Daily FNArena News - Australia

As the financial crisis takes its toll on non-bank lenders and mortgage brokers, it’s ultimately the consumer who will pay.

According to the Reserve Bank of Australia a number of factors support the view the Australian housing market is far less vulnerable to a downturn than is the case elsewhere.

While many expect rate cuts will resume at the RBA’s April meeting, one more voice has joined the choir predicting the rate will once again remain static.

According to Commsec there are some surprising trends evident in the Australian labour market and these suggest unemployment may not rise as high as some are predicting.

The recent run in the share price is too much too fast and has little in the way of tangible support, say brokers.

Australian housing starts fell further in the December quarter and Westpac expects this will add to the current property shortfall.

The latest Westpac Survey of Industrial Trends shows the Australian manufacturing sector continues to find the going tough.

The outlook for steel prices remains subdued but brokers see value in OneSteel.

The Westpac–Melbourne Institute Leading Index for January suggests negative economic growth in Oz is but a few data releases away.

Amidst widespread expectations further rate cuts remain on the agenda, the latest RBA minutes indicate the reserve bank likes to keep its options as flexible as possible.