News Articles for Westpac Banking Corporation

The Reserve Bank has held the cash rate at 3.6 per cent, ending 2025 on a pause as inflation proves stickier than expected.

Fraudster's upcoming sentencing is the next step in a long fight for those who lost money.

Australia's central bank has held the cash rate steady at 3.6 per cent, amid an uptick in inflation readings and widely inline with market expectations.

WA's premier national portraiture prize has secured a $90,000 three-year partnership with Westpac, as its total prize pool and entry numbers top those for the Archibald Prize.

The Federal Court has ordered documents relating to Chris Marco's Westpac accounts to be examined in the ongoing proceedings against his companies.

NSW banking executive Alexander Bischoff and his wife Leah have bought a fast food centre in the regional town for $10 million.

Australia's inflation eased to 2.1 per cent in the June quarter, bolstering expectations the Reserve Bank will cut interest rates at its August meeting.

Banks will pay more than $93 million to refund low-income customers who were charged excessive fees, after a review by the corporate watchdog.

Westpac has forecast an interest rate cut by the Reserve Bank of Australia in July rather than August, but added this may not be the “shoo-in” everyone's expecting.

A panel of speakers has highlighted the challenges faced by Indigenous businesses in the state, at a Business News event.

The Reserve Bank delivered a 25-basis-point cut as predicted, but analysts warn the window for further easing may be narrowing.

ANALYSIS: Business News recaps a week's worth of ABS data and looks at where the economy is headed next.

The gold price is inching ever higher as trade volatility continues to weigh on investor sentiment.

The Reserve Bank of Australia has cut the cash rate for the first time since November 2020, but governor Michele Bullock has warned the inflation fight isn't over.

Westpac's 2025 first quarter unaudited profit dipped by 9 per cent to $1.7 billion, compared with its 2024 second half quarterly average.

Gary McGrath has overseen a significant restructuring of Bankwest's operations in his role at CBA.

Politicians are losing control of policy levers and lack the willpower to enact sweeping tax and policy reforms , according to WA businessman Michael Chaney.

Our weekly appointments wrap includes Hayley Vale, Murray Fong, Sherry Duhe, Carl Askew, Sharon Wood-Kenney and Anthony Miller.

Westpac has appointed Anthony Miller as its new boss, succeeding Peter King who will retire after a 30-year career with the bank.

Australia's big four banks will face a parliamentary grilling this week, including questions over ANZ's alleged manipulation of the bond market.

Bankwest will close all branches and undertake a major redeployment of staff to ensure the 129-year-old bank can remain competitive in the digital age.

The Reserve Bank fired off an interest rate hike last month to take out insurance against lingering inflation risks, minutes from a board meeting confirm.

In this podcast: Mark Beyer and Mark Pownall discuss accounting action; WeWork; Qantas; exporters; hydrogen; coal; biofuels, and skills shortages.

Westpac has ended its relationship with external auditor PwC as the under-fire firm continues to face setbacks after a leaking scandal.

Westpac made $7.2 billion in net profit after tax for 2022/23, up 26 per cent from the year before.

Wages growth in Western Australia has outpaced other states and territories, according to the latest data from the Australian Bureau of Statistics.

The corporate regulator has alleged that between 2015 and 2022 Westpac didn't respond to financial hardship notices from 229 customers.

The official labour data has proved resilient but is expected to start responding to worsening domestic economic conditions later in the year.

The outlook for the Australian manufacturing sector remains gloomy as cost pressures show few signs of letting up.

The employment minister has rejected claims a rise in minimum wages would put further pressure on inflation and interest rates.

Westpac is raising its dividend 15 per cent to 70c per share as CEO Peter King says it has become a "simpler, stronger bank".

The national unemployment rate has stayed put at 3.5 per cent while Western Australia recorded a modest uptick in the number of people in work.

Leading indicators for Australia's future growth are still signalling depressed activity in coming months as interest rate rises bite.

Western Australia has recorded the largest drop in retail sales in December compared to other states and territories, according to the latest monthly retail turnover data released by the Australian Bureau of Statistics.

The latest cash rate hike has mortgage holders worried as consumer confidence sinks to the lows of the pandemic.

As the Reserve Bank board prepares to announce an expected 25 basis point rise in the cash rate, figures show Australian trade surplus slipping.

Australian consumers have continued to favour Woolworths after the retail giant was reported as the nation's most valued brand at $16.2 billion.

The Labor government expects wages will keep growing strongly as inflation moderates, ultimately leading to real wage growth by 2024.

The cash rate has hit its highest level since December 2012, with a $500,000 home loan now costing $880 more per month than before the hikes started in May.

Westpac has posted an annual profit of $5 billion-plus and says while interest rate rises will bite, many customers remain ahead on their mortgage repayments.