Five per cent mortgage rates coming soon

Standard variable mortgage interest rates could fall to five per cent within six months, taking them to the lowest level since 1964 when they were [...]

POSTED ON December 2, 2008
More big rate cuts on the way

Markets are pricing in a ninety per cent probability that the Reserve bank will cut official interest rates by another full one percentage point in [...]

POSTED ON November 11, 2008
Rates headed down to 3 per cent next year

Markets are pricing in rate cuts to take the official rate to 3.75 per cent over the next six months. Yesterday the Reserve Bank made [...]

POSTED ON November 5, 2008
RBA may cut by 0.75 per cent

Increasing evidence of a recessionary trend in economic data is adding weight to expectations of a big cut in interest rates this afternoon by the [...]

POSTED ON November 4, 2008
Macquarie exits lending markets

Macquarie Bank is selling out of the investment lending market following its decision in March to wind back its mortgage lending business. "The investment lending [...]

POSTED ON September 26, 2008
Margin investors enjoy capital protection

Margin lending tax reduction strategies surrounding the prepayment of loan interest has historically driven the number of margin lending accounts higher in the June quarter, [...]

POSTED ON August 22, 2008
RBA makes rate cuts crystal clear

The minutes of the Reserve bank board meeting from August show that the bank intends to cut rates at its September board meeting. Analysts said [...]

POSTED ON August 20, 2008
Swan tells the banks

Short term debt prices are coming down so banks should be looking to cut their interest rates to borrowers said the Treasurer Wayne Swan yesterday. [...]

POSTED ON August 18, 2008
Banks told to pass on cuts

The deputy governor of the reserve Bank, Ric Battellino, said if banks did not pass on rate cuts to customers, the Reserve would keep cutting [...]

POSTED ON August 15, 2008
Rates to fall to five per cent next year

Interest rates will be cut by the Reserve Bank by half a per cent in September despite stronger than expected jobs data released yesterday, says [...]

POSTED ON August 8, 2008
Banks may not pass on rate cuts

New mortgage sales fell in the first half of 2008 by 25 per cent according to the Australian Bureau of Statistics. CommSec said the figures [...]

POSTED ON August 7, 2008
Banks can lower interest rates

Interest rates could fall by more than the quarter of a per cent the Reserve bank usually moves rates by. The 90 bank bill swap [...]

POSTED ON August 7, 2008
RBA signals end to high interest rates

The Reserve Bank has sent a clear signal that it will lower rates in September. The statement by RBA governor Glenn Stevens, released yesterday, says [...]

POSTED ON August 6, 2008
Next rates move could be down

After 12 official interest rate rises in a row, the governor of the Reserve Bank, Glenn Stevens, has hinted that the next move in official [...]

POSTED ON July 17, 2008
Extra bank margins yet to affect households

The domestic economy is yet to fell the impact of the additional margins banks have imposed on consumer and business loans, over and above the [...]

POSTED ON July 8, 2008
More credit trouble ahead

Banks have still not passed on the full 100 basis point rise in their cost of credit. The smaller lenders will continue to have trouble [...]

POSTED ON July 8, 2008
Surge in margin calls as All Ords falls

CommSec made about 300 margin calls last Thursday and 10 the day before. The broker's daily average is fewer than 30. Last week was a [...]

POSTED ON July 7, 2008
Protected equity lending an endangered species

Protected financing volumes are decreasing due to recent tax deductibility changes, with CommSec saying the product has lost its appeal to investors. The broker only [...]

POSTED ON July 3, 2008
CommSec margin lending near record

Investors seem encouraged the stock market may have bottomed, with CommSec recording a near record month in May for margin loans and margin loan drawings. [...]

POSTED ON July 3, 2008
Bankers say world is at tipping point

Growth will probably slow and inflation will rise according to a statement issued from a meeting of the world's central banks. The Bank of International [...]

POSTED ON July 1, 2008
Super and banking merge into one

More banks are working on plans to launch loan products for superannuation funds, despite continuing uncertainty about the government attitude to a loosening of the [...]

POSTED ON June 26, 2008
Interest rates to remain high

The restrictive monetary policy that Australia has shifted to over the last two years is, if anything, going to get more restrictive said the governor [...]

POSTED ON June 16, 2008
Pressure to lift rates easing

Rising unemployment numbers are easing the pressure on the Reserve Bank to lift interest rates above 7.25 per cent despite rising inflation. Employment levels fell [...]

POSTED ON June 13, 2008
Small loans in regulation net

The federal government's green paper on regulation of financial products has asked for feedback on whether regulation for credit cards, personal loans and payday loans [...]

