The Reserve Bank has increased interest rates...
Nov 3rd 2010, 10:23 pm
#46
BE Forum Addict
Joined: Nov 2004
Posts: 2,584
Re: The Reserve Bank has increased interest rates...
Not confusing. It just shows that he is completely out of his depth and devoid of all original thought.
Nov 4th 2010, 1:32 am
#47
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Joined: Mar 2009
Location: SE suburbs,Vic
Posts: 828
Re: The Reserve Bank has increased interest rates...
The Reserve Bank has increased interest rates...
Try Try... you can never drop Melbourne house prices
Try Try... you can never drop Melbourne house prices
Nov 4th 2010, 1:45 am
#48
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Joined: Mar 2009
Posts: 1,230
Re: The Reserve Bank has increased interest rates...
Its days like this I'm happy I rent
Nov 4th 2010, 1:48 am
#49
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Nov 4th 2010, 1:54 am
#50
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: The Reserve Bank has increased interest rates...
I'd stick with the CBA, with its lower rates if I was you.
Even with only a 0.25% rise the ANZ and Westpac, who are not copping any flac, are higher than the CBA, who appears to be the devil for playing catchup.
The standard variable interest rate on mortgages offered by the big four banks currently stands at:
Even with only a 0.25% rise the ANZ and Westpac, who are not copping any flac, are higher than the CBA, who appears to be the devil for playing catchup.
The standard variable interest rate on mortgages offered by the big four banks currently stands at:
- 7.51 per cent at Westpac
- 7.41 per cent at ANZ
- 7.36 per cent at CBA
- 7.24 per cent at NAB
Perhaps the government should be worried more about the outrageous cost of living increases in terms of electricity, rates and food in the last 3 years and the prospect of them doubling within 5 years thanks to policies intended to implemented.
But then, evil bankers are an easy smoke screen to direct the ire of the public and make the new "sheriff" in town look good for telling them off. Sigh.
Nov 4th 2010, 4:42 am
#51
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: The Reserve Bank has increased interest rates...
Utterly bored by today's news trying to brand Aussie banks as evil for daring to make a profit. As you rightly show, there is nothing between them. Was only a year or so ago we were proud that our banking system was so robust and the envy of the world making profits when the rest of the worlds banks were homeless and selling the big issue.
Perhaps the government should be worried more about the outrageous cost of living increases in terms of electricity, rates and food in the last 3 years and the prospect of them doubling within 5 years thanks to policies intended to implemented.
But then, evil bankers are an easy smoke screen to direct the ire of the public and make the new "sheriff" in town look good for telling them off. Sigh.
Perhaps the government should be worried more about the outrageous cost of living increases in terms of electricity, rates and food in the last 3 years and the prospect of them doubling within 5 years thanks to policies intended to implemented.
But then, evil bankers are an easy smoke screen to direct the ire of the public and make the new "sheriff" in town look good for telling them off. Sigh.
Nov 4th 2010, 5:35 am
#52
Forum Regular
Joined: Apr 2009
Posts: 252
Re: The Reserve Bank has increased interest rates...
Utterly bored by today's news trying to brand Aussie banks as evil for daring to make a profit. As you rightly show, there is nothing between them. Was only a year or so ago we were proud that our banking system was so robust and the envy of the world making profits when the rest of the worlds banks were homeless and selling the big issue.
Perhaps the government should be worried more about the outrageous cost of living increases in terms of electricity, rates and food in the last 3 years and the prospect of them doubling within 5 years thanks to policies intended to implemented.
But then, evil bankers are an easy smoke screen to direct the ire of the public and make the new "sheriff" in town look good for telling them off. Sigh.
Perhaps the government should be worried more about the outrageous cost of living increases in terms of electricity, rates and food in the last 3 years and the prospect of them doubling within 5 years thanks to policies intended to implemented.
But then, evil bankers are an easy smoke screen to direct the ire of the public and make the new "sheriff" in town look good for telling them off. Sigh.
The banks may be making nice money now but they know very well that the easy-credit business model of the last few years is bust and their future prosperity is far from guaranteed. Thats whats behind the increased spreads on mortgages (which you also see in the US and UK for example).
Nov 4th 2010, 5:52 am
#53
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Joined: Sep 2009
Posts: 708
Re: The Reserve Bank has increased interest rates...
I would hope most informed observers would know that the banks are not the pillar of strength they were made out to be - only a deposit guarantee and wholesale funding guarantee at the height of the GFC saved them from total collapse. Thats called a bail-out in other countries.
The banks may be making nice money now but they know very well that the easy-credit business model of the last few years is bust and their future prosperity is far from guaranteed. Thats whats behind the increased spreads on mortgages (which you also see in the US and UK for example).
The banks may be making nice money now but they know very well that the easy-credit business model of the last few years is bust and their future prosperity is far from guaranteed. Thats whats behind the increased spreads on mortgages (which you also see in the US and UK for example).
Nov 4th 2010, 11:13 am
#54
Guest
Posts: n/a
Re: The Reserve Bank has increased interest rates...
The standard variable interest rate on mortgages offered by the big four banks currently stands at:
7.51 per cent at Westpac
7.41 per cent at ANZ
7.36 per cent at CBA
7.24 per cent at NAB
7.51 per cent at Westpac
7.41 per cent at ANZ
7.36 per cent at CBA
7.24 per cent at NAB
Nov 4th 2010, 11:21 am
#55
Guest
Posts: n/a
Re: The Reserve Bank has increased interest rates...
I would hope most informed observers would know that the banks are not the pillar of strength they were made out to be - only a deposit guarantee and wholesale funding guarantee at the height of the GFC saved them from total collapse. Thats called a bail-out in other countries
Here in Australia, no money was needed, but the guarantee was given purely to shore up confidence due to the overseas problems. The government knew that it would not be called on to bail the banks out.
No one has said that the Australian banks would have a total collapse if it wasn't there.
How much did the US government give to the US banks ? 700 billion dollars ?
How much did the Australian Government give to Australian Banks ?
Nov 4th 2010, 12:41 pm
#56
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: The Reserve Bank has increased interest rates...
I'd stick with the CBA, with its lower rates if I was you.
Even with only a 0.25% rise the ANZ and Westpac, who are not copping any flac, are higher than the CBA, who appears to be the devil for playing catchup.
The standard variable interest rate on mortgages offered by the big four banks currently stands at:
Even with only a 0.25% rise the ANZ and Westpac, who are not copping any flac, are higher than the CBA, who appears to be the devil for playing catchup.
The standard variable interest rate on mortgages offered by the big four banks currently stands at:
- 7.51 per cent at Westpac
- 7.41 per cent at ANZ
- 7.36 per cent at CBA
- 7.24 per cent at NAB
*When saying 'us', I mean those who do well working in Australia - I am not claiming that I am on a CEO package....
Nov 4th 2010, 12:45 pm
#57
BE Forum Addict
Joined: Sep 2007
Location: Ferny Grove
Posts: 1,496
Re: The Reserve Bank has increased interest rates...
In some areas electricity infrastructure needing a massive amount of investment to be able to avoid power cuts - that has to be paid for somehow. And now we're paying for it. Unfortunate, but true. In some areas anyway.
