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The Latest Breaking News from Westpac

Interest rates could peak at 4.1% amid sinking consumer confidence in Australia, says NAB

Major bank believes business conditions and confidence are improving as it sets cash rate prediction higher than other banks

The Guardian - AU · Feb 14, 2023

Cloncurry Westpac branch closure sparks outrage as residents fear more services will leave

Residents in a major mining and farming community are fighting the closure of a Westpac branch saying the move is "unacceptable".

ABC News · Feb 9, 2023

Parliamentary inquiry into regional banking to be held as branch closures continue

The inquiry will examine the impacts of branch closures on communities, as well as the effectiveness of current data.

ABC News · Feb 9, 2023

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Get the best deal on your mortgage after a year of interest rate hikes

There’s been no shortage of pain for Australian home owners this year as the fastest interest rates hikes in decades hit families.

The New Daily · Dec 22, 2022

'The return of goodwill'

Reflections on 50 years of China-Australia relations through the eyes of two people who have been at the centre from the start.

ABC News · Dec 21, 2022

Australian towns are fighting to hold on to their bank branches, as government flags review of replacement services

In the past five years, the number of bank branches has dropped 30 per cent. While growing numbers of Australians are doing their banking online, the local bank remains a vital service for many isolated regional communities.

ABC News · Dec 19, 2022

Home owners hit with huge insurance increases after Murray, Murrumbidgee River floods

Austin Gregor knew that after the floods the insurance premium hikes would come, but he never expected his bill to increase by $20,000.

ABC News · Dec 17, 2022

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Westpac ordered to fork out $29m in compo

Westpac customers in their thousands stand to share in compensation worth nearly $30 million following a successful class action over superannuation fees.

AAP · Dec 16, 2022

Westpac flags rates impact in 2023

Westpac expects tighter monetary policy and slowing economic growth to impact some of the bank's customers next year.

AAP · Dec 13, 2022

Consumers hopeful tide will soon turn on interest rates and home prices, but businesses gloomy

Households are hoping interest rates will reach their peak soon and home prices may start to rise. However, rising inflation and interest rates have businesses worried about the future.

ABC News · Dec 13, 2022

Westpac walks away from Tyro Payments

Westpac says it won't make an offer for Tyro Payments, which has also rejected a bid from Potentia Capital Management.

AAP · Dec 12, 2022

Economy up 0.6 per cent in third quarter

Aggressive interest rate hikes have done little to slow growth in the September quarter, with the economy expanding by 0.6 per cent over the three months.

AAP · Dec 6, 2022

Will house prices go up in 2023? The answer largely depends on interest rates

Australian house prices are forecast to rise in several states if economic conditions are favourable, according to a new report from SQM Research.

ABC News · Nov 28, 2022

Major banks to pay $126 million after dodgy insurance sales to customers

Up to one million ANZ, Westpac and CBA customers will share in $126 million after being sold consumer credit insurance of little use.

The New Daily · Nov 14, 2022

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AAP · Nov 14, 2022

Banks to pay $126m over dodgy insurance

A class action has been settled with three of Australia's big banks, with customers sold consumer protection insurance to share in $126 million.

AAP · Nov 8, 2022

Keep an open mind, murder trial told

A Sydney man says he was acting in self-defence after admitting he strangled his wife in their family home in May 2020.

AAP · Nov 7, 2022

Husband killed to 'silence' nagging wife

A man accused of murdering his wife told police he strangled her in their western Sydney home because he wanted freedom from her bullying and nagging.

AAP · Nov 6, 2022

WBC profit at $5b-plus, rates yet to bite

Westpac has posted an annual profit of $5 billion-plus and says while interest rate rises will bite, many customers remain ahead on their mortgage repayments.

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ABC News · Nov 3, 2022

Anti-money laundering watchdog probes online gambling giants Sportsbet and Bet365

The Australian Transaction Reports and Analysis Centre (AUSTRAC) is launching an investigation into two of the nation's biggest online sports betting companies over money laundering concerns and warns that it wants the multi-billion-dollar gambling industry to "lift its game".

The New Daily · Nov 2, 2022

Alan Kohler: Economists disagree on where interest rates are heading – shock

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

ABC News · Nov 2, 2022

What changes are banks making to interest rates?

A flurry of banks have passed on interest rate rises to borrowers after the Reserve Bank increased the cash rate by 0.25 percentage points on Tuesday.

The Guardian - AU · Oct 28, 2022

Rate rise expected on Melbourne Cup day likely to be followed by higher inflation outlook

Two of Australia’s biggest banks predict the Reserve Bank will revise the inflation rate to 8% – the highest since March 1990

AAP · Oct 27, 2022

Banks forecast sharp interest rate hike

Mortgage holders are likely to see repayments jump even higher as the inflation dragon proves harder to slay than expected.

ABC News · Oct 19, 2022

Australian banks close hundreds of branches and ATMs as services move online

Since 2017, Australia has seen a 30 per cent drop in available bank branches nationally, with more than 300 closing in the past financial year.

AAP · Oct 19, 2022

More rural towns lose their last bank

The Finance Sector Union says Westpac has announced the closure of 23 of its group's branches across Australia, with the loss of 92 jobs.

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