CUA chief says unlikely the mortgage market will see a slow-down in competition... Two majors forecast further drop in Aussie dollar...
CUA embraces competition in mortgage market
CUA chief Rob Goudswaard says it's unlikely the $1.3 trillion mortgage market will see a slow-down in competition as regulators hone in on owner occupiers, The Australian reports.
“My sense is there will continue to be strong interest and strong competition in the home loan market,” he said.
CUA's banking arm saw a 55 per cent spike in lending $3.4 billion in the year, increasing its loan book to a record $10.4bn.
Responding to whether the sector's loan losses would soon increase, Goudswaard said, “Everything inside of me says keep watching this, which we are. But we are yet to pick up any trend to tell us we’ve got a big problem coming down the pipe.”
Two majors forecast further drop in Aussie dollar
The Commonwealth Bank and Westpac have both indicated the Aussie dollar is likely to sink to 66 US cents by year-end, according to an article in the Sydney Morning Herald.
The CBA says it could potentially fall further to 60 US cents by March 31 if interest rates rise and increase the chances for crises in Asia.
"Next year you are probably going to see a material step-up in volatility and that is not a good environment for currencies with economies that have current-account deficits like ours," currency strategist at CBA in Sydney Joseph Capurso told the paper.
"History shows that a year or so after the Fed starts its tightening cycle, you get an increase in the incidence of emerging-market crises."
CUA chief Rob Goudswaard says it's unlikely the $1.3 trillion mortgage market will see a slow-down in competition as regulators hone in on owner occupiers, The Australian reports.
“My sense is there will continue to be strong interest and strong competition in the home loan market,” he said.
CUA's banking arm saw a 55 per cent spike in lending $3.4 billion in the year, increasing its loan book to a record $10.4bn.
Responding to whether the sector's loan losses would soon increase, Goudswaard said, “Everything inside of me says keep watching this, which we are. But we are yet to pick up any trend to tell us we’ve got a big problem coming down the pipe.”
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Two majors forecast further drop in Aussie dollar
The Commonwealth Bank and Westpac have both indicated the Aussie dollar is likely to sink to 66 US cents by year-end, according to an article in the Sydney Morning Herald.
The CBA says it could potentially fall further to 60 US cents by March 31 if interest rates rise and increase the chances for crises in Asia.
"Next year you are probably going to see a material step-up in volatility and that is not a good environment for currencies with economies that have current-account deficits like ours," currency strategist at CBA in Sydney Joseph Capurso told the paper.
"History shows that a year or so after the Fed starts its tightening cycle, you get an increase in the incidence of emerging-market crises."
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