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The Latest Breaking News from Westpac

Mortgage holders brace for hundreds more in repayments

Two incorrect assumptions have set the Reserve Bank on track for a costly U-turn on interest rates, with borrowers facing steeper repayments on their mortgages.

AAP

Rate rise pain all but certain after inflation shock

Hotter-than-expected inflation figures have convinced analysts the Reserve Bank will lift rates as soon as next week, heaping pressure on mortgage holders.

AAP

All eyes on crucial data ahead of first RBA meeting

Home owners will wait with baited breath for the Reserve Bank of Australia to hand down its cash rate decision after the release of inflation figures.

AAP

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Shares snap three-week win streak despite final sprint

Australian shares have showed no signs of a Santa rally despite gaining in Friday trade but losing for the week as energy stocks plunged.

AAP

'Not ready': investors chop down deforestation action

National Australia Bank shareholders have rejected resolutions related to deforestation, but its chairman says he has concerns about the practice.

AAP

'No value': bank defends dropped no-deforestation plan

Westpac's agricultural customers were clear. Its stand against deforestation is of no value, so the bank dropped plans for a forest protection policy.

AAP

CBA boss says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

Commonwealth Bank Australia– which reported a record cash profit of $10.3bn in most recent financial year – charged $270m in ‘excessive fees’ over five years

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Big bank boss takes swipe at surcharge ban consequences

As the Reserve Bank considers a ban on credit card surcharges, the head of the nation's biggest bank has warned of "wrong assumptions" about the payments.

AAP

Australian economy 'island of security' in risky seas

A shock fall in unemployment has wrong-footed analysts and dashed hopes of further interest rate cuts as the treasurer talks up Australia's economic strength.

AAP

Rate cut hopes evaporate with healthy jobs figures

Shares have plunged and the Aussie dollar has soared after surprisingly robust jobs figures showed the economy is running near capacity.

AAP

Property investors make up two in every five Australian home loans amid record borrowing

Investor home borrowing surges nearly 18% in the September quarter compared with previous three months, prompting calls to ‘urgently rein in overheated credit market’

The Guardian - AU

Tehan and Ley to reveal Liberals’ net zero emissions position tomorrow – as it happened

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The Guardian - AU

Big four banks slammed for profiting from fossil fuels

Australia's big four banks have made billions from investing in fossil fuel projects in the past decade, but only two have made steps to walk away.

AAP

Australian shares edge higher as investor nerves linger

An early rebound has faded to a modest gain for Australian shares, despite strong performances by miners and energy companies as cautious sentiment continues.

AAP

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Banks say WFH not always possible despite ruling

After Westpac unlawfully denied a mother's request to work from home, a union wants banks to acknowledge staff rights to flexibility.

The Guardian - AU

Liberal party sets date for net zero decision – as it happened

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The Guardian - AU

Westpac says Labor’s expanded first home buyers scheme saw 150% jump in loan applications

Big bank also reveals it has ceased corporate lending to thermal coalmines, but it still funds oil and gas extraction businesses

AAP

Australian share market pares losses to sneak higher

The local bourse has edged higher on the eve of the Reserve Bank's Melbourne Cup Day meeting, settling after reduced rate-cut hopes weighed on sentiment.

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AAP

Westpac admits dropping ball on state bank customers

Overpriced mortgage products at its state-specific subsidiaries have contributed to Westpac losing market share, despite solid growth in customer deposits.

AAP

RBA to reveal interest rate call, economic forecasts

The Reserve Bank is widely expected to keep rates on hold after a spike in inflation, with the bank's updated economic forecasts set to be closely scrutinised.

The Guardian - AU

‘No empathy’: Australian banks under fire for failing customers in hardship

Banks have continued to dismiss thousands of requests for help despite facing regulatory action enforcing their obligation to work with struggling clients

The Guardian - AU

Westpac’s work-from-home complaint was a cultural miff that doesn’t resonate in today’s Australia

Women who manage to perform their jobs well while caring for children should get a bloody medal, not a trip to Fair Work

AAP

Massive fine for home loan compliance failures

Defunct home lender RAMS has been fined $20 million by the Federal Court after admitting to widespread misconduct over a four-year period.

AAP

Investors pull back as shares edge higher for the week

Australian shares are in something of a holding pattern, as investors await key US inflation data and developments in ongoing global trade disputes.

The Guardian - AU

Fair Work has ruled a Sydney woman can work for Westpac from home. Can you WFH too?

Regulator’s decision paves way for workers with caring responsibilities to work from home while separate test case will determine if WFH rights can be applied more broadly

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