Interest Rate Speculation  - Despite press speculation, the chances that the RBA Board will increase the Official Cash Rate at its August meeting are quite remote.

National Credit Code - With effect from 1 July, stage one of the new National Credit Code came into force. The effects of the new code are far reaching and over time will affect the way that all non corporate credit transactions are conducted.

In Stage 1 the major impact will be the licensing of finance and mortgage brokers, and the additional protection of borrowers for consumer transactions other than credit cards and similar transactions. Investment loans and some business related transactions will now come under the Act