Business

John Collett

Writes about personal finance for Fairfax Media, Sydney, Australia.

Westpac lifts interest rates on fixed rate mortgages

Big banks 'will follow' Westpac's rate hike

Westpac Bank is the first of the majors to increase interest rates on its fixed rate home loans and investment loans, but market watchers says it likely the other majors willย follow.ย 

The government agrees that industry super funds should lose their default monopoly. Illustration: Rod Clement

Government to open super fund default provision to competition

The chairman of the financial system inquiry, David Murray, is "very pleased" with the government's decision to immediately start work on a plan to dismantle the Fair Work Commission's role in overseeing how employers and unions negotiate employees' default superannuation fund.