POSTED ON June 4, 2008
Rates on hold but future uncertain

The Reserve Bank left interest rates unchanged at its meeting yesterday, but governor Glenn Stevens has left open the possibility of further rate rises this [...]

POSTED ON June 4, 2008
Inflation up, spending down

Indicators show that inflation is rising at its fastest rate in five years but economists say there is almost no chance of the Reserve Bank [...]

POSTED ON June 3, 2008
ANZ warns of two rate rises

Economists at the ANZ Bank are now tipping the Reserve Bank will increase rates twice more this year which would take the standard variable rate [...]

POSTED ON May 28, 2008
RBA pushes broking overhaul

Fines for brokers who fail to settle trades on time will be more than doubled with the maximum going from $2,000 to $5,000 in an [...]

POSTED ON May 27, 2008
New fines for late settlement

The Australian Securities Exchange will announce higher penalties for brokers who do not settle sharemarket trades on time. The move seems to be an attempt [...]

POSTED ON May 26, 2008
Sharemarket expected to dive this week

After increasing by an average of 20 per cent in the previous four financial years, the S&P/ASX200 Index looks set to end the 2007-08 financial [...]

POSTED ON May 26, 2008
ASIC runs eye over brokers

The Australian Investments and Securities Commission will ramp up its scrutiny of broking and margin lending firms as it tries to address concerns about market [...]

POSTED ON May 23, 2008
Have we said goodbye to the bears?

While there will be more ups and downs along the way, AMP's chief investment strategist Shane Oliver says that the worst of the sharemarket losses [...]

POSTED ON May 21, 2008
Reserve ponders more rate rises

Further interest rate rises are on the cards as minutes from the Reserve Bank's last board meeting reveals that it remains concerned that it has [...]

POSTED ON May 21, 2008
ANZ challenged by regulator

A submission to the Takeovers Panel by the Australian Securities and Investments Commission refutes the ANZ Bank's claim that it did not need to lodge [...]

POSTED ON May 20, 2008
NAB text banking

National Australia Bank has launched its SMS banking service which allows customers to receive an account balance or mini-statement and transfer funds between linked NAB [...]

POSTED ON May 20, 2008
Tax changes for protected capital loans

Investors need to be aware of changes in the budget to the tax treatment of capital protected margin loans. The benchmark indicator that is used [...]

POSTED ON May 14, 2008
Rates on hold but outlook uncertain

While deciding to leave rates on hold at its meeting yesterday, the Reserve Bank has warned that inflationary pressures remain a risk. A statement by [...]

POSTED ON May 7, 2008
Inflation pressures remain

While economists expect there is enough evidence of slowing in the economy to prevent another rate rise today, the Reserve Bank will no doubt be [...]

POSTED ON May 6, 2008
Building approvals take a tumble

The chance of another rate rise when the Reserve Bank meets again next week has been reduced following the release of figures that show a [...]

POSTED ON May 2, 2008
High rates halt credit growth

Consumers and businesses are cutting their use of credit as a succession of rate rises start to bite. Figures released by the Reserve Bank of [...]

POSTED ON May 1, 2008
Higher rates inflate inflation figure

Analysts are calling on the Reserve Bank to take the effect of higher interest rates into account when considering how to respond to an inflation [...]

POSTED ON April 30, 2008
Aussie banks lag on technology

Australian consumers don't have access to many services that have been available in Asia for years due to a lack of investment in new technologies. [...]

POSTED ON April 28, 2008
Credit disclosure laws revisited

On Wednesday the Productivity Commission will deliver a report to the federal government which will include proposals for a federal takeover of some consumer protection [...]

POSTED ON April 28, 2008
Banks back broker regulation

The Australian banking sector has supported stricter regulation of mortgage brokers. David Bell, CEO of the Australian Bankers' Association, said that national regulation of the [...]

POSTED ON April 24, 2008
Rising Aussie dollar puts pressure on rates

Australian interest rates are under pressure after higher than forecast inflation figures for the March quarter. Underlying inflation rose to 4.2 per cent reversing many [...]

POSTED ON April 24, 2008
Legal action closer for ANZ

The administrators of Opes Prime have given their strongest signals yet that they may take action against ANZ over its actions in the last days [...]

POSTED ON April 18, 2008
Opes to squeeze listed groups

Share prices of many companies have recently felt the squeeze from stock selling after the failure of Opes Prime. Many companies will also experience a [...]

POSTED ON April 14, 2008
Margin lenders’ reassure money is safe

The market's major margin lenders have reassured customers that their assets are safe. Commsec and Leveraged Equities distanced themselves from the failed stock lending players [...]

