The federal government is in secret talks with the banking sector, which could see a levy imposed on banks with little or no regional presence.
'Stop penalising buyers': Inquiry to suggest it should be easier to get a home loan
First home buyers should be able to borrow more money to get a home loan, according to a federal inquiry into home lending, which is expected to recommend the government ease restrictions on how much banks can lend out.
Photo shows A drone shot of a new housing estate, with houses stretching as far as the eye can seeRBA still unlikely to lower interest rates in 2024 despite inflation at its lowest level in more than three years
Australia's inflation rate remained steady in October, with rising prices for food, alcohol, cigarettes and recreational activities keeping it at 2.1 per cent annually.
Photo shows Household money picASX rises as inflation rate stays steady, RBNZ cuts interest rates — as it happened
Australia's annual inflation rate remained steady in October at a more than three-year low as electricity and fuel prices fell. The local share market rose after a rally on Wall Street. Follow how the day's trade unfolded on the markets blog.
Photo shows A blurred photo of the share trading boards at the Australian stock exchangeASX 200 and Bitcoin price climb to fresh records, WiseTech Global shares slump — as it happened
Local shares have ended the week on a positive note, while Bitcoin continued to close in on $US100,000. Coles executives were grilled on supplier deals and WiseTech shares fell after its annual meeting. Look back on how it unfolded on the markets blog.
Photo shows A stock market board shows prices going upMineral Resources fronts angry investors after tax scandal, ASX closes lower after Bitcoin hits record high — as it happened
The ASX closed lower on Thursday after Bitcoin set a new record high. Shares in Mineral Resources also sank as the company faced investor revolt after a tax scandal. Coles is facing the ACCC's supermarket inquiry as hundreds of Woolworths warehouse workers went on strike.
Photo shows A portrait of Mineral Resources managing director Chris EllisonHousing affordability deteriorates further, ASX retreats from record high — as it happened
The typical household faces spending half their income to service a new home loan, according to research from ANZ and CoreLogic, while the Australian share market ended lower.
Photo shows A bird's eye view of unit blocks and apartments with the ocean in the background on a sunny day.NAB sued by ASIC for failures in financial hardship claims
The corporate regulator alleges NAB did not respond to 345 hardship applications within the legal time frame. NAB has apologised and says it's changed its approach.
Photo shows NAB bank signage in red, black and white coloursASX closes higher, while another economist pushes back rate cut expectations to May — as it happened
The Australian share market closed higher on Friday. Corporate regulator warns of further action against the $4 trillion superannuation industry. Catch up on the day's events as they happened on the ABC News markets blog.
Photo shows Two women look at a share price board outside the ASX in Sydney.Wages growth slows, CBA logs flat first-quarter profit, ASX falls — as it happened
Wages growth has slowed to 3.5 per cent over the past year, but continues to outpace inflation. Meanwhile, a fall on Wall Street has sent Australian stocks sharply lower. Look back at the day's events.
Photo shows The exterior of a Commonwealth Bank branchm including the brand's logos.Rex given $80m bailout, while ACCC warned Qantas controls 65pc of market and prices are up, ASX loses ground — as it happened
Qantas defended itself from allegations of "slot hoarding" at a heated Senate inquiry, while the federal government gave regional airline Rex an $80 million lifeline as its voluntary administration is extended. Catch up on the day's events and insights live on ABC's markets blog.
Photo shows A Regional Express (REX) aircraft unloads at Charleville Airport in south-west Queensland.Government says it's in 'final stages of negotiations' with ANZ to maintain bank's Pacific presence
The federal government is about to strike a sweeping new agreement with ANZ to ensure it does not join the exodus of banks from the Pacific.
Photo shows The exterior of an ANZ Bank branch.US election results push global markets higher as bitcoin climbs to new record — as it happened
Bitcoin pushed to a new record high as investors digest US election results while 'Trump trades' push global markets higher and officials from the Treasury, ATO and ACCC faced Senate estimates.
Photo shows A man looks at a share price board outside the ASX in Sydney.Home loans are hard to get. Now some politicians and banks want to change the rules
As the Reserve Bank meets to consider whether to cut interest rates, housing affordability is again centre stage of the political debate. A federal inquiry is considering whether there's a need to ease restrictions on banks about how much they can lend out to first home buyers.
Photo shows A lady outside a melbourne suburban homeHere's when the big four banks reckon interest rates will go down
Even though inflation is within the RBA's ideal range, economists are banking on high interest rates hanging around for a little bit longer.
Photo shows A graphic of a red up arrow next to a percentage sign, overlaid on a street view of a row of houses.ASX has lowest close since mid-September; household spending weaker than expected — as it happened
The Australian market ended lower on Friday, following a sell-off on Wall Street as shares of tech giants Microsoft and Meta fell sharply. Here is how the trading day unfolded on our business blog.
Photo shows A man stands in front of red and green indicator boards.Bank of China is on the verge of gaining a full foothold in the Pacific — and Australia's government is watching closely
The Bank of China is on the brink of establishing a branch in Papua New Guinea's capital Port Moresby, a move that is being watched closely by the Australian government.
Photo shows two men cheers in front of a red backgroundASX closes lower after consumer price rises slow in September quarter — as it happened
The Australian share market closed lower after the inflation rate fell, but markets see slim prospects of an interest rate cut from the Reserve Bank before year-end. Look back on how the day unfolded with our specialist business reporters.
Photo shows Australian currency is seen next to a wages graphASX closes lower, Senate committee into lowering home loan buffer wraps up — as it happened
Australian shares have closed lower after losses on Wall Street overnight over concerns interest rates may stay higher for longer, while a Senate committee looking at the home loan buffer wraps up with equal arguments for and against lowering it.
Photo shows a house for sale in the brisbane suburb of stafford with the sale sign in the front yard'Don't have a machine making final decisions': Warnings as banks ramp up AI push
Australia's big four banks are ramping up their use of artificial intelligence to answer customer calls and assess loan applications. How long before a machine rather than a human writes your home loan?
Photo shows For sale sign outside an apartment building along a street in Brisbane on October 31, 2018.'Bank of mum and dad' becoming a 'really critical factor' affecting how many Australians will retire
A survey finds around three-quarters of retirees with a mortgage owe more than they have in superannuation. More people are facing their retirement years with a home loan and the trend is expected to continue as the age of first home buyers rises.
Photo shows Linda in her garden potting a basil plant an a small outdoor table with pink flowers in the foreground.