Even though Australia’s financial system has demonstrated resilience despite high inflation, the country’s central bank has issued a warning regarding the risks of excessive borrowing when interest rates decrease. In its semi-annual Financial Stability Review, the Reserve Bank of Australia (RBA) stated that it expected households pressures to ease when lending standards drop, but also … Read more
ANZ CEO Shayne Elliott denied that suspected misconduct by its employees during a 2023 government bond issuance had led to taxpayers losing money. Market regulator Australian Securities and Investments Commission (ASIC) is probing one of Australia’s largest retail banks for presenting incorrect data on monthly secondary bond trading to the federal government in 2023, AAP … Read more
Delivering a tough message in Parliament on Friday, the Reserve Bank of Australia (RBA) governor, Michele Bullock, warned it was premature to expect a cut in interest rates by the end of the year. Bullock admitted inflation remained high, and added official cash rate was a “blunt instrument” to fix the economy. “Based on what … Read more
Australia’s corporate watchdog Australian Securities and Investments Commission (ASIC) is suing the country’s main stock exchange, ASX, alleging that it misled the public about the upgrade of the post-trading clearing house platform, known as CHESS. In 2015, the ASX planned to digitalize the trading system by switching to a blockchain-based clearing and settlement platform. ASX … Read more
