Business Briefing: rate tracker mortgages
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Rate tracker mortgages could provide some certainty for customers and increase trust in the banking sector.
ANZ has already struck a deal with Apple for its contactless payment system but now four other banks are arguing the company is making competition difficult.
Monica Davey/EPA
The competition in Australia’s contactless payment industry is heating up as Apple Pay sets up in Australia. However some banks claim the company is making the system less competitive.
Australian Treasurer Scott Morrison says interest rate cuts are a ‘matter for the RBA,’ but he doesn’t want them to fall any lower.
Lukas Coch/AAP
While Australia faces its greatest economic challenges in a generation, we are still waiting for the greatest economic reformers in a generation to arrive.
The World Economic Outlook from the IMF released this week downgraded growth for many countries.
Shawn Thew/AAP
Interest rates remain unchanged in Australia this week, reflecting an economic holding pattern around the world, as the US presidential election carries on.
The RBA leaves rates on hold, Australia gets a GDP growth spurt from pre-election spending, and the IMF lays the groundwork for a lowering of global growth expectations.
New RBA changes could mean SME’s can’t rely on commercial credit cards to pay suppliers and wait out long payment terms with big business.
JOERG CARSTENSEN/AAP
If the RBA includes commercial credit cards in new caps on interchange fees, small to medium enterprises might not be able to use them as a source of finance.
Glenn Stevens upheld the independence of the RBA in his time as governor.
Mick Tsikas/AAP
With all the weight of evidence stacked against the banks in the case of BBSW benchmark, surely now is the time for the government to enforce regulation.