Home lending picks up as investor activity grows
Australia’s housing loan market grew in the December 2024 quarter, with the total value of new loan commitments reaching $87.2 billion, up 1.4 per cent from the previous quarter and 16.0 per cent higher than the same period in 2023, according to the Australian Bureau of Statistics (ABS).
CommBank releases Household Spending Insights Index
The CommBank Household Spending Insights (HSI) Index remained unchanged at 153.4 in January 2025, as Australian consumers took a break from spending following a surge during the Black Friday, Cyber Monday, and Boxing Day sales.
Fed Chair Jerome Powell testifies before Senate Banking Committee
Federal Reserve Chair Jerome Powell has confirmed that interest rates are unlikely to be cut soon, telling lawmakers the economy remains resilient while inflation hovers around 3 per cent, above the Fed's 2 per cent target. ‘We do not need to be in a hurry to adjust our policy stance,’ Powell said, with markets now expecting rates to stay unchanged at the Fed’s March meeting.