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RBA Says 1% or 100 basis points

RBA Says 1% or 100 basis points

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Old Dec 2nd 2008, 2:35 am
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Default RBA Says 1% or 100 basis points

Just announced drop in cash rate
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Old Dec 2nd 2008, 2:51 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by Geelong Gent
Just announced drop in cash rate
As expected, interest on savings going to get pretty grim soon, people will want better returns, shares or property will spike again eventually.

I reckon OZ will have a bumper Christmas, Rudds handout, cheaper petrol, plastic crap and plasma TV's will be flying off the shelf
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Old Dec 2nd 2008, 3:58 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by jad n rich
As expected, interest on savings going to get pretty grim soon, people will want better returns, shares or property will spike again eventually.

I reckon OZ will have a bumper Christmas, Rudds handout, cheaper petrol, plastic crap and plasma TV's will be flying off the shelf
Westpac are the only bank so far not to pass along the full 100 basis points (they're passing along 80 basis points). Greedy buggers.
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Old Dec 2nd 2008, 5:01 am
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Default Re: RBA Says 1% or 100 basis points

I take it ANZ have passed it on then? Hope so...

Ah yes, cheaper petrol - $50 to fill up today

Not sure KRudds handout will do much, esp for those of us who have to wait until the end of the tax year..... must be plenty of people who claim annually.
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Old Dec 2nd 2008, 5:11 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by jad n rich
As expected, interest on savings going to get pretty grim soon, people will want better returns, shares or property will spike again eventually.
Yep....about time I found somewhere else for my money.

I reckon I have lost $20000 pa interest in the last few weeks

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Old Dec 2nd 2008, 5:20 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by jad n rich
As expected, interest on savings going to get pretty grim soon, people will want better returns, shares or property will spike again eventually.
I was thinking the very same.

We can't be far off the point where it's cheaper to buy than rent?
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Old Dec 2nd 2008, 9:47 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by tictac
I was thinking the very same.

We can't be far off the point where it's cheaper to buy than rent?
Almost but not quite......maybe another couple of reductions will do it!
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Old Dec 2nd 2008, 10:56 am
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Default Re: RBA Says 1% or 100 basis points

Originally Posted by jad n rich
As expected, interest on savings going to get pretty grim soon, people will want better returns, shares or property will spike again eventually.

I reckon OZ will have a bumper Christmas, Rudds handout, cheaper petrol, plastic crap and plasma TV's will be flying off the shelf
Coming from the person who gladly reported rapid inflation, and hikes, thought you would be celebrating - many Australians will be delighted their mortgages will drop(!)

I am now looking towards rental properties for the first time in ages.
Once all this bottoms, I want to fix for as long as I can..
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