13 result(s) for “Banks”
Reserve Bank of Australia deputy governor Andrew Hauser told a Sydney investment conference that the inflation outlook is "materially worse" than in August, reshaping market pricing for a November cash rate decision and raising the prospect of further pain for borrowers and firms.
National Australia Bank’s plan to cut up to 2,500 roles and Westpac’s separate reduction of about 140 positions underline a wider wave of workforce change across Australia’s banking sector, raising questions about technology, regulation and the short term impact on the labour market.
A new Memorandum of Understanding signed on October 20 commits Australia to a long term partnership on digital, critical technology and telecommunications in Papua New Guinea, creating opportunities for Australian suppliers while raising questions about financing, competition and security oversight.
National Australia Bank has told the market it will reduce its internal workforce by as many as 2,500 roles over the next year as it moves to simplify its operating model and redirect resources to growth and technology initiatives. The announcement rattled the ASX and heightened scrutiny of job security across Australia’s major banks.
The Reserve Bank of Australia in its October 2026 Financial Stability Review warns that elevated global government bond yields and rapid AI-driven shifts in markets pose the most significant risks to domestic financial stability, while the housing downturn and household indebtedness remain manageable for now.
At its 2026 research conference the Reserve Bank of Australia set out a clearer framework for so called additional monetary policy tools and flagged the growing role of financial stability risks for business planning.
A Federal Court order issued on October 11, 2026, requires Westpac to pay A$26 million after finding the bank failed to respond to hundreds of online hardship notices over several years, intensifying regulatory scrutiny of bank treatment of vulnerable customers.
The federal government has overruled the Australian Taxation Office and will fund a transition that allows credit card payments for tax liabilities until 30 June 2027, after small business pressure and political backlash.
The Commonwealth Bank announced an extension of its regional branch closure moratorium, committing to maintain Australia’s largest rural network and increase targeted investment in branches, ATMs and Indigenous outreach programmes.
Major Australian asset managers are cutting exposure to domestic stocks and reallocating to overseas markets as higher interest rates and a deepening housing slump weigh on the ASX. The move poses fresh risks for local companies seeking capital and could deepen the disconnect between Australia and global markets.
From October 5, PayPal will no longer allow merchants in Australia to add a separate fee for accepting PayPal, completing a policy shift that began with card networks on October 1. Businesses face immediate decisions about whether to absorb processing costs, restructure prices, or stop taking card payments altogether, with regulators watching for new fees disguised as service charges.
Australian shares and business sentiment showed caution on September 28, 2026, as traders awaited a likely Reserve Bank rate hike and this week’s inflation data. Household and corporate budgets face more pressure if policy tightens again, with economists warning the RBA’s move could slow growth across interest sensitive sectors.
Rising oil and gas prices are colliding with higher borrowing costs across major economies, creating a difficult combination for households, businesses and central banks as concerns about persistent inflation and weaker growth return.