Tag: banks
-
ANZ raises interest rates for investors
ANZ has become the latest of the big banks to raise its variable interest rates since the US Federal Reserve raised its rates last week. The bank has raised the interest rate for investors by 0.25 basis points from 5.60% to 5.85% per annum, effective from March 31st. ANZ is also raising it variable rate for its interest…
-
NAB interest rate rise is causing outrage
The National Australia Bank (NAB) is receiving heavy criticism for its decision to raise its interest rates yesterday, just hours after the US Federal Reserve raised its interest rates. The NAB raised its residential investment home loan variable rate by 25 basis points from 5.55% to 5.8% per annum. They also raised their standard variable rate for owner-occupiers…
-
Australian trade surplus falls by two-thirds
Australia’s trade surplus has fallen to $1.3bn for January 2017, a drop of almost two-thirds from December 2016’s significant $3.3bn surplus. This surprising decline defied the expectations of many market experts, who had predicted further growth in the surplus following the record-breaking surplus recorded for December 2016. However, economists have been quick to address the situation, stating…
-
CommBank chief first to face Parliament over banking scandals
Executives of Australia’s big four banks will each be questioned individually for three hours in Parliament by a cross-party group of 10 MPs from the House of Representative Standing Committee of Economics this week, ahead of a year filled with scandals and controversies within the banking industry. Facing the Parliament today will be Commonwealth Bank chief Ian…