Australia

RBA: Australian Housing Risk has Increased

The Reserve Bank warns lending controls on banks to reduce the heat in Australia’s property market could just drive buyers elsewhere for their loans.  Risky lending into an inflated market has been a consistent worry for the Reserve Bank’s rates strategy, though not enough to deter this month’s rate cut to a record low of …

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Australian Economy Gaining Momentum

The Australian economy is gaining some momentum but growth remains sluggish. The latest Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, rebounded from negative territory to rise 0.45 percentage points to 0.43 per cent in April. Westpac senior Economist Matthew Hassan said the lift …

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Australian Consumer Confidence Jumps on Budget and Rate Cut

The most widely-watched consumer sentiment survey has jumped 6.4 per cent in May following an interest rate cut and the federal budget.  The Westpac-Melbourne Institute index hit 102.4, which indicates that optimists narrowly outnumber pessimists – it is the first positive reading since February.  Consumer sentiment is now running around long run averages. The findings …

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