澳洲新闻 (ABC新闻快递) 2011-05-07（打印版）

A Senate inquiry has recommended a range of reforms to boost competition in the banking sector. The inquiry was launched in the wake of the financial downturn amid public anger that major banks were raising interest rates beyond the official level. The report recommends a broader independent inquiry into the financial system. It's also calling for a review of the ban on mortgage exit fees and more transparency on bank profit and interest margins. Banks, credit unions and building societies have largely welcomed the findings.

The chances of an interest rate rise in June have increased following the Reserve Bank's latest assessment of the economy. In its quarterly statement on monetary policy, the RBA has upgraded its inflation forecasts. It now expects underlying inflation to hit 3 per cent, which is the top of its target range, by the end of this year. Westpac's chief economist Bill Evans says the Reserve Bank clearly feels it's time for another rate rise.

To the market numbers, and local stocks ended the week on a loss. The All Ords index and the ASX200 shed about one third of a per cent. The miners came under selling pressure after commodity prices slumped. BHP Billiton lost 2 per cent, but financials and airlines finished the session stronger. Across the region, it was also a negative session. Japan's Nikkei lost more than 1 per cent. In the United States, the Dow Jones and S&P500 finished trading higher. And the Aussie dollar is hovering around 107 US cents.

澳洲新闻 (ABC新闻快递) 2011-05-07（在线收听）