Mon, 26th Aug 2024

In this week's Financial Services Online podcast, Paige Estritori discusses key developments in the Australian finance sector. Advanced topics include the Commonwealth Bank joining Westpac and NAB in rate cuts to attract new borrowers, with rates reduced by up to 0.7 and 0.35 percentage points in fixed and variable segments respectively, sparking anticipation around further rate declines. Elsewhere, an overhaul by the Australian Securities and Investments Commission (ASIC) introduces a new mortgage broking oversight protocol, bringing the standards more in line with financial advisers. In real estate, Perth's property market displays a 72% surge in prices since March 2020. However, National Australia Bank suffers another internet and mobile banking outage, affecting customer trust. The podcast ends with a prompt to remember the potential risks and make informed financial decisions.n