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In case you missed it this week, RBA bumps up the cash rate, accountancy associations call for member to decline "capacity to repay" requests, Australia's first Islamic bank to distribute through brokers and the government's expanded home guarantee's launch.
RBA attempts to curb runaway inflation
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The Reserve Bank has continued its approach to fight inflation with a second 50-bp cash rate hike
Accountants to decline ‘capacity to repay’ requests
Several accountancy associations have advised members to decline requests to provide “capacity to repay” certificates, flagging compliance concerns.
Australia’s first Islamic bank will distribute through brokers
APRA has granted a restricted banking licence to Australia’s first Islamic bank, which plans to offer home finance through the broker channel.
Expanded Home Guarantee Scheme launches
From 1 July, 40,000 new places under the federal government’s Home Guarantee Scheme have become available to help Australians buy their own home.
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