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The Latest Breaking News from NAB

Why RBA interest rate hikes could end by September – but brace for at least one more

Tuesday’s tenth successive Reserve Bank interest rate hike is the culmination of a process that has added $1,080 to the monthly cost of payments on a $600,000 variable mortgage.

The Conversation

The Reserve Bank is tipped to raise interest rates again, even as some families struggle to meet higher home loan repayments

Australia's major banks expect the Reserve Bank will lift the cash rate to its highest level since May 2012 later today, but thousands of families like Le Tran's are already having to make sacrifices to make ends meet.

ABC News

‘Doing it tough’: Financial pain at three-year high as cost of living, mortgage rates squeeze families

As many as four in ten Australians are now suffering financial hardship as the cost of living crisis combine with big interest rate hikes.

The New Daily

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Australian superannuation funds are top performers globally

Australian superannuation funds stand out globally as top performers and are diversifying their investments to provide more stability

The New Daily

NAB bank head backs in Labor superannuation plan

Labor has received support for its superannuation plan from an interesting quarter - the chief executive of NAB.

AAP

Financial hardship returns to early pandemic levels

Around 40 per cent of Australians are struggling to make ends meet as the cost of living crisis stretches household budgets to their limit.

AAP

Bank closures hurt communities, Westpac admits to probe

Westpac and NAB executives are facing the regional banking inquiry, which is examining the impact of branch closures in country towns.

The New Daily

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A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem

Despite soaring profits for Australia's big four banks, that number in the billions, almost one-in-three of their branches have closed in the past five years and now a parliamentary committee is examining the impact of those closures, especially on regional centres.

ABC News

Cost of cash worth every penny in bush, bank probe told

Cash and face-to-face transactions are central to the social fabric in rural communities, a Senate inquiry examining regional bank closures has been told.

AAP

'Recession risks are rising' but the latest GDP numbers are expected to show 'solid' growth

The latest economic growth figures are expected to show a robust economy. But the outlook for 2023 is far less rosy, warn many analysts.

ABC News

The Australian towns where the nearest bank branch is nearly 1,000km away

With nearly 100 regional branches either closed or soon to close, getting to the bank is becoming increasingly difficult for Australians in remote areas

The Guardian - AU

Florida TV journalist and girl, 9, killed near scene of earlier fatal shooting

The girl's mother and a TV crew member were critically injured.

Axios

Australia to flirt with recession this year, warns NAB

Economists are warning Australia is at a heightened risk of recession in 2023 as the Reserve Bank keeps aggressively raising interest rates, with a per capita recession looking likely.

ABC News

Australia’s housing crisis: how RBA interest rate hikes are pushing families closer to the edge

While some property owners are cashing in on the crisis, many others, such as western Sydney’s Nick Noel, are struggling to explain to their kids why they must tighten the spending belt

The Guardian - AU

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Newcastle Herald

Port of Newcastle confirms its financing is tied to moving away from coal

Conference hears all lending will go 'sustainable' or green

ABC News

Million households 'vulnerable' to rising interest rates, and their cuts could cause recession

A prominent economist now puts the risk of recession at 50 per cent, as households face the prospect of making substantial spending cuts to meet rising home loan repayments.

AAP

NAB calls for united front to combat 'spoofing' scams

The National Australia Bank has revealed a 50 per cent drop in "spoofing" as it calls for a more co-ordinated Australian front against scammers.

The Guardian - AU

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

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The New Daily

Mortgage pain to intensify in 2023 as triple rate-hike looms: NAB economists

Australians must brace for interest rates to rise at least three more times in 2023 as the RBA fights high inflation.

ABC News

China's economy is recovering — is that a good thing for Australians faced with surging prices?

China's rebounding economy is set to have ramifications for Australia — both good and bad — and could exacerbate our cost-of-living issues.

AAP

RBA governor faces grilling on 'hawkish' rate hike talk

Reserve Bank governor Philip Lowe will appear before parliamentary committees this week after what's been labelled as a "hawkish" shift for the central bank.

ABC News

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.

The Guardian - AU

Parents turn to buy now, pay later schemes to meet Australia’s soaring school costs

Financial hardship support has not kept pace with the rising cost of uniforms, books, stationery and computers, peak body says

AAP

New apartments trigger jump in building approvals

A glut of new apartment projects lifted building approvals in December but new house approvals remain subdued, new data shows.

ABC News

Adam thought he was starting a new job, until he lost $28,000. What are recruitment scams and how are they targeting job seekers?

It is the scam that preys on the most-vulnerable feeling that job seekers have: hope. Here is what recruitment scams are and how they are targeting job seekers.

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