Archived News for Finance Sector Professionals - October, 2012
A new ANZ survey has revealed that 79 per cent of Australians are comfortable with fingerprint technology one day replacing their banking pin, and more than a third would prefer to live in a cashless world.
Retail posts modest rise
The latest Australian Bureau Statistics (ABS) Retail Trade figures show that Australian retail turnover rose 0.2% in August 2012, seasonally adjusted, following a fall of 0.8% in July 2012.
ANZ outlines $1.5 billion investment program
ANZ Bank has announced a $1.5 billion major investment program for its Australian business, which will see significant upgrades to ANZ’s distribution networks; simplifying products and processes; providing customers with additional mobile and flexible banking options; further improving the capability of front-line staff.
Services sector continues downward slump
The services sector has continued its downward trend, ending another quarter with a low note, according to the findings in the latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (Australian PSI).
RBA announces cash rate drop
The Reserve Bank of Australia (RBA) has announced its decision to cut the official cash rate by 25 basis points, bringing the official cash rate down to 3.25 per cent.
Tasmania secures AA+ rating
Ratings agency Standards and Poor’s has confirmed Tasmania’s AA+ credit rating, noting the state’s financial management was key to maintaining the “very positive ratings factor.”
Trade deficit blows out by $2 billion
The Australian balance of trade has blown out above a $2 billion deficit, with the balance soaring 32 per cent in July.