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The Latest Breaking News from ANZ

Consumer confidence plunges to another three-year low

The latest interest rate rise has knocked consumers around and caused sentiment to sink closer to levels last seen at the start of the pandemic.

The New Daily

Teammates retire together ahead of World Cup

Two Silver Fern and Magic teammates decide to retire at the same time, one forsaking possible World Cup selection. Sarah Cowley Ross finds out why.

Newsroom.co.nz

Growth report likely to reveal an economy losing steam

Economic activity is expected to slacken further as higher interest rates and gloomy global conditions persist. The national accounts for the March

The New Daily

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‘Razor’s edge’: Duelling futures for mortgage bills as RBA mulls June interest rates hike

The RBA will decide this week whether to raise mortgage bills for millions of Australian families again, or deliver a June reprieve and pause interest

The New Daily

White-knuckle wait for Tuesday’s latest RBA interest rate decision

Another close interest rate call is looming for the Reserve Bank amid persistent inflation and stagnant productivity growth

The New Daily

Fair Work Australia to rule on minimum wage, paid to millions of Australians

Millions of Australians on award and minimum wages are poised to find out how much more they will be paid. But economists warn a too-generous rise could

The New Daily

Why Australian households are divided when it comes to financial pressure, and economists are divided on the outlook

Economists are divided on how well households will weather the storm of rent rises, soaring home loan rates and rising prices, just as Australians are divided in how much financial pressure they're under.

ABC News

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Consumers have their most pessimistic month since 1990

Interest rate hikes and the lack of real wage growth continue to hit Australian consumers hard and keep confidence subdued.

The New Daily

Family living in one room as new report shows 'extreme' rental stress gripping New South Wales

A new report from ANZ and CoreLogic shows since the pandemic rental prices have increased dramatically, and low-income earners would need to spend more than half their pay to secure a rental property.

ABC News

PwC stands down nine partners, chairman exits over tax scandal, ASX gains on US debt ceiling deal optimism — as it happened

After posting a weekly fall, the Australian share market has jumped at the start of trading, ahead of inflation data and the RBA governor speaking this week. Look back on the day's events and insights from our business reporters on the ABC News markets blog.

ABC News

Rents to income levels reach near decade highs

Rental demand is fast outrunning supply and low-income households are bearing the brunt of the rental affordability crisis, analysis shows.

The New Daily

Australia’s rental affordability drops to worst levels in nearly a decade

New report shows average households are spending a third of income on rent while lower income families pay more than half their earnings

The Guardian - AU

I bought my first home in Australia aged 26. How? A combination of privilege and inheritance

Young people don’t lack the motivation or financial skills to buy a house, they simply lack the money. Parental support often is the only way

The Guardian - AU

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

The New Daily

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The New Daily

ANZ’s profit soars but CEO warns challenges ahead

Australia's third-largest bank has delivered a strong performance for the six months to March but warned of a difficult six months ahead.

ABC News

Which banks have passed on the May RBA rate rise to mortgage borrowers? NAB kicks it off, as ANZ follows

Here is a breakdown of which major banks have responded to the RBA's decision, and which ones we're still waiting on.

The Guardian - AU

Analysts predict RBA will leave cash rate at 3.6% for second consecutive month

But CBA, the nation’s largest mortgage lender, thinks a rise to 3.85% is likely before cuts start in November

ABC News

These borrowers are facing a big jump in their mortgage repayments — but they feel they dodged a bullet

As hundreds of thousands of Australian households brace for a steep hike in their mortgage repayments, there are calls for lenders to better explain to prospective borrowers the risks of interest rate rises or other changes to their circumstances.

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AAP

Inflation data to set the scene for next cash rate call

There will be a lot riding on the quarterly inflation figures as the Reserve Bank board tries to determine if it's done enough to rein in rising prices.

ABC News

Big banks urged to repay scam victims as ASIC report slams inconsistent approach to losses

The big banks are under growing pressure to do more to prevent scams and repay victims after a report by the corporate regulator found they only compensate a tiny number of customers.

The New Daily

Unsealed minutes will detail RBA’s thinking on rate hikes and the current pause

More light will be shed on the RBA's decision to forego a further interest-rate hike when the board's minutes are released this week.

AAP

Reserve Bank's close April decision on show

Further insights into the central bank's decision to hit the pause button will be outlined in the April board meeting minutes.

The New Daily

‘Now in reverse’: Big four banks slash refinancing discounts as profits come under pressure

Australia’s big four banks are reining in their biggest mortgage discounts as tight competition and record levels of refinancing eat into their profits.

The Guardian - AU

The IMF has painted a grim picture of the world economy. What does it mean for Australia?

Australian economists say the IMF outlook supports their case for a soft landing after the rapid rise in interest rates

The Guardian - AU

Australian Taxation Office to force banks to hand over landlord data in investment property crackdown

Exclusive: Incorrect reporting of rental property income and expenses, and failure to declare capital gains are all in the spotlight

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