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