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1 month ago | 
westpac.com.au | James Thornhill |Josh Wall |Marina Gainulina |Ben Young
After spending sixty years as a nurse, Roslyn was good in a crisis. However, nothing could have prepared her for the near loss of hundreds of thousands of dollars after responding to what she believed was a legitimate email requesting payment to finalise the purchase of her new home. The Townsville grandmother had viewed numerous houses before finding one she fell in love with during a drive with her daughter.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall |Marina Gainulina |Ben Young
Customer scam losses in January were the lowest for any month in five years, showing the impact of new safety features and growing public awareness around the risks. However, scam activity remains high and the bank continues to see customers proceed with payments to scammers even when informed that the transaction they’re about to make could present risk.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall |Matthew Hassan |Liam Cormican
The Reserve Bank of Australia has cut interest rates for the first time in four years, offering much-needed relief to households struggling with cost-of-living pressures, but sounded a cautious note on the prospect of further easing. The RBA lowered the cash rate by 25 basis points to 4.10 per cent at its February board meeting.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall
Westpac will provide banking services to the government of New South Wales for a further five years under an expanded contract that cements a partnership that has endured for almost two centuries. Under the new agreement, the bank will continue to provide transaction banking, merchant acquiring and liquidity management services, alongside additional responsibilities including public transport payments and commercial cards.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall |Ben Young |Marina Gainulina
These days, more people find love online than by any other means. According to 2021 data from Statista, 3.2 million Australians are using dating apps such as Tinder, Grindr, Bumble and Hinge. But this modern-day meet-cute can swiftly morph into a nightmare thanks to a trend known as romance baiting scams. A hybrid of romance and investment fraud, these scams leave victims not only heartbroken but also financially devastated.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall |Rosie Thomas OAM |Julie Grant
This time last year, 13-year-old Mia was starting high school full of anticipation – new teachers, new friends, and a growing sense of independence. However, within weeks, her exuberance turned to dread. A cruel comment during an exchange on a messaging app snowballed into an avalanche of online ridicule for Mia. Sadly, Mia’s story is not unique. At eSafety, we see this all too often.
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2 months ago | 
westpac.com.au | James Thornhill |Josh Wall |Liam Cormican |Marina Gainulina
The pickup in consumer sentiment in the second half of 2024 has carried over into the new year, although the modest pace of improvement should give the Reserve Bank few grounds for concern on the inflation outlook. The Westpac-Melbourne Institute sentiment index rose 2.6 per cent over the three months to January to 92.1, having languished in the 80s for much of the past two years. However, it remains below the 100 level which points to there being more pessimists than optimists.
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2 months ago | 
westpac.com.au | James Thornhill |Flora C.Y. Lee |Josh Wall |Marina Gainulina
Imagine you’re a migrant recently landed in Australia. You’re excited about what opportunities this great country has in store for you. But it soon becomes clear that without local experience it’s not easy to find work, and it’s an expensive place to live too. Many new arrivals find themselves in this position – short of cash and needing to pay the bills - and that’s where scammers lie in wait ready to prey on the vulnerable.
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2 months ago | 
westpac.com.au | James Thornhill |Flora C.Y. Lee |Josh Wall |Luci Ellis
Inflation eased by more than expected in the December quarter prompting Westpac Economists to bring forward their forecast for an RBA rate cut to as soon as February. The headline consumer price index (CPI) cooled to an annual rate of 2.4 per cent, below the mid-point of the RBA’s 2-3 per cent target band, while the trimmed mean – closely watched by the RBA as a measure of underlying inflation – fell to 3.2 per cent. Both results were a shade below the forecasts of Westpac economists.
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Jan 21, 2025 | 
westpac.com.au | James Thornhill |Flora C.Y. Lee |Josh Wall |Pat Bustamante
From Coffs Harbour to Bendigo, Australia’s regions are seeing strong growth in business credit despite the prevailing economic headwinds, underlining their attraction as places to live and work. Westpac’s lending to businesses in regional areas has increased 12.4 per cent over the past two years, outpacing growth of 11.3 per cent in metro areas, according to the bank’s lending data.
