Westpac Technical Glitch – Westpac is the latest in a string of banks to be hit by technical glitches that have negatively impacted customers. A processing breakdown at Westpac has caused delays in payments across the Australian banking system, with three of the big four banks acknowledging their customers were likely to be hit. Westpac [...]
Tags: Technical Glitches, Westpac
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Interest Rates are Tipped to Drop – Westpac has said it expects interest rates to drop by the end of the year and 100 basis points further in 2012. The Aussie dived more than US1c in late trade to a low of US106.29. The reversal in Westpac’s rates outlook comes as retailers battle the toughest [...]
Tags: interest rates, Westpac
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Banks Are Still Optimistic – Often criticised for not fronting up to the public, Australia’s bank bosses have been almost inescapable in one of the industry’s biggest weeks in recent memory. Bashed by Canberra, the media and their customers, senior executives of the big four banks got a chance to retaliate. Three of the four [...]
Tags: anz, Bank Bosses, Bank Executives, Building Societies, Canberra, Chief Executives, Committee Inquiry, Commonwealth, Credit Unions, Glut, Messrs, Mike Smith, nab, Public Appearances, Ralph Norris, Senate Committee, Senior Executives, Treasurer Wayne, Wayne Swan, Westpac
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Interest Rate Rises Could Force House Sales – The Mortgage Choice survey, completed before the Reserve Bank’s Melbourne Cup day decision to lift the cash rate, found 9per cent of mortgage holders could not afford any increases to the repayments on their loans, The Australian reports. The survey found that the two further 25-basis-point increases [...]
Tags: Australian Couple, Bad Decision, Basis Point, Choice Survey, Consumer Sentiment, Credit Card Debt, Family Budget, Finance Matters, Fixed Rate Loan, Gfc, House Sales, Interest Rate Rises, Loan Contract, Melbourne Cup, Mortgage Choice, Mortgage Holders, Overstretched, Wallaroo, Westpac, Yorke Peninsula
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Bank Chiefs Will Face Inquiry – They will answer parliamentary critics that the Australian banking market is in desperate need of increased competition, The Australian reports. Commonwealth Bank’s Ralph Norris and National Australia Bank’s Cameron Clyne confirmed yesterday that they would appear before the committee when it meets from December 13 to 15. They will [...]
Tags: Australian Operations, Bank Bosses, Bank Chiefs, Bank Lenders, Banking Products, Cameron, Ceos, Chief Executive, Chief Executives, Commonwealth Bank, Desperate Need, Gail Kelly, Independent Senator, Mike Smith, National Australia Bank, Nick Xenophon, Ralph Norris, Regional Banks, Westpac, Xenophon
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