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The newly appointed deputy governor of Australia’s central bank has more than 30 years of experience with the Bank of England.

The customer-owned bank has revealed it is overhauling its loan origination system and looking to grow its broker presence as it builds its book.

A fraud protection endeavour has been launched, including a $100 million investment to create a new confirmation of payee system.

The non-bank lender has announced the completion of its third transaction of 2023.

With 3,084 homes going under the hammer, Australia’s combined capitals are gearing up for their second busiest auction week of the year.

Following the RBA governor’s speech where she has said inflation was “increasingly homegrown”, economists are undecided on further rate increases.

The mutuals have achieved a greater increase in total gross loans than other ADIs, according to KPMG’s Mutuals Industry Review 2023.

Cost-of-living pressures are affecting Australians of every age and occupation. New research, though, has exposed the disproportionate costs for the retirement age population.

Three Westpac subsidiaries have joined the lender panel of the government’s Home Guarantee Scheme that enables Australians to access LMI-free mortgages.

Lenders are being urged to improve their hardship services with an increasing number of Australians needing assistance.

Investigations are continuing into the alleged misappropriation of investment funds from a mortgage and loan business, with findings not expected until next year.

Australian dwelling values have surpassed their previous peak, registering a new record high in November, according to CoreLogic.

The major bank has revealed it will enter 2024 with a reshaped executive leadership team as its deputy chief executive position has been made redundant.

Increasingly persistent inflation has stood as the central cause behind the RBA’s rate hike, the November monetary policy minutes have revealed.

Despite facing challenges such as sticky inflation and lag effects of monetary policy, the Treasurer has declared Australia’s economic position as positive.