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  • Australia gears up for boom « Formula 1 Finance Formula 1 Finance
    should see the Reserve Bank hike rates from neutral to contractionary meaning a cash rate over 6 per cent and the housing variable toward 9 per cent before the next episode is over BIS senior economist Richard Robinson said Mr Robinson said he expects there to be another boom within the decade We are now well and truly into recovery from what turned out to be a modest downturn and not a recession as other forecasters predicted at this time last year he said I know the GFC is still front of mind but it won t take long before we forget Remember the disastrous sharemarket crash of October 1987 which was quickly followed by the property boom of 1989 which preceded the recession we had to have The build up this time will be slower but it s the current caution in risk averse debt and equity markets that is setting us up for the stock and capacity shortages that will underwrite the next boom later this decade Source The Adviser Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On February 23 2010 Finance News Leave a comment Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices

    Original URL path: http://www.formula1finance.com.au/finance-news/australia-gears-up-for-boom/ (2014-01-05)
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  • Home Loan Lending hit by higher rates « Formula 1 Finance Formula 1 Finance
    6 4 per cent in December following a 7 1 per cent drop in November The Real Estate Institute of Australia REIA president David Airey said the data suggests the Reserve Bank s decision to keep interest rates on hold in February was justified The evidence is showing that caution is still needed in monetary policy he said The proportion of first home buyer loans now sits at 21 per cent the lowest since October 2008 and well down on the peak of 28 5 per cent seen in May 2009 Housing Industry Association chief economist Dr Harley Dale said government incentives for new home buyers would help ramp up lending once more Targeting incentives on new dwellings makes a lot more sense than pumping money into the churning of established dwellings he said The tilting of first home grants to new dwellings has lifted both the demand for new homes and the level of new home construction Source The Adviser Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On February 11 2010 Finance News Leave a comment Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January 2014

    Original URL path: http://www.formula1finance.com.au/finance-news/home-loan-lending-hit-by-higher-rates/ (2014-01-05)
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  • Interest rate rises in Labor hands « Formula 1 Finance Formula 1 Finance
    per cent a year once economic growth returns to trend and to hold it there during the five or so years it will take to return the budget to surplus Mr Hockey said the governor s words showed it needed to go further Mr Stevens refers to what would happen if there was relatively rapid fiscal consolidation If it s not rapid that means rate rises are the government s fault But while holding open the prospect of a long period of low rates Mr Stevens also indicated that the thought disturbed him If it continued after the financial sector repair had largely been completed it would raise its own set of questions about financial stability he said Suggesting that in future the setting of interest rates might take account of their effect on instability as well as inflation he asked whether monetary policy can plausibly escape any responsibility for helping to create booms and busts He said that until recently it was thought central banks should do no more than clean up after busts Mr Stevens told the governors he suspected they had a moral duty to do more and to target excessive growth of asset prices and debt and risk taking as they became apparent This amounts to an argument to err on the side much earlier in the process of not keeping interest rates unusually low he said Such an approach might require a rewriting of the agreement between the governor and the treasurer which requires the bank to focus on consumer rather than asset price inflation A spokesman for the Treasurer Wayne Swan said Mr Stevens was clearly and expressly discussing the situation relating to governments around the world which have dramatically higher debt levels than Australia Governor Stevens has clearly said he is very comfortable

    Original URL path: http://www.formula1finance.com.au/finance-news/interest-rate-rises-in-labor-hands/ (2014-01-05)
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  • RBA flags further rate rises « Formula 1 Finance Formula 1 Finance
    performance of the economy over the past few quarters is largely accounted for by bringing forward spending in which case economic growth will be softer this year as the effects of fiscal and monetary stimulus fade But the RBA appears to think it more likely that firmer labour markets with rising household incomes and wealth will encourage spending and consumption The central bank s monetary policy statement says an improved outlook for the resources sector with higher commodity prices is also likely to bolster economic growth and this is clearly not due to temporary policy factors But the Reserve Bank is more cautious about the outlook for the international economy Although it says the outlook for the global economy is much better than feared in the early part of last year with global growth forecasts revised up to 4 per cent in the next two years it highlights a series of risks Among them is the the durability of the recent economic recovery in the major advanced economies In many of these countries current growth rates are being boosted by the dynamics of the inventory cycle and temporary fiscal measures the Reserve Bank noted For a sustained recovery to take hold a substantially stronger pick up in private demand than has been evident to date will be required Many of these countries also face very significant fiscal challenges that will need to be addressed over time and have bank systems that are still experiencing credit losses from the weak economic conditions Coupled with mounting concerns about government debt in southern European countries such as Greece Spain and Portugal these global risks may make the RBA board cautious about lifting rates too quickly Australia s unemployment has probably peaked at 5 75 per cent according to the RBA But it says