POSTED ON April 14, 2008
Another broker in peril

Sydney based Lift Capital has been named another potential broker who has been attracting the attention of the regulators. Like Opes Prime, Lift Capital provides [...]

POSTED ON April 10, 2008
Consumer confidence takes a bite

Higher interest rates and rising fuel and food costs are putting a significant amount of pressure on consumer spending, suggesting that the work of the [...]

POSTED ON April 10, 2008
ANZ in $1 billion worth of bad debt

Sharemarket volatility combined with the collapse of Opes Prime has left ANZ with the possibility of $1 billion in bad debts. ANZ shares fell 6.6% [...]

POSTED ON April 8, 2008
Stock lending data disarray

The Deputy Chair of the Australian Shareholders Association may have identified a $84 billion hole in official stock lending data. A recent BNP Paribas report [...]

POSTED ON April 8, 2008
Lots to learn from Opes

Proceedings in the Federal Court last Friday began to uncover alleged fraudulent actions by both Opes Prime directors and possibly even ANZ staff. Evidence currently [...]

POSTED ON April 7, 2008
Plans to force disclosure

The Federal government plans to force investors to hold equity derivatives to disclose their holdings to the market. Currently no such regulation exists and many [...]

POSTED ON April 7, 2008
Market yields better value

Analysts now believe that long-term investors are returning to the share market, with recent strong gains on most indices worldwide. Analysts quoted as saying there [...]

POSTED ON April 4, 2008
Margin lending on the rise again

A number of lenders including Macquarie and Leveraged Equities claim to have received a greater number of applications in January than during previous bull runs. [...]

POSTED ON April 2, 2008
Broker backs ASX competitor

Credit Suisse has taken a shareholding in AXE ECN. AXE ECN is currently awaiting government approval on whether it will be able to break the [...]

POSTED ON April 1, 2008
Opes accused of hiding losses

Investigations have begun into the alleged fraud by Opes Prime Head Laurie Emini. Yesterday a court heard that Mr Emini is alleged to have told [...]

POSTED ON April 1, 2008
ASX beefs up fines for market manipulation

Any stockbrokers found to be seriously manipulating the market will face a maximum fine of $1 million from Monday. The Australian Securities Exchange said that [...]

POSTED ON March 27, 2008
Shareholders urged to join litigation

Litigation funder IMF has decided to fund shareholder class actions against Allco Finance Group, MFS, Centro Property and Centro Retail. While no action has been [...]

POSTED ON March 26, 2008
Every silver lining has a cloud

Share markets staged something of a recovery yesterday following news from the US of stranger than expected housing sales in February, and JP Morgan's decision [...]

POSTED ON March 26, 2008
US Fed rate cut boosts sharemarket confidence

The US Federal Reserve has slashed interest rates by 0.75 percentage points, prompting rallies in share markets around the world. While it is too early [...]

POSTED ON March 20, 2008
Financials bear the brunt of market fall

Concerns about the escalating problems in the US economy and the health of the financial sector have seen shares in local banks take a pummelling [...]

POSTED ON March 18, 2008
Investors worried by extent of US Fed action

Interventions by the US Federal Reserve intended to boost the economy are being increasingly seen by investors as signs of desperation and only serving to [...]

POSTED ON March 18, 2008
Rescue bid for Bear Stearns

The fifth largest investment bank in the United States, Bear Stearns, has been thrown a lifeline after running out of cash. Concerns about the financial [...]

POSTED ON March 17, 2008
ASIC warns on fringe brokers

A survey of home owners struggling to meet mortgage repayments has found cases of fringe brokers engaging in "equity stripping". Borrowers are being asked to [...]

POSTED ON March 14, 2008
Market close to tipping point

The Australian share market came within 100 points of the 5000 point psychological barrier during intraday trade yesterday. The market recovered some of the losses [...]

POSTED ON March 12, 2008
Losses mounting in super funds

Superannuation funds are heading for their first annual loss in six years on the back of a 25 per cent fall in the sharemarket since [...]

POSTED ON March 12, 2008
ASIC ramps up investigations

The corporate regulator is seeking explanations for a number of suspicious share trades as it steps up its efforts to clamp down on market manipulation. [...]

POSTED ON March 12, 2008
Legal action planned against Fincorp directors

Insolvency firm KordaMentha has told creditors of collapsed property group Fincorp that there could be a basis for pursuing legal action against its directors. The [...]

POSTED ON March 11, 2008
Director share trading under scrutiny

New research has found that 23 directors engaged in trading shares in their company during the blackout period between when the books are closed and [...]

POSTED ON March 10, 2008
Big margin call on Allco directors

Shares in Allco Finance Group, owned by the company's directors through a margin loan facility held by Allco Principals Investments, have been handed over to [...]

