Tag: anz

ANZ, CBA now tipping interest rates hike in November | Inflation figures may worry Reserve Bank |…

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ANZ, CBA now tipping interest rates hike in November

Two of Australia’s big four banks on Thursday reversed their forecast for interest rates, predicting they will rise by 0.25 per cent in November.

The Australia and New Zealand Banking Group (ANZ) and Commonwealth Bank of Australia (CBA) believe Wednesday’s inflation figures will pressure the Reserve Bank of Australia (RBA) to lift the cash rate to 4.6 per cent in five weeks.

The Australia and New Zealand Banking Group (ANZ) is now forecasting a rise for interest rates in November. Supplied

If that happens, it would be the highest cash rate setting the country has seen since October 2011.

The moves come after Wednesday’s figures put inflation for the 12 months to July at 3.5 per cent, and the all-important trimmed mean – the Reserve Bank of Australia’s favoured underlying measure – at 3.6 per cent.

Inflation figures may worry Reserve Bank

Mortgage borrowers looking for interest rate relief might be disappointed by today's inflation figures.

The Bureau of Statistics data show the annual headline inflation rate dropped to 3.5 percent, down from 3.8 percent.

But the Reserve Bank's preferred measure was steady and still well outside its target.

GFX of Reserve Bank of Australia exterior laid over generic ASX images, May 19, 2025.(ABC News: Kylie Silvester)

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Fears grow for fourth rate hike after Australia sees higher-than-expected July inflation

Bureau of Statistics says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike

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Fears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected.

Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics.

That compared unfavourably to the forecast 3.3% annual rate predicted by economists leading into the result.

The Reserve Bank’s preferred underlying inflation measure, which removes the most volatile prices, had been expected to moderate but instead was stuck at 3.6%.

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August 27, 2026
ANZ recruits new CISO Sandro Bucchianeri from NAB | Sandro Bucchianeri appointed ANZ Chief Inform…

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Sandro Bucchianeri appointed ANZ Chief Information Security Officer

ANZ today announced Sandro Bucchianeri has been appointed ANZ Chief Information Security Officer (CISO), reporting to ANZ Group Chief Information Officer, Donald Patra.

Mr Bucchianeri brings more than 30 years of experience as a global security executive, including 15 years as CISO and Chief Security Officer (CSO) for multinational organisations. He joins ANZ from National Australia Bank, where he most recently held the role of Group CSO.

Prior to this, Mr Bucchianeri held senior security leadership roles at Absa Group, National Bank of Abu Dhabi, Investec and AT&T, working across South Africa, the Middle East, the United States, the United Kingdom and Australia.

NAB's CSO to move to ANZ Banking Group

NAB’s group chief security officer of over five years Sandro Bucchianeri will head for fellow ‘big four’ bank ANZ in November to lead security there.

ANZ revealed the coup in a statement on Wednesday, announcing that Bucchianeri would start as chief information security officer (CISO) on November 11.

Bucchianeri will report to ANZ Group CIO Donald Patra, who is less than a year into his role leading the bank’s technology division.

“As CISO for ANZ, Bucchianeri will be responsible for leading ANZ’s information and cyber security strategy and driving a threat-led, risk-informed approach across the enterprise,” ANZ said in a statement.

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August 27, 2026
ANZ chief urges banks to return to wealth, insurance | ANZ Eyes Wealth and Insurance Growth | Kal…

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ANZ chief urges banks to return to wealth, insurance

Australian banks should re-enter wealth management and insurance to improve their profitability, says ANZ chief executive Nuno Matos, areas they abandoned in the aftermath of the damaging banking royal commission.

Speaking at investment bank Morgan Stanley’s annual conference, Matos highlighted a steep decline in the big four’s return on capital over the past decade, which he linked to the narrower suite of services they now offer.

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June 13, 2026
ANZ faces repaying borrowers $125 million after losing class action | Happy anniversary, Nuno! Pl…

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Court rules against ANZ in class action lawsuit

ANZ has been unsuccessful in its fight in the High Court against a class action from borrowers.

The court has awarded summary judgment against the bank in relation to the Credit Contracts and Consumer Finance Act 2003 (CCCFA) class action proceedings.

