RBA Raises interest rates

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Mar 2nd 2010, 3:17 am

Centurion

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RBA Raises interest rates

No surprise but it was by no means certain. 0.25% to 4% base.

More on the way this year as well.

http://www.theaustralian.com.au/busi...-1225836162622

Mar 2nd 2010, 3:49 am

ABCDiamond

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Re: RBA Raises interest rates

Heading back to normal...

During these 9 years the RBA Standard Home Mortgage variable has averaged 7.25%.
It is currently 6.9%. Only another 0.35% increase and we are at average again.

Mar 2nd 2010, 3:55 am

Amazulu

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Re: RBA Raises interest rates

Quote:

Originally Posted by Centurion

No surprise but it was by no means certain. 0.25% to 4% base.

More on the way this year as well.

http://www.theaustralian.com.au/busi...-1225836162622

Great news.

Mar 2nd 2010, 5:50 am

pomtastic

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Re: RBA Raises interest rates

Great news for me too. Saving is the new Borrowing.

Let's see what those naughty, naughty banks do with their mortgage and savings rates.

Anyway, when the Financial Crisis hits us proper in the future it will give the RBA room to move them lower again.

Mar 2nd 2010, 6:21 am

steve`o

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Re: RBA Raises interest rates

Quote:

Originally Posted by pomtastic

common wealth bank .25 on mortgages and .25 on savings from this friday
( according to my latest login news )

Mar 2nd 2010, 6:28 am

pomtastic

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Re: RBA Raises interest rates

Quote:

Originally Posted by steve`o

common wealth bank .25 on mortgages and .25 on savings from this friday
( according to my latest login news )

ANZ and Westpac have done the same, just waiting on NAB

Mar 2nd 2010, 7:09 am

Vash the Stampede

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Re: RBA Raises interest rates

5.75% on my savings account.

Mar 2nd 2010, 7:47 am

Hino

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Re: RBA Raises interest rates

Great, onwards and upwards

I can't wait to get back to getting better than 8% on my savings

Mar 2nd 2010, 8:13 am

quoll

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Re: RBA Raises interest rates

Quote:

Originally Posted by Vash the Stampede

5.75% on my savings account.

Whoa, that's a good one! Which bank gives you that much?

Mar 2nd 2010, 9:51 am

#10

ABCDiamond

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Re: RBA Raises interest rates

Bank of QLD is only

on their deposit account.

NAB is offering 6% for 7 months term deposit or 7% for 3 years.

Mar 2nd 2010, 10:00 am

#11

bcworld

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Re: RBA Raises interest rates

My Ubank (NAB) USaver was paying 5.72% before today - will have to wait and see if it rises.

Mar 8th 2010, 9:17 pm

#12

bcworld

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Re: RBA Raises interest rates

Quote:

Originally Posted by bcworld

My Ubank (NAB) USaver was paying 5.72% before today - will have to wait and see if it rises.

5.85% starting March 12th - if you pay in at least $100/month - 5.75% with no regular payment.

Mar 9th 2010, 12:43 am

#13

Hino

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Re: RBA Raises interest rates

Quote:

Originally Posted by bcworld

5.85% starting March 12th - if you pay in at least $100/month - 5.75% with no regular payment.

Hmmm... after a 25 point rise I was hoping for better. I opened an account with them a couple of weeks ago, intending to it to store my SMSF cash.

At the time their rate looked great but now it doesn't look too flash. Maybe I'll have a chat with the manager of my local CBA branch and see if he can pursuade the banks Treasury Department, to come to the party to keep my funds with them

Mar 9th 2010, 1:01 am

#14

bcworld

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Re: RBA Raises interest rates

Quote:

Originally Posted by Hino

At the time their rate looked great but now it doesn't look too flash.

It doesn't look too flash? It will be the best available rate for a no notice savings account as far as I can see. And remember, the rate doesn't include any temporary bonus interest periods...it's very transparent.

These rates are not always going to move directly in line with the RBA...otherwise everyone would be offering the same rate. You can take your business elsewhere but you'll end up moving it again when the next bank does the same thing.

CBA offered me a bonus rate of 5.75% when they saw me removing the money from my Netbank saver...however I was happy to continue my plans.