    Original URL path: http://www.formula1finance.com.au/finance-news/rba-flags-further-rate-rises-2/ (2014-01-05)
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  • Rate rise a 'risk' to recovery « Formula 1 Finance Formula 1 Finance
    impact on NSW and Victoria than Queensland and WA because NSW and Victoria are not getting as much of that commodity boom impact Mr Haslem said Figures published yesterday by broker AFG show the average NSW mortgage was about 400 000 in January compared with 320 000 in Queensland and 390 000 in WA Victoria s average mortgage was 330 000 The Australian dollar s 30 per cent surge last year will also hurt the south eastern states more because it cuts the income from key export industries such as manufacturing and tourism This return of a two speed economy is expected to bring unemployment below 4 per cent in mining states from above 5 per cent now with slower jobs growth elsewhere Adding to the picture of tighter labour markets a Clarius Group index to be published today said building and engineering were among the fastest growing areas for labour shortages The recruitment company said that 17 out of 20 skilled occupation groups had experienced tightening demand during the December quarter Faced with a two speed economy the dilemma for the RBA is that its only tool is the blunt instrument of changes to interest rates Before the financial crisis the Howard government helped to share the wealth from the mining boom by using soaring company tax flows to fund tax cuts But RBS chief economist Kieran Davies said this option was not open to a government looking to put the budget on a path to surplus Mr Howard would always redistribute amounts around the country through tax cuts But this time around you would think the states benefiting from strong employment and strong investment will be Queensland and Western Australia Mr Davies said SOURCE Clancy Yeates Sydney Morning Herald Brett Colley 365 Posts Brett has been involved in

    Original URL path: http://www.formula1finance.com.au/finance-news/rate-rise-a-risk-to-recovery/ (2014-01-05)
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  • Majors to undercut RBA « Formula 1 Finance Formula 1 Finance
    order to claim a PR victory Mr Richardson said many consumers had lost faith in the majors over the last few months and so they would be looking to slash interest rates in order to rebuild borrower confidence But it s important to act first Mr Richardson said The second bank to do it won t get as much applause he told The Daily Telegraph Mr Richardson also said the banks would undercut the Reserve Bank by a further 40 basis points in 2011 savings customers with a 300 000 home loan up to 80 a month AMP Capital Investors chief economist Shane Oliver agreed with Richardson s predictions and said banks would be raising rates by less than the Reserve Bank by year s end If this is the case Australian homeowners could save 150 million a month on their home loan repayments collectively Source The Adviser Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On January 27 2010 Finance News Leave a comment Leave a Reply Click here to cancel reply You must be logged in to post a comment Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January

    Original URL path: http://www.formula1finance.com.au/finance-news/majors-to-undercut-rba/ (2014-01-05)
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  • Inflation increase gives weight to Feb rate hike « Formula 1 Finance Formula 1 Finance
    within the Reserve Bank s 2 to 3 per cent target band Core inflation was also within the Reserve Bank s target range coming in at 2 4 per cent for the year TD Securities senior strategist Annette Beacher told ABC News that interest rates were still low considering Australia s seemingly rapid economic recovery After a period of clear disinflation over the year from mid 2008 inflation has now not only bottomed out but early signals suggest some emerging upside pressure This shift justifies the recent rapid fire adjustment to the cash rate the RBA from 3 per cent to 3 75 per cent Ms Beacher said We expect an additional 25 basis point increase in the cash rate to 4 per cent at the 2 February Reserve Bank board meeting and a pause in March scaling back the pace of the Reserve Bank returning the cash rate to more neutral levels Source The Adviser Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On January 20 2010 Finance News Leave a comment Leave a Reply Click here to cancel reply You must be logged in to post a comment Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest

    Original URL path: http://www.formula1finance.com.au/finance-news/inflation-increase-gives-weight-to-feb-rate-hike/ (2014-01-05)
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  • reserve bank Archives « Page 8 of 11 « Formula 1 Finance Formula 1 Finance
    fell from 116 1 in April to 108 0 in May but rising rates not the budget seemed to host consumers biggest concerns Confidence among Read more Back to Top Banks pounce on interest rate hike On May 6 2010 Finance News Leave a comment the big banks to announce it was lifting its rates following the RBA decision The 0 25 per cent rise takes the bank s standard variable home loan rate to 7 36 per cent National Australia Bank later lifted its standard variable home loan interest rate to 7 24 per Read more Back to Top Economists warn that more pain is on the way On May 5 2010 Finance News Leave a comment the bank will pause at least one meeting but as early as July it may have marshalled the arguments as to why policy doesn t need be just neutral it needs to be restrictive There is a clear and growing bias for rates to go substantially higher Read more Back to Top RBA hints end to home loan rate rise run On April 27 2010 Finance News Leave a comment RBA has indicated that the recent string of home loan rate rises may be coming to an end Speaking at a business forum in Toowoomba last week RBA governor Glenn Stevens said with the economy growing close to trend and inflation close to target interest rates Read more Back to Top Credit growth moderate despite consumer confidence On April 20 2010 Finance News Leave a comment data from the Reserve Bank of Australia RBA showed the total value of transactions on credit and charge cards rose 6 05 per cent in February The average credit card account balance increased by 1 9 per cent to 3 250 in February and it was 3 29 per cent Read more Back to Top RBA hikes home loan rates again On April 6 2010 Finance News Leave a comment another sign of the domestic economy s growing strength the Reserve Bank of Australia has raised the official cash rate 25 basis points to 4 25 per cent the second rate hike for 2010 The latest rate hike comes on the back of a 25 basis point Read more Back to Top Westpac Predict Home loan rates to hold for now On April 1 2010 Finance News Leave a comment Reserve Bank Board next meets on April 6 Markets are currently pricing a probability of around 60 that the Board will decide to lift rates by a further 25 bp s While we have consistently argued that all Board meetings over the course of 2010 are likely Read more Back to Top AMP Bank Ltd to lower interest rates on its entry level home loan products after hiking mortgage rates earlier this month On March 22 2010 Finance News Leave a comment applies for only one year and will revert to AMP s professional pack or classic club variable home loan rate thereafter the bank said

    Original URL path: http://www.formula1finance.com.au/tag/reserve-bank/page/8/ (2014-01-05)
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