Beginning June 1st 2010, the Australian Securities and & Investment Commission (ASIC), an independent government body, assumed the oversight and regulations of banks, non-bank lenders, and brokers, from the Australian Securities Exchange (ASX). The government agency is committed to tough new rules and guidelines in order to protect consumers. read more..

According to Skander Malcolm, the chief executive of GE Capital Australia, throughout the next decade cash may be scarce due to the steadily increasing cost of capital. Mr. Malcolm asserts that cash will still be available to all who want it; however, the price of borrowing or the interest rate charged may be much higher than before the global economic crisis, when there was an abundance of liquidity in the market. read more..

The Westpac/Melbourne Institute leading index for June, which measures economic growth six to nine months in the future, decreased 0.1 points in the month.
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Possibly one of the most gratifying details in the Commonwealth Bank’s recent quarterly earnings statement was that fewer of the bank’s borrowers, including credit card holders, remain in financial difficulty, a tribute to Australia’s strengthening economic recovery. read more..

During the interviews following the announcement of the Commonwealth Bank’s historic full-year cash profit, its chief executive, Ralph Norris, refused to rule out an out-of-cycle rate rise. read more..