POSTED ON March 7, 2008
Increased scrutiny for short-sellers

Market regulators are clamping down on short-selling activities, reminding hedge funds that they have legal obligations to disclose their activities in this area. The Australian [...]

POSTED ON March 7, 2008
Record February share trades

The Australian Securities Exchange has reported its busiest February on record. Cash market trades of 8 million in February were 80 per cent higher than [...]

POSTED ON March 6, 2008
Strong growth at HSBC

HSBC Australia is expecting strong growth this year and says that it will be able to repeat the 23 per cent rise in underlying profits [...]

POSTED ON March 6, 2008
Banks may have to lend less

Banks are starting to reduce their lending activities and the Reserve Bank believes the tightening could get worse. Assistant governor Guy Debelle told a conference [...]

POSTED ON March 6, 2008
Directors pressured to show their margins

Asciano is the first company to disclose the margin loan positions of its executives following a reminder of disclosure obligations from the Australian Securities Exchange [...]

POSTED ON March 4, 2008
Allco founder stands aside

Allco founder David Coe stepped down as executive chairman yesterday and an insider has revealed that issuing a profit warning was considered as far back [...]

POSTED ON March 4, 2008
Financials fall in share market dive

Almost $40 billion was wiped from the value of the local sharemarket yesterday with financial stocks being hit hardest. Concerns about the impact of the [...]

POSTED ON March 4, 2008
ATO targets do-it-yourself super

The Australian Taxation Office has renewed its warnings to trustees of self-managed superannuation funds after finding that many do not understand their basic legal obligations. [...]

POSTED ON March 3, 2008
Shareholders want better margin disclosure

The Australian Shareholders Association has urged the Australian Securities Exchange and the Australian Securities and Investments Commission to take a tougher line on directors' disclosure [...]

POSTED ON March 3, 2008
Business has big investment plans

Australian businesses are preparing for a 23 per cent increase in investment during 2008-09. These results from the Australian Bureau of Statistics will, if companies [...]

POSTED ON February 29, 2008
Director margin loans under scrutiny

Investors want greater disclosure margin loans held by directors against shares in their companies and the federal Minister for Corporate Law, Nick Sherry, has asked [...]

POSTED ON February 28, 2008
MFS delays release of financials

Gold Coast financial group MFS has asked for permission to delay announcing its half year results and is seeking a reprieve from its commitment to [...]

POSTED ON February 28, 2008
Share trades by texting

Investors will be able to use their mobile phones to trade shares via SMS with a new service introduced by online broker Bell Direct. In [...]

POSTED ON February 27, 2008
Allco punished for hidden debt

After many delays Allco has finally announced a net profit of $83.94 million for the first half of the current financial year, a fall of [...]

POSTED ON February 26, 2008
ASX snoops around director trades

The Australian Securities Exchange is investigating more than 900 trades by directors in the own companies' shares made since the start of this year. This [...]

POSTED ON February 21, 2008
Insider trading entrenched according to execs

According to senior markets executives insider trading is rife on the Australian stock market and has become "part of the system". Share prices of takeover [...]

POSTED ON February 20, 2008
Troubled Tricom finds a buyer

Bell Financial Group has agreed to buy take over Tricom as long as no hidden problems are discovered during diligence checks. Shareholders will have to [...]

POSTED ON February 20, 2008
ASIC questions disclosure rules

The Australian Securities and Investments Commission said yesterday that 44 per cent of consumers can't read well enough to understand investment disclosures and only 20 [...]

POSTED ON February 19, 2008
Allco asset sale imminent

Shares in financial services company Allco have been in a trading halt since last Monday while it is believed to be considering a partial asset [...]

POSTED ON February 18, 2008
It’s been a busy time at the ASX

The Australian Securities Exchange is referring an increased number of insider trading allegations to ASIC with six breaches referred in January alone, compared with the [...]

POSTED ON February 15, 2008
Tricom struggles with fund demand

The future of troubled broking firm Tricom is in doubt as it has been forced to seek a buyer. With some of the company’s largest [...]

POSTED ON February 15, 2008
Industry wants 15% super in 7 years

The superannuation industry says that most people are not saving enough to fund their retirement and have called on the government to force 15 per [...]

POSTED ON February 14, 2008
Lenders check the books at Allco

Lenders to Allco Finance Group have called in corporate restructuring specialists as they attempt to ensure the viability of the investment finance specialist. With Allco [...]

POSTED ON February 14, 2008
Regulator eyes margin loan industry

The Australian Securities and Investments Commission has called for greater regulation of the $36 billion margin lending sector. In its submission to the Productivity Commission, [...]

POSTED ON February 14, 2008