Daily FNArena News - Australia

The RBA has left its cash rate at 3% again and no longer sees “scope for further easing”.

RBS Australia has joined the chorus of brokers turning more positive on the banking sector, lifting its forecasts, targets and in some cases ratings primarily to reflect lower bad debt expectations.

There is a proposal at hand that Australian banks be allowed to issue “covered” mortgage bonds in order to restart the securitisation market. Is this just a step back into hell? FNArena responds to a reader enquiry.

Evidence the economic recovery in Australia remains fragile can be found in the fall in the ANZ job ads series in July, the 15th consecutive month of decline in the measure.

It appears Macquarie Group has avoided disaster and ridden out the storm. But can it go back to making good money?

The TD Securities-Melbourne Institute Monthly Inflation Gauge jumped in July and while it remains below the RBA’s target band it does cloud the inflation outlook.

Australian building approval numbers bounced back from a weak May to record a solid gain in June, while house prices also rose in both the month and the June quarter.

Credit Suisse says Wesfarmers shares are overpriced relative to its peers in the discretionary retail and coal sectors.

National Australia Bank’s survey for June and the latest Conferene Board Leading Indicator showed mixed results in terms of the implications for Australia’s economic growth outlook.

Why does Virgin need quite so much cash given it already expected to break even next year?