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The Latest Breaking News from Westpac

Big bank takes action as Middle East crisis rolls on

National Australia Bank has followed Westpac to apply new measures to head off the impact of the Middle East conflict on its balance sheet.

AAP

Ben Roberts-Smith denies war crimes allegations – As it happened

All the day’s news as it unfolded

The Guardian - AU

Warning for borrowers as RBA frets over its credibility

The Reserve Bank is worried about 1970s-style runaway inflation if it loses credibility in fighting inflation, as analysts warn of up to five more rate hikes.

AAP

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Fraud case stalls against fugitive developer's daughter

Plea negotiations for the lawyer daughter of fugitive property developer Jean Nassif are bogged down despite months of assurances the case would resolve.

AAP

‘Stagflationary shock’ from Iran war a ‘nightmare’ as confidence crashes among Australian households

Weakened economic activity, soaring fuel prices and rising inflation have created a horror scenario, RBA deputy governor says

The Guardian - AU

War hits home for big Aussie bank as confidence slumps

One of the big four banks has become the first to reveal that the conflict in the Middle East is affecting its business, ahead of the May federal budget.

AAP

RBA to sift through jobs data as world watches Hormuz

The labour market will be top of the economic agenda in the coming week, while speaking engagements from central bank officials will be closely studied.

AAP

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Anthony Albanese to address nation on Wednesday night as treasurer announces Covid-era support measures

Prime minister to deliver address live at 7pm AEDT as Jim Chalmers says Iran war having ‘extreme impact on global economy’

The Guardian - AU

CBA ups inflation prediction as supply chains strain

Australia is staring down the barrel of inflation above five per cent as a result of the Iran oil supply shock, economists from the Commonwealth Bank warn.

AAP

ASX trims gains as US allies weigh entering conflict

Markets have welcomed a US deadline extension on its latest threats against Iran, but ongoing oil supply constraints continue to weigh on confidence.

AAP

Shifting more healthcare to the private sector calls for a clear government plan – where is it?

Access to public elective services such as hip replacements or cataract surgery has long been inadequate in New Zealand, with extended wait times and exclusion of those not assessed as high priority despite genuine clinical need.

The Conversation

Isolated and exposed: can New Zealand’s fragile economic recovery withstand the global oil shock?

New Zealand economic growth tipped to overtake Australia’s this year but Middle East conflict casts a shadow over outlook

The Guardian - AU

Australian households fear double whammy of rate hikes and higher petrol prices will lead to recession

Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warn

The Guardian - AU

Why has the Iran war sparked fears of stagflation for the global economy?

Conflict in the Middle East risks knocking growth worldwide and boosting prices, economists warn, amid global market turbulence

The Guardian - AU

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AAP

Good news is bad news: GDP growth fuels inflation fears

Australia's economy expanded by 2.6 per cent over 2025, above Reserve Bank forecasts, raising fears of an impending interest rate hike.

The Guardian - AU

Australian banks passed interest rate hikes on to mortgage holders – so why haven’t they done so for savings accounts?

There’s an obvious reason for the delay. But the banks still need to compete on savings rates to finance their operations

AAP

Mortgage holders brace for hundreds more in repayments

Two incorrect assumptions have set the Reserve Bank on track for a costly U-turn on interest rates, with borrowers facing steeper repayments on their mortgages.

AAP

Rate rise pain all but certain after inflation shock

Hotter-than-expected inflation figures have convinced analysts the Reserve Bank will lift rates as soon as next week, heaping pressure on mortgage holders.

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AAP

All eyes on crucial data ahead of first RBA meeting

Home owners will wait with baited breath for the Reserve Bank of Australia to hand down its cash rate decision after the release of inflation figures.

AAP

Shares snap three-week win streak despite final sprint

Australian shares have showed no signs of a Santa rally despite gaining in Friday trade but losing for the week as energy stocks plunged.

AAP

'Not ready': investors chop down deforestation action

National Australia Bank shareholders have rejected resolutions related to deforestation, but its chairman says he has concerns about the practice.

AAP

'No value': bank defends dropped no-deforestation plan

Westpac's agricultural customers were clear. Its stand against deforestation is of no value, so the bank dropped plans for a forest protection policy.

The Guardian - AU

CBA boss says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

Commonwealth Bank Australia– which reported a record cash profit of $10.3bn in most recent financial year – charged $270m in ‘excessive fees’ over five years

AAP

Big bank boss takes swipe at surcharge ban consequences

As the Reserve Bank considers a ban on credit card surcharges, the head of the nation's biggest bank has warned of "wrong assumptions" about the payments.

AAP

Australian economy 'island of security' in risky seas

A shock fall in unemployment has wrong-footed analysts and dashed hopes of further interest rate cuts as the treasurer talks up Australia's economic strength.

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