Month: September 2010

Global rating agency Finch Ratings has announced it will start stress testing Australian Banks after a flood of inquiries questioning the sustainability of Australia’s housing bubble. Ben McCarthy, Finch Rating’s Australian Managing Director said “Over the last few months, Fitch has received numerous enquiries as to the sustainability of Australian …

A secret treasury economic brief to the government warns Australia’s high level of household debt and Australian bank’s reliance on overseas funding are significant risks to the Australian economy. The brief, known as the “Red Book” was made public on Friday after many freedom of information requests. “Highly indebted households, …

Latest data from the Melbourne Institute show the number of households that are debt free has fallen to 9 year lows with only 36.2 percent of households holding no debt in the September quarter, a record for the survey which began in 2001. Recent ABS data shows Household debt has …

Borrowers will need to brace themselves for a raft of rate rises next year as the economy strengthens according to a former senior Reserve Bank economist. Paul Bloxham, the newly appointed HSBC chief economist for Australia and New Zealand has predicted the RBA will bump up the official cash rate …

You have heard it time and time again. A small miracle has occurred down under, we have dodged the biggest financial crisis since the great depression and are on the road to recovery. But are we? Are we really in the Great Impression – The impression that everything is a …