Rates stay on hold at 4.75 per cent

Mortgage holders can breathe easy for a few more weeks after the central bank left the cash rate steady at 4.75 per cent at its monthly board meeting.

Monthly BNZ confidence survey

Each month BNZ publishes a confidence survey. This month it has found a further rise in sentiment about where the economy will be in a year’s time – this time to a record level of a net 57% positive from 42% in May. However although in some sectors such as agriculture sentiment is overwhelmingly positive, and others like accountancy and non-residential real estate are improving, the overall tone of anecdotes submitted remains very cautious.

At its meeting today, the RBA decided to leave the cash rate unchanged at 4.75 per cent

Statement by Glenn Stevens, Governor on the Monetary Policy Decision follows.

Australand's Linc Taps Sydney Residential Demand

Australand today announced it has sold 102 of the 126 apartments available 'off the plan' at Linc the next building being developed at Australand's mixed use Discovery Point development in Sydney's inner southern suburbs. Over 80% of the total sales result was achieved within 24 hours of release.

Lend Lease wins $1.02 billion in new work

Constructor and property developer Lend Lease Group says it has won two pieces of work worth a total of more than $1 billion. 

Lenders Loosen Belt On Mortgage Criteria

Many financial institutions have begun to loosen the criteria they use to lend for home loans, following a new study of loan-to-value ratios by Australia's financial comparison website RateCity 

Case for rate rise not yet compelling

Interest rates are expected to remain on hold as the Reserve Bank of Australia (RBA) holds its first board meeting since the federal budget.

Sydney's Job Growth Stifled In Vain Hope Of Shifting Office Jobs To Suburban Centres

The Keneally Government was advised, just one month before the election, that its plan to shift office jobs to Liverpool, Penrith and Hurstville wouldn't work, according to the Urban Taskforce.

Funding boost to buy flood-prone Qld homes

NZ dollar kept under US81.80c

The New Zealand dollar dipped against the greenback after data showing a sharp slowdown in job creation in the United States, but then rebounded although it has since been unable to push above US81.80c.