Between 2015 and 2019, the law said that a lender that was in breach of its disclosure requirements had to repay borrowers all the interest and fees they were charged during the time when they were not compliant with the rules.

The class action claims that between 30 May, 2015 and 28 May, 2016, a coding error in one of ANZ's systems failed to take into account interest that had been accrued and not yet charged.

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May 5, 2026
Around 17,000 ANZ customers could receive a payout, as bank loses $125m class action | ANZ faces …

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Around 17,000 ANZ customers could receive a payout, as bank loses $125m class action

ANZ has to reimburse customers affected by the CCCFA breach all their borrowing costs for the duration of the breach. Photo / Alex Burton

ANZ customers have won a class action taken against the bank, which could cost it $125 million.

High Court Justice Geoffrey Venning has ruled some of ANZ’s lending breached the Credit Contracts and Consumer Finance Act (CCCFA) in the mid to late-2010s.

A coding error in one of ANZ’s loan
calculators saw it charge about 17,000 customers the wrong amount of interest.

While ANZ reported the issue to the Commerce Commission, and paid customers more than $35 million to rectify the mistake, the issue the court sought to clarify was whether ANZ was required to reimburse customers all the borrowing costs (including interest) they paid for the duration of the breach.

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May 5, 2026
ANZ offering $2000 to mortgage customers about to jump ship | Incredible way $6,500 quietly added…

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ANZ offering $2000 to mortgage customers about to jump ship

ANZ is offering cash payments and other sweeteners to customers on the verge of switching their mortgages to rival lenders, as a competition war erupts between the major banks.

Mortgage brokers say ANZ, which is lagging the other major banks in the home lending market, is offering borrowers retention payments – typically $2000 – once they have submitted discharge paperwork. To retain customers, the bank is also offering fee waivers and discounts on competitors’ rates of between 15 and 20 basis points.

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Incredible way $6,500 quietly added to unsuspecting couple's credit card: 'Went ballistic'

An ANZ customer is fighting to recover thousands of dollars stolen from his credit card after he discovered a fraudster had been charging fake Uber rides to his card for months. The number of Aussies falling victim to card fraud has doubled over the past decade, and customers are calling on the banks to “do better”.

Petar Ceklic has been a loyal customer of ANZ for more than 20 years and has multiple products with the bank, including his mortgage, transaction accounts and a credit card that he shares with his wife. The Perth UI/UX designer was recently checking his credit card balance when he realised he had been charged for multiple Uber trips in Sydney that his family didn’t make.

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How many ANZ shares do I need to buy for $10,000 a year in passive income?

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ANZ shares have a lengthy track record of paying two dividends a year.

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April 18, 2026
Buy, hold, sell: ANZ, Breville, and Macquarie shares | Banking Sector Insights Featuring ASX 200 …

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Buy, hold, sell: ANZ, Breville, and Macquarie shares

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April 7, 2026
Union slams ANZ over job cuts | ANZ’s Suncorp Deal Faces Job-Cut Backlash | ANZ (ANZ.AX) Stock;…

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Union slams ANZ over job cuts

Finance Sector Union (FSU) condemned ANZ’s decision to axe 66 jobs across multiple Suncorp bank divisions, including business banking and home lending.

ANZ confirmed that 197 roles at Suncorp Bank will be impacted by its changes, with 66 workers expecting to lose their jobs, with the majority of these roles being based in Brisbane.

In September statement last year, ANZ said that approximately 3,500 employees would “depart” the group by September 2026.

ANZ had made a number of commitments to the Queensland and federal governments – this included no net job losses in Australia as a direct result of the acquisition for a three-year period – concluding mid-2027.

ANZ (ANZ.AX) Stock; Drops as Aussie Banks Slide Ahead of Jobs Data

TLDRs; ANZ shares fall 1.15% as Australian banks retreat, investors focus on upcoming jobs and inflation reports. All four major lenders decline amid rate uncertainty and trade concerns weighing on financial stocks. Markets await Jan 22 labour data and Jan 28 CPI figures to gauge RBA interest rate moves. Analysts warn volatility may persist, with […] The post ANZ (ANZ.AX) Stock;…

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January 28, 2026