The big banks have passed on between 80 and 88 per cent of the two rounds of RBA rate cuts
At the margin, NAB's standard variable home loan is the cheapest at 4.92 per cent, ANZ and CBA slide in right behind at 4.93, with Westpac the outlier at 4.98pc. Over the course of the two cuts CBA and NAB have been the most generous to mortgage holders, passing on 88 per cent and keeping 12 per cent for themselves.
Its a great time to attack your morgage.......We must get more and more private investment though. Presently massive government spending can not go it alone forever. Socialist economics only end in disaster.
It means the government have royally fucked up an economy that relies on an unsustainable property market to keep it going. People have been living off their equity loans for the past decade and with values tanking by 20% there’s nothing left to spend.
Bsck in 2013 the then Shadow Treasurer Joe Hockey says the Reserve Bank's decision to cut the interest rate shows the economy is struggling and has been mismanaged by the Government. I wonder if he feels the same?
Painting this rate cut as any thing other than a complete disaster for the economy is about all you'd expect from a mainstream propaganda outlet. Remember when 3% was deemed an 'emergency' cut?
┳┻| ┻┳| ┳┻| _ ┻┳| •.•) ┳┻|⊂ﾉ ┻┳ psst..I think I know what it means for me: The government tanked the economy & got voted back in. They now have mandate to wreck it even more. Which is what they’ll do. Australia, you voted for it. interestrates auspol
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank of Australia tipped to cut interest rates to one per centOn Monday it predicted there was a 23 per cent chance of no change and a 77 per cent chance that rates woul...
Source: 9NewsAUS - 🏆 10. / 72 Read more »
NAB, CBA, and Westpac hold back some of RBA interest rate cutCBA and NAB argue the decision fairly balances the needs home loan and deposit customers. clancyyeates Finallysome good publicity for ANZ clancyyeates Advert. clancyyeates They’re still filthy grubs that learned nothing from a Royal Commision. How bout passing the previous rate cut on in full?
Source: smh - 🏆 6. / 80 Read more »
RBA governor Lowe says interest rate cut alone won't helpReserve Bank Governor Philip Lowe has again called on government to pull its weight after the central bank cut the cash rate for the second month in a row. This guy late last year was predicting rates to be higher this year. cooked liamfraser15 You bet lower rates won’t help. It’s way too late. This is the recession we need to have let’s hope it’s not a depression. We need another government handout, that will solve everything.
Source: SBSNews - 🏆 3. / 89 Read more »
Interest rates at 1pc may be new for Australia, but not overseasOne per cent may be uncharted territory for Australia, but it still fairly high in a world awash with negative rates. The fact rates are still going down is a big worry, writes Stephen Letts. RBA proof economy has stalled & recession is a REAL threat Australians dont need a 100 billion time bomb in 5 years. Money for 2024/5 high end taxcuts should be redirected to low/mid incomes for economic stimulus now. LNP will plunge economy to recession to believe own propaganda As money leaves bank accounts and floods into the stock market it artificially inflates the value of shares...when the crash comes everyone’s super will crash along with it So ?
Source: abcnews - 🏆 5. / 83 Read more »
Interest rates slashed to record low 1 per centThe RBA is trying to boost the economy enough to drive down unemployment and lift wages with the first back-to-back cut in interest rates since 2012. Masterful management of the economy by ScottMorrisonMP 💥Breaking LiberalAus 'government' denies reality. Business as usual. auspol auspol2019 LNP = FRAUD yes because the economy is doing so well ....what a joke ! the RBA must be thinking we can’t fix this mess !
Source: smh - 🏆 6. / 80 Read more »
RBA poised to make historic interest rate decisionToday the Reserve Bank meets to decide whether or not to cut the cash rate to a new historic low of 1 per cent. Front and centre on the Reserve Bank Governor's mind will be whether or not Australia's unemployment rate is likely to improve in the coming year. To cut or not to cut...
Source: abcnews - 🏆 5. / 83 Read more »