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Rate cut risks raising debt too high: RBA

Cutting interest rates to marginally boost employment is not worth the risk of encouraging more household debt, the head of the Reserve Bank says. Governor Philip Lowe has told a parliamentary economics committee debt is – See more at:…

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CREDIT CARD REPORT TAKES AIM AT BANKS’ LIMIT INCREASE APPROVALS, FINANCIAL CHECKS

The majority of Australia’s banks are increasing customers’ credit card limits without checking whether their financial circumstances have changed and are failing to ask customers basic questions about the… Read more at: http://www.smh.com.au/business/banking-and-finance/credit-card-report-takes-aim-at-banks-limit-increase-approvals-financial-checks-20170201-gu3lt3.html

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CONSUMERS DOWNBEAT OVER FINANCES, OUTLOOK

Consumers are worried about their own finances and most expect mortgage interest rates and unemployment to rise this year, Westpac says. The Westpac-Melbourne Institute Index of Consumer Sentiment jumped 2.3 per cent to… Read more at: http://www.sbs.com.au/news/article/2017/02/15/consumers-downbeat-over-finances-outlook  

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FORMER WESTPAC BANKER DAVID ST PIERRE JAILED OVER $4 MILLION FRAUD

A ROGUE Westpac banker who fraudulently loaned millions of dollars to elderly pensioners has been jailed for six months. David St Pierre, 46, was sentenced at Southport District Court on the… Read more at: http://www.news.com.au/finance/business/banking/former-westpac-banker-david-st-pierre-jailed-over-4-million-fraud/news-story/dc30d78447481c36a9d389c09ccbb26b

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CONFIDENCE SLIPS AMID FINANCE CONCERNS: ANZ

Consumers are still feeling confident about the economic outlook but are less optimistic about their own finances. The ANZ-Roy Morgan Australian Consumer Confidence Survey shows that… – See more at: http://www.skynews.com.au/business/business/market/2017/02/07/confidence-slips-amid-finance-concerns–anz.html#sthash.OcYH4Na7.dpuf

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