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The Australian economy is showing good bounce as it starts to move out of its COVID-affected recession.

The federal government is looking at extending best interest duty to all credit assistance providers, not just mortgage brokers.

Smaller lenders have been quick to immediately pass on the RBA’s interest rate cut to customers but the big four weren’t so trigger-happy.

The Reserve Bank has gone all-in on propping up the economy by cutting the official cash rate to 0.1 per cent – the lowest it has ever been in Australia.

The Reserve Bank says Australia has already started to exit its recession and the lockdowns in Victoria haven’t affected the national economy as much as first feared.