The Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.10% at its second monetary policy meeting of the year. Read the full statement here. The news was widely expected after the RBA cut rates in February. Following that decision, RBA governor Michele Bullock said the central bank was “waiting for more evidence…

There was a sharp rise in the number of consumers taking out car loans in 2024, as motorists purchased a record number of new vehicles. Australians bought an unprecedented 1,220,607 new vehicles last year, with Toyota, Ford, Mazda, Kia and Mitsubishi being the most popular brands, according to the Federal Chamber of Automotive Industries. As…

Treasurer Jim Chalmers has instructed financial regulators to make it easier for Australians with student debt to take out a mortgage. Currently, the banking regulator, APRA, and the financial services regulator, ASIC, expect lenders to take HELP-HECS debt into account when assessing home loan applications. However, Dr Chalmers said he wanted lenders to be able…

The federal government has announced plans to ban foreign investors from buying established homes and to crack down on illegal land banking, in an effort to cool demand and increase supply. Foreign investors need to apply for approval before purchasing residential real estate in Australia. Under the current rules, they’re generally restricted to buying new…

The Reserve Bank of Australia (RBA) reduced the official interest rate by 25 basis points to 4.10% following today’s monetary policy meeting. The move was widely expected, as annual inflation dropped from 3.6% in the September 2024 quarter to 3.2% in December – bringing it closer to the RBA’s target range of 2-3%. The full…