A segment from a recent Senate debate (28th November) in which the question of who is pulling the strings on banking policy in Australia.
The context was the failure to get a bill up covering fines for poor bank executive behaviour, a compensation scheme and measures relating to consumer protection.
Financial Services Minister Stephen Jones pulled the bill after heavy lobbying from the banking industry.
The debate highlighted some important questions and critical themes – watch it through to the end to see Senator McKim and Senator Rennick let fly….
Go to the Walk The World Universe at https://walktheworld.com.au/
We look at the latest lending stats from the ABS. Overall new loan volumes are down, but refinancing is still running at circa $12 billion a month, close to record highs. On the other hand, first time buyer volumes are down. But the average new loan is growing again, which may be a sign of more equity-mate style redraws.
Go to the Walk The World Universe at https://walktheworld.com.au/
Fed Chair Powell gave an address overnight which set the markets running higher. The FED will lift rates further but perhaps more slowly. The markets liked that with the Dow moving into bull territory.
And in Australia, ANZ has up forecast future rates here, higher for longer.
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
A bunch of stats from the ABS , RBA and APRA. CPI was down a bit but largely due to rebaselining. The Trimmed Mean was unchanged.
Building approvals were down (again) and the latest data on lending shows an easing.
Net net, not enough to shift the RBA very far – 25 basis points next Tuesday is still most likely.
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
More from Senate Estimates with Senator Rennick asking some important questions of the RBA Governor about how the Bank operates, and its accountability.
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a live discussion about the financial markets with Damien Klassen, Head of Investments at Nucleus Wealth and Walk The World Funds.
We discussed the recent rises in the markets, and whether they are sustainable, policy errors, China, property prices, crypto and investing strategy.
Go to the Walk The World Universe at https://walktheworld.com.au/
More from the Senate as they probed the RBA Governor, this time the discussion related to the cause of inflation. Governor Lowe conceded they had stoked inflation by monetary stimulus and low rates (and over did it). But then tried to defend the decision.
Go to the Walk The World Universe at https://walktheworld.com.au/
