Sooty and Sweep

http://www.rba.gov.au/

6.75% If you have a mortgage or loan?

Will the savers in OZ feel the benefit of this rise? Great if you have a little nest egg?

Which banks are notorious for passing and/or not passing on this rise in the base rate?

Seems strange they are lifting the base rate when inflation is only 1.9% in OZ?

Here in the UK, inflation is alot higher, but they are talking about cutting rates? Baffles me!


My 100th Post

@boy

The RBA bases its decision to raise the cash rate on the underlying inflation (core inflation) rate, which currently has come in at 3%, the upper limit of 2 to 3% preferred band it uses.

The 1.9% figure you refer to is headline inflation, which Petey Costello likes to crow about as it 'looks' better.

You will find this article useful....
For the truest reading of inflationary pressure, look at the underlying rate
http://www.theage.com.au/news/busine...941339735.html

additionally, the trend for the underlying inflation rate in the UK has been DOWN over the last 12 months, hence why the talk of cutting rates there.
ref http://www.moneyextra.com/dictionary...ry-003663.html