The Commonwealth lender has reported an 8 per cent drop in net profit in its half-year results, with chief executive officer Matt Comyn warning the financial strain hitting customers and the lender’s bottom line will continue through the year. He also says he expects to see an increase in bad loans and that downside risks … Read more
Cameron McIntyre, chief executive of CAR Group, says the local car sector is holding up well despite higher finance charge rates. Subscribe: http://ab.co/1svxLVE He says the fuel efficiency standards will drive up car prices and demand for EVs will grow. ABC News provides around the clock coverage of news events as they break in Australia … Read more
The Reserve lender has left borrowing charge rates on hold at a 12-year high after inflation fell by more than expected towards the end of 2023. It means the cash rate remains at 4.35 per cent. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-02-06/rba-board-keeps-cash-rate-steady-february-2024/103431110 Most economists are predicting a rate cut this year. But the RBA says … Read more