#commonwealthbank

English – The Conversation | Auction sales are sliding, banks are tightening loans. But is the budget really the only factor? by James Graham, Senior Lecturer in Economics, University of Sydney AI generated summary, Read the full article for complete information. The recent Australian federal budget—introducing reforms to negative gearing and the capital‑gains‑tax discount—has prompted banks to tighten lending to property investors and has coincided with a dip in auction clearance rates, which fell to about 50‑60 % nationally, though this decline was already underway due to higher interest rates and economic uncertainty. While Treasury modelling suggests house‑price growth will be about 2 % slower than otherwise expected, other forecasts range from a modest 1 % fall to a steep correction of up to 10 %, reflecting the market’s pre‑budget softness. Prices remain unaffordable, with median home values more than eight times median household income, and the reforms are likely to affect investors’ preferred small‑apartment segment more than family homes on the suburbs’ edge. Consequently, the market’s recent cooling reflects both the budget’s policy changes and broader macro‑economic pressures, and it would be inaccurate to blame the budget alone for the current slowdown. Read more: https://theconversation.com/auction-sales-are-sliding-banks-are-tightening-loans-but-is-the-budget-really-the-only-factor-283765 #CommonwealthBank #MorganStanley #Treasury #FederalBudget

9News | Banks were quick to pass on rate hikes – just not for savers by 9News AI generated summary, Read the full article for complete information. After the Reserve Bank of Australia lifted the cash‑rate target to 4.35 %, the four major banks quickly announced higher borrowing costs but have been slower to pass the increase on to savers. So far only Westpac has confirmed a rise, offering a 5.75 % ongoing rate on its Spend & Save account for customers aged 18‑34 who meet monthly bonus conditions, while its base rate remains unchanged for others. AMP already provides a “no‑strings‑attached” rate of 5.10 %, and Macquarie will raise its condition‑free account to 5.00 % from 22 May. The Commonwealth Bank, NAB and ANZ say their savings rates are under review and, based on past behaviour, are likely to pass on only part of the hike or impose strict eligibility criteria. Analysts note that after the March increase, bonus‑linked rates rose modestly (about 0.28 pp) while base rates barely moved, and that delaying or limiting pass‑throughs helps the banks protect profit margins—profits that recently hit a collective $43 billion pre‑tax, placing them among Australia’s most lucrative companies. Read more: https://www.9news.com.au/national/major-banks-hold-off-passing-interest-rate-hike-onto-savers/95de7946-5c86-403e-8108-d555dadb5b34 #ReserveBank #Westpac #AMP #MacquarieBank #CommonwealthBank #NAB #ANZ #RioTinto #BHP #national