Australia’s banks remain “unquestionably strong” and local financial markets are “still functioning” despite being volatile amid growing global strain. Reserve Bank of Australia assistant governor Chris Kent has sought to allay domestic fears of global economic meltdown after a $4bn rescue plan was announced for Swiss bank Credit Suisse overnight.Continue Reading

Credit card spending has reached record levels as the cost of living crisis hits Australian pockets, with warnings about how people could fall into a debt spiral if they keep using their plastic. Monthly purchases on credit cards reached a record high of $33.5 billion in January according to dataContinue Reading