bank leaves interest rates unchanged
    There was a note of surprise as the board of the Reserve Bank decided to leave interest rates unchanged at 4.25% during their first meeting of 2012.   Reserve Bank Governor Glenn Stevens referred to progress in Europe, ...
    Tue 7th Feb, 2012
  • Online scam leaves would-be renters high and dry
    An online scam has conned potential tenants desperate to rent a property out of $40,000 in 2011.   Scammers are posing as landlords on popular informal property listing sites to offer prime properties for a knockdown rental ...
    Fri 3rd Feb, 2012
  • Fix term-deposit rates before banks cut them in advance
    The markets believe that banks are set to move pre-emptively and sever savings rates ahead of another predicted cut in federal interest rates when the Reserve Bank meets next week.   Savers may be running out of time to ...
    Thu 2nd Feb, 2012
  • Australian banks brace themselves for stand-off
    Australian banks are bracing themselves for an uncomfortable stand-off should interest rates be lowered again by the Reserve Bank on 7th February.   The reluctance of big banks to pass on the December interest rate cut ...
    Wed 1st Feb, 2012

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