Westpac exec says rate hike was fair
A SENIOR Westpac executive says its mortgage rate rise was fair, even though Treasurer Scott Morrison has said the hike was twice that needed.
WESTPAC has defended its mortgage rate hike in face of criticism by consumers and politicians, calling it part of an "equitable" set of measures through which it is raising capital to meet banking regulations.
WESTPAC drew widespread criticism this week when it raised its residential and investor variable rates by 0.20 percentage points despite the RBA cash rate remaining at a historic low.
Bad bosses costing Australia $223bn
The nation is missing out on billions of dollars in productivity gains for one key reason.
Trump’s $13 billion blow to Australia
A dark cloud looms over the Australian economy, with the latest global forecasts predicting higher inflation and slower growth.
ASX recovers despite Trump’s wild call
Australia’s stock market has recovered from a sharp fall at the start of trading thanks to the banks and major mining companies.