- Reuters
Australia consumers balance budget relief against rate risks
Australian consumer sentiment rebounded modestly in June as the promise of imminent tax cuts lightened the mood, a survey showed on Tuesday, though the risk of yet higher borrowing costs loomed in the background. The Westpac-Melbourne Institute index of consumer sentiment rose 1.7% in June from May, when it dipped 0.3%. However, the survey also bracketed a meeting of the Reserve Bank of Australia (RBA) which warned there were upside risks to inflation and another rise in interest rates could not be ruled out.
- Bloomberg
Australia’s Households Remain Pessimistic on RBA Rate-Rise Fears
(Bloomberg) -- Australia’s consumers remained downbeat in June, reflecting concern that persistent inflation could prompt the Reserve Bank to resume raising interest rates.Most Read from BloombergBuzzFeed Struggles to Sell Owner of Hit YouTube Show ‘Hot Ones’Jain Global Raises $5.3 Billion, Secures Cash From Abu DhabiNvidia’s 13% Stock Rout Has Traders Scouring Charts for SupportHow Long Can High Rates Last? Bond Markets Say Maybe ForeverTech Hits Stocks as Nvidia Extends Selloff to 13%: Markets
- Reuters
New Zealand tightens some home loan rules
New Zealand's central bank on Tuesday introduced limits on how much housing finance lenders can provide for borrowers who want to take on a high amount of debt relative to their incomes. The new rules come as policymakers seek to reduce default risk in New Zealand's housing market, which has seen sharp swings in prices. The Reserve Bank of New Zealand (RBNZ) will at the same time ease loan to value ratio (LVR) restrictions, which limit the amount of low deposit lending that they can make.
