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The Latest Breaking News from Westpac

Australians pull back on retail spending as case for holding interest rate grows

Sales turnover across most categories dips amid cost-of-living pressures ahead of RBA decision on cash rate next week

The Guardian - AU · Jul 28, 2023

Outlook for economic activity slightly more upbeat

Australia's economic growth is still tracking towards lower-than-usual performance despite future-looking indicators showing a glimmer of improvement.

AAP · Jul 19, 2023

Thinking behind Reserve Bank's 'hawkish pause' on show

Reserve Bank boss Philip Lowe will this week give a speech after keeping interest rates steady in July and the big four banks will be grilled by politicians.

AAP · Jul 9, 2023

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Sydney developer stripped of licence amid police hunt

Property developer Jean Nassif who is accused of fraudulently taking out a $150 million loan has lost his licence after police issued a warrant for his arrest.

AAP · Jul 6, 2023

Banks put family violence perpetrators on notice. Stop using accounts to commit abuse or risk being 'debanked'

Ella never knew when her credit card was going to be declined.

The Conversation · Jul 4, 2023

Borrowers cross fingers ahead of live cash rate call

The Reserve Bank board is set to meet on Tuesday for what is likely to be another finely balanced interest rate decision in the fight against inflation.

AAP · Jul 2, 2023

Easing demand hitting manufacturing sector hard

The outlook for the Australian economy remains gloomy, with the manufacturing sector under pressure from slowing demand and stubbornly high costs.

AAP · Jun 27, 2023

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‘Per capita recession’: Banks forecast longer downturn as more interest rate rises loom

Australia facing a multi-year per capita recession and even a quarter of negative economic growth in early 2024 with higher interest rates.

The New Daily · Jun 20, 2023

‘Finely balanced’: June interest rates hike was sparked by fresh inflation fears, minutes reveal

The Reserve Bank's decision to raise interest rates to a fresh decade high in June was "finely balanced", minutes reveal.

The New Daily · Jun 20, 2023

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU · Jun 15, 2023

Smaller lenders offer savers more than 5 per cent, in contrast to big four

Australians are being urged to consider “breaking up” with the big banks as smaller players rush to pass on higher savings rates.

The New Daily · Jun 12, 2023

Man accused of threatening bank customer in 'targeted' robbery

Police claim the alleged robbery of a Westpac customer was targeted.

The Canberra Times · Jun 9, 2023

Economists warn worst is yet to come after June interest rates rise

The June interest rates hike might not be the last, either, with RBA boss Philip Lowe saying more may still be needed.

The New Daily · Jun 6, 2023

How NSW Blues star Millie Boyle surprised the Stockton Sharks under 13s

'It was like they'd won the State of Origin.'

Newcastle Herald · May 29, 2023

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The New Daily · May 26, 2023

‘Mortgage prison’ sees Australians lose thousands in potential savings

Some borrowers have found themselves locked in a 'mortgage prison', potentially costing them more than $10,000 in savings per year.

AAP · May 25, 2023

Islanders take Barossa gas fight to lender Westpac

Westpac has denied claims it has contributed to potential human rights harms via syndicated loans secured by Santos for its Barossa gas project.

AAP · May 24, 2023

All signs point to lower economic growth than usual

The national economy is tracking toward a contraction in activity, with the patchy performance expected to continue into next year.

ABC News · May 23, 2023

Money mules are involved in the majority of scam reports, ACCC says

Over a four-hour phone call, scammers gained access to Jenny's computer and transferred $300,000 out of her account. By the time she alerted the bank, it was too late.

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The Guardian - AU · May 23, 2023

‘Significant turnaround’ in Australian house prices defies predictions as demand rises

CoreLogic says if increase is maintained, prices will be 4% higher at the end of 2023, defying forecasts of falls of 10% or more

ABC News · May 18, 2023

Mass exodus of regional bank branches across Australia leaves residents seeking solutions

Regional communities home to some of Australia's most vital hubs of industry are being crippled by bank branch closures. A range of remedies have been proposed — but how viable are they?

The Guardian - AU · May 18, 2023

Westpac bans transfers to world’s largest crypto exchange Binance

Bank customers can no longer make payments to the cryptocurrency exchange, in a move to reduce scams

The New Daily · May 16, 2023

Threat of higher rates remains, but peak may be in sight

The Reserve Bank is prepared to hike interest rates again in June, but has signalled mortgage bills may now be high enough cool inflation.

The New Daily · May 16, 2023

Consumer confidence sinks following rate hike, budget

Consumers remain down in the dumps after the 2023/24 federal budget failed to meet the expectations of those under financial stress.

The Guardian - AU · May 11, 2023

Has Jim Chalmers’ budget really poured fuel on the inflation fire? Don’t believe the hype

Headlines stoked fears of ‘stimulatory’ measures but you only need to look at the big banks and markets to see the reception was calm

ABC News · May 9, 2023

Westpac reverses decision to close eight regional branches as senate inquiry continues

Months after postponing the closures because of an ongoing Senate inquiry, the bank has announced that branches in several states will remain open indefinitely.

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