POLITICS & POLICY

The board of the Reserve Bank of Australia had anticipated that bank lending rates could increase by more than the cash rate, according to the minutes of the Nov 2 meeting released on Tuesday.

Despite concerns aired by the latest report of the Organisation for Economic Cooperation and Development (OECD), which stated that the national broadband network may prove too costly and could lead to significant financial limbo, the federal government maintained its faith on the project’s viability.

Sarah Palin may have violated environmental guidelines in a new television show featuring her family and her home state Alaska.

The emerging industry of liquefied natural gas (LNG) could potentially boost the carbon emissions reduction efforts in Australia yet existing government policies continue to dwarf that possibility.

The number of merchants charging fees for credit card transactions has risen steeply over the past few years, according to a report commissioned by the NSW government.

Stubbornly confident on its present form and its perceived economic benefits, the federal government remains firm on its commitment to win a parliamentary go ahead for its proposed minerals resource rent tax, notwithstanding an international study suggesting some tweaks on the tax measures.

Australia's Treasurer Wayne Swan is not in favor of restricting banks from raising interest rates as this may lead to loan rationing that could peril the growth of local businesses.

The Australian government is urged to consider raising its current tax levels, which at present are below the international levels, the Organization for Economic Cooperation and Development (OECD) said.

Energy giant Shell was given the green light by the federal government to construct a floating liquefied natural gas (LNG) station off the northwest coast of Western Australia, which is poised to be as the world’s first floating LNG project.

Prevented by law from dipping his own fingers on the upcoming QR National Ltd asset sale, Queensland Treasurer Andrew Fraser said on Friday that he is investing instead his full confidence on the biggest float in the state since the 1997 share sale of Telstra.

Sarah Palin will have a book tour from Nov. 23 to Dec. 3 to promote American by Heart, Reflections on Family, Faith, and Flag.

As if the growing currency tension and pressing financial reforms weren’t enough for the ongoing G20 summit in South Korea, the global economic forum had a taste of a domestic spat underway between the Australian government and the country’s banking sector.

Claiming that installed rooftop solar panels and any other measures even jacked up the electricity costs of many consumers, a climate change expert advising the multi-party created by the federal government insisted that carbon price will do the best job of reducing greenhouse gas at a lower price.

Australia and New Zealand Bank (ASX:ANZ) yesterday became the first local bank to scrap its exit fee for mortgages. But this move failed to molify customers after it also lifted the interest rate on its standard variable home loans by 39 basis points to 7.8 per cent.

The Australian Competition & Consumer Commission will carefully scrutinise the proposed takeover of ASX Ltd. by Singapore Exchange Ltd.

Two of Australia's major banks, Westpac Banking Corporation and the National Australia Bank (NAB) are seen following its two competitors in implementing higher interest rates after government authorities tighten up on exit fees.

The Industry Funds Management and the Queensland Investment Corporation has acquired the Port of Brisbane for $2.3 billion, reports said.

Home loan approvals improved in September before the central bank's rate increase, but analysts are wary that this will not be sustained in the next 12 months.

Consumer confidence in Australia skidded to a five-month low as family finances became tighter due to rising mortgage fees, following the interest rate adjustments early this month.

The Australian Competition and Consumer Commission warned executives of Qantas Airlines Ltd. that it maybe criminally liable for an alleged involvement in a price-fixing cartel along with 11 other air cargo companies fined by the European Commission.

The Federal government is convinced that no necessary tweak should be forthcoming on the current budget, notwithstanding the latest Mid-Year Economic and Fiscal Outlook, in which a reduction of $10 billion in revenues was outlined by Federal Treasurer Wayne Swan in a statement on Tuesday.

The Australian economy is in superior shape and enjoys considerable lead time as against the economic status of other leading nations, according to Federal Treasurer Wayne Swan.

Bankers today called on the Federal Coalition to base criticisms on facts, not false and misleading statements.

The National Union of Workers (NUW) is joining the chorus of South Australians rallying today against the Rann Government.

Even before the culmination of its inquiry on the proposed mineral resource rent tax, the chair of the Senate Select Committee on the Scrutiny of New Taxes is convinced that the planned measure is detrimental to the Australian economy.

High-level talks between the United States and Australia will take place today as U.S. Secretary of State Hillary Clinton initiated discussions on China's monopoly of rare earths, which are used as key components in military systems.

Still smarting from the debacles he incurred during the recently-concluded US midterm elections, President Barack Obama sent Secretary of State Hillary Clinton to Australia for talks on mutual policy goals and strengthening of defence pacts.

The Federal government’s dwindling revenue forecasts based on the surging Australian dollar would eat its way on the GST allocations of states and territories, according to Queensland financial authorities.

Due recognition of Indigenous Australians in the country’s Constitution should be forthcoming and according to the federal government, the creation of an advisory expert panel is only the first step towards a much bigger goal.