It is not specific to you, your needs, goals or objectives. “On the mortgage side … general demand for housing in aggregate is still fairly soft, and we expect that to continue through the rest of this year.”. "Rental vacancy rates had risen recently, and members noted that downward pressure on rents was unlikely to dissipate in the near term in either Sydney or Melbourne," the bank minutes said. There have been purchases of Washington H. Soul Pattinson and Co. Ltd (ASX:SOL) shares. Financial Services Guide Trading Glossary The contraction in business lending of 0.4 per cent for August makes it the longest run since the financial crisis in 2009. The RBA acknowledged the decline in house prices but also aired some concerns about credit growth, which has picked up in recent months but is still below pre-COVID-19 levels. Unsubscribe anytime. The bright spot is the owner-occupier market where credit growth has remained steady, growing 0.4 per cent in August, the RBA data shows. Home "Housing credit to investors had continued to decline. Echo Resources (ASX:EAR) has released a statement regarding the off-market takeover bid by Northern Star Resources. Many are now predicting further rate cuts and a lack of credit growth may just speed up that process. RBA governor Philip Lowe. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. "While government payments, super withdrawals and mortgage relief have helped support and boost the incomes of households during the pandemic, Aussies remain cautious about taking on more debt," Mr James said. New Hope Corporation (ASX:NHC) saw increased coal production of 11.3 million tonnes and sales of 11.5 million tonnes in 2020. The owner of the Bowen Hills office asset was left in the lurch in July after the failed airline said it would leave the premises six years before the end of its lease. Phone Trading They also accounted for a larger share of public demand than the Australian government," the minutes said. In July, official figures from the Australian Bureau of Statistics showed that across the country rents recorded their first quarterly fall since the series began in 1972. The bright spot is the owner-occupier market where credit growth has remained steady, growing 0.4 per cent in August, the RBA data shows. The business credit growth rate is a more positive sign and may suggest higher business confidence. Bring your walking shoes, Padding with a passion: Jonathan Anderson is Moncler's latest 'genius', 'Failed painter' creates artworks of uncanny architectural allure, Why you shouldn't scoff at the name of this new Mercedes, Meet the woman in charge of creating Chanel's make-up, The luxury's in the details of the new S-Class, The most powerful woman in fashion you’ve never heard of. 26 Jun 2020 - Following positive leads from US markets, the Australian share market looks set to open higher. On a portfolio basis, we want banks to make some loans that actually go bad, because if a bank never makes a loan that goes bad it means it's not extending enough credit," Dr Lowe said. Fonterra Co-operative Group (ASX:FSF) Chairman John Monaghan has confirmed that he will retire as a Director. Webinars Or is the sector a ticking time bomb? Disclaimer Bring your walking shoes, Padding with a passion: Jonathan Anderson is Moncler's latest 'genius', 'Failed painter' creates artworks of uncanny architectural allure, Why you shouldn't scoff at the name of this new Mercedes, Meet the woman in charge of creating Chanel's make-up, The luxury's in the details of the new S-Class, The most powerful woman in fashion you’ve never heard of. 19 May 2020 - The ASX shot up at the open after a boost from promising news regarding a vaccine for Covid-19. The business credit growth rate has been the best performer and has steadily increased over the last three years, while personal credit has been declining. "While activity in the housing market and loan commitments had picked up in recent months, the flow of new commitments had remained well below its peak and was likely to remain subdued in the face of recent developments in Victoria and uncertainty about the economic recovery," the bank said. Afterpay, Zip Co, Sezzle… is BNPL the opportunity of a lifetime? The board also acknowledged the expansion of monetary policy in countries such as New Zealand and United States and again reaffirmed its own commitment to further monetary easing if required. Personal credit growth is now down 12.5 per cent over the past 12 months. ASX 200 To Open Higher, 3 ASX Shares To Watch, Why I wouldn’t buy CBA (ASX:CBA) shares, but I’d buy Xero (ASX:XRO). To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video. Login Ord Minnett has downgraded Megaport... 22 Sep 2020 - The ASX dropped at the open and failed to gain momentum closing 0.7 per cent lower. The Reserve Bank's board meeting minutes show it is concerned about the lack of credit growth, echoing results from the big banks this week. Easing COVID restrictions in regional Victoria has seen that state record slight rises in payroll jobs and wages. There are several key points here for ASX investors.
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