Most economists expecting that the Reserve Bank will cut the official cash rate again to a new historic low of 1.5 per cent. But a new survey says more households are reporting that they are struggling to pay off their debts.
In Australia, we're entering the final weeks of an increasingly tight federal election race. In Britain, it's less than two weeks until the country votes on whether to remain in, or leave, the European Union. And then there's the growing risk of a Trump presidential victory in the United States.
The regional bank has announced it will increase its variable mortgage rate for investors by 25 basis points, and its rate for owner-occupiers by half of that amount. So, will the big banks follow suit?
With the commodities boom turning to bust, investors are worried that the banks may be too exposed to the struggling mining sector, after two of the big banks—ANZ and Westpac—unexpectedly lifted their provisions for bad debts.