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The Latest Breaking News from ANZ

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

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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

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.

The New Daily

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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.

ABC News

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

The Guardian - AU

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.

ABC News

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.

AAP

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.

ABC News

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.

The New Daily

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.

AAP

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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

Crikey

Here’s how lawyers can save us from the climate crisis

Australia is second only to the US for its surging number of climate litigation. It does work, but perhaps not in the way you might think.

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The Guardian - AU

Australia’s booming banks should do more to protect customers from scams, advocates say

More than $95m has been lost to scams so far this year, while the big four are expected to make more than $33bn

The New Daily

Easter bowser squeeze looms, but there’s a way around it

Australian motorists are being advised to fill-up their tanks outside major capitals as petrol prices rise ahead of the Easter long weekend.

The New Daily

Philip Lowe in spotlight after welcome cash rate call

The Reserve Bank has kept interest rates on hold but a public appearance from the bank's boss could shed some light on the likelihood of more hikes.

ABC News

Tiwi Islands traditional owners lodge human rights complaint against banks over $1.5b Santos loan

Traditional owners of the Tiwi Islands have lodged human rights grievances against 12 banks for their involvement in a $1.5 billion loan to Santos for its Barossa offshore gas project.

The New Daily

Traditional owners ask banks to reconsider Santos loan

Activist lawyers have sent human rights complaints to a dozen banks that helped Santos finance its offshore Barossa project.

The New Daily

Mortgage holder confidence cools ahead of RBA decision

Confidence among those paying off a home loan has taken another hit in the lead-up to another cash rate call that could add more to their monthly repayments.

AAP

Pause on the cards as RBA board meets on cash rate

The Reserve Bank is inching closer to the point it can take its foot off the accelerator but it's unclear if the central bank has done enough just yet.

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