The Reserve Bank of Australia has left interest rates on hold at a record low of 0.1 per cent. But its promise of the cash rate staying still for three years is under threat as house prices overheat.
ASIC sues REST Super for misleading conduct
Mar 2, 2021 – 5.34pm
Share
The corporate watchdog has accused the $60 billion REST Super of misleading and deceptive conduct, alleging the industry superannuation fund tried to stop members transferring their savings to a better performing fund.
The Australian Securities and Investments Commission civil case, filed in the Federal Court on Tuesday, alleges REST gained a benefit from the deceptive activity over a decade by retaining members who would have otherwise left, which subsidised fees for other members and increased the size of the fund.
Retail workers are most affected by the alleged misleading behaviour at the REST super fund.
Share this article
LONDON, NEW YORK and SYDNEY, March 1, 2021 /PRNewswire/ Commonwealth Bank of Australia (
CBA ) announced today that it has commenced two concurrent, but separate cash tender offers for any and all of the outstanding notes (the
Notes ) of the series listed in the table below. The tender offers are being made pursuant to an offer to purchase dated March 2, 2021 and an accompanying notice of guaranteed delivery, which set out a more complete description of the terms and conditions of the tender offers, including the determination of the cash purchase price for each series of Notes. Holders of the Notes are urged to read the offer to purchase and the accompanying notice of guaranteed delivery carefully before making any decisions with respect to the tender offers.
The Reserve Bank canât walk and chew gum at the same time
Weâre sorry, this service is currently unavailable. Please try again later.
Dismiss
March 2, 2021 â 1.55pm
March 2, 2021 â 1.55pm
Save
Normal text size
Advertisement
The Reserve Bank has made it clear what its priorities are for the next three years or more. They donât include trying to subdue what looks like the initial stages of another housing market boom.
The biggest one-month increase in house prices for nearly two decades in February, a surge in mortgage lending and economist predictions of double-digit rises in house prices in Melbourne and Sydney over the next two years prompted discussion this week about the probability of a RBA intervention.