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Australia's household spending accelerated to its fastest pace since June 2023, providing more reason for the Reserve Bank to raise the cash rate.
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CommBank and NAB have joined ANZ in forecasting a further cash rate increase, with NAB saying it will happen next month.
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Australia's unemployment rate rose to 4.5% in July, its highest rate in post-COVID times, with the economy shedding around 16,000 jobs.
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Commonwealth Bank and ANZ have nudged their 12-month term deposit rates lower in another signal of where big banks think interest rates are heading.
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Wage growth in the private sector has hit its slowest rate in almost four years as the labour market softens.

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Australia's big four banks have reported steep plunges in home loans as high interest rates and federal budget investor tax changes douse housing market activity.
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https://t.co/Yx6oc5kzqd

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Westpac has seen home loan applications fall 20% post budget with demand expected to fall further this financial year.
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Commonwealth Bank has knocked a full percentage point or more from its six-month term deposit rates, signalling the bank is not expecting a cash rate rise in the near term.
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https://t.co/9IUzzrROsu

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Global bank HSBC is winding up its retail banking business in Australia, selling its $36 billion loan book and winding down its other products over the next 18 months.
https://t.co/uqUxPf4Hvg

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Macquarie Bank has dropped variable home loan rates by five basis points as new mortgage applications dry up across the market.
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https://t.co/4xvpde8Hwy

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National Australia Bank home loan applications were down 15% on the previous quarter while the number of loans on "watch" jumped 8%.
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https://t.co/VSni94MxHl

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Two of Australia's biggest non-bank lenders have raised their maximum loan sizes to $3 million as lending demand slows across the market.
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https://t.co/T2IJr9M18Y

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ING Australia has launched a new market-high 6% p.a. introductory rate for new savings customers, but there are a couple of provisos.
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https://t.co/Db5Dswd1BH

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AMP Bank's popular GO Save account will see interest rate and tier changes little over a year from its launch.
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Inflation is the single biggest concern of everyday Australians although not all understand how higher interest rates can help fight it.
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NAB has cut up to 20 basis points off its one- and two- year fixed home loan rates as the housing market stalls.
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https://t.co/cW8d7dPWZH

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Home loan applications were down 14% in June compared to a year ago with first homebuyer demand falling even further.
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https://t.co/lq80O2HffN

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Macquarie Bank is looking to grow its share of Australia's term deposit market, launching new digital products for higher deposit amounts that come without break fees.
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https://t.co/Qh7I17AAWL

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Commonwealth Bank has added at least a full percentage point to its six-month term deposit interest rates while joining the market trend of cutting longer-term rates.
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https://t.co/uadZczSg7b

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Rents around the country have re-accelerated in the June quarter as low vacancy rates, limited stock, and changed investor tax outlooks squeeze the market.
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https://t.co/veBKpf6O0x