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Westpac does a U-turn on cash rate forecast, tips November hike
4+ day, 2+ hour ago (748+ words) Westpac is the latest big bank to change its cash rate forecast, with a hike now expected at the RBA’s November 2-3 meeting. Westpac’s economic team believes the cash rate will peak at 4.60%, with cuts starting in August 2027. The bank noted…...
Australia???s rewards credit cards are changing: How does it impact your card?
6+ day, 5+ hour ago (1546+ words) The RBA’s card surcharge ban (those pesky fees when you go to pay for something with a card) kicks in on 1 October. As part of the overhaul, the RBA is cutting the amount banks can charge at the back-end to…...
Sticky core inflation could push RBA to hike again by Christmas
2+ week, 4+ day ago (1107+ words) Stubborn underlying inflation will keep pressure on the RBA to consider another cash rate hike this year, despite a drop in annual headline inflation in July. ABS figures today show headline CPI came in at 3.5% in the year to July,…...
ANZ the last big bank to take the razor to rewards cards ahead of surcharge ban
2+ week, 4+ day ago (645+ words) ANZ has announced sweeping changes to its rewards credit cards to come into effect from 28 September, three days before the RBA’s surcharge ban kicks in. ANZ has announced changes to all of its credit cards, not just its rewards ones,…...