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Making news this week (ending 29 July)

Making news this week, the treasurer warns rate rises will sting, inflation has tipped above 6%, Westpac is set to launch its digital mortgage this year, and APRA chair announces his departure.

Rate rises ‘do and will hurt’: Treasurer

Releasing revised economic forecasts in his first ministerial statement on the economy, Treasurer Jim Chalmers has noted the “pain” that millions of mortgagors are feeling.

Inflation surges to highest figure since GST introduction

Australia’s annual consumer price index has grown to a rate of 6.1 per cent, with housing noted as a key driver.

Westpac to launch digital mortgage this year

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Customers refinancing to Westpac’s Flexi First Option basic home loan will be the first to access the bank’s new digital mortgage, set to roll out in the final quarter of this year.

APRA chair announces plan to depart

Wayne Byres has advised the Governor‑General of his intention to step down as chair of the prudential regulator.

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