ANZ has posted a statutory profit after tax of $2.29 billion for the half year ended 31 March, representing a remarkable 10 per cent increase when compared to the same time last year.

The results will undoubtedly place pressure on the bank to pass on the Reserve Bank’s 50 basis point cut in full, but the bank is staying reserved on whether it will commit to a cut.

The bank has committed to its rates mechanism, after it publically broke from the RBA’s mandated rate policy. Rather than shadowing the RBA, the bank now announces its own rates on the second Friday of every month.

The Australian Securities and Investments Commission (ASIC) has released details regarding the licensing and registration of financial services companies wishing to deliver services regarding emissions under the Australian Government’s carbon pricing mechanism.

Attorney-General Nicola Roxon has announced the Federal Government’s intentions to reform the country’s privacy laws, with an aim to simplify credit reporting arrangements, give new enforcement powers to the Privacy Commissioner and better protect people’s personal information.

Australian households are better off than they have ever been before, but our lifestyle aspirations are compromising our disposable income, according to the latest AMP.NATSEM Income and Wealth Report.

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