I'll give you the $ back Less processing fees. You should see my banking hours. 10am- 10:15am Tea break/smoko from 10am till 10:15am
Does anyone speak German? I found this PDF with current deposit rates and i can't seem to see any negative rates. https://www.commerzbank.de/portal/media/efw-dokumente/preisaushang.pdf
Correct-not negative rates only 0%. We are(in Australia) far better off-only 0.01% on some accounts....
Also something worth a thought. If inflation is running at say -1.5% and a bank charges you -0.5%. Are you getting a negative rate or positive 1%?
Meine Deutsche ist scheisse. But this bit talks about "custody charges" on amounts over 100 000 EUR for a deposit account and 250 000 Euro for something else I don't understand. Seems that they're passing on the cost of holding deposits in the coffers of the ECB to customers, in fact some banks have been charging customers since 2014, long before the EU introduced a negative cash rate. https://www.reuters.com/article/us-germany-banks-idUSKCN10N0WV
Yeh sounds like the Reserve Vault, but they let you get all of your stuff back (as long as you pay your safety deposit box fees) and you ring in advance and request a time to visit. And you're accompanied by two burly bald headed ex-biker types (could be ex-roadies) dressed in black to ensure the integrity of the facility remains in place. I've never met you but I reckon you'd fit the bill.
The intelligent thing to do would be to apply some critical thinking yourself. These guys are bankers, not rocket scientists and they are working from the same playbook. It is not difficult to extrapolate from policy that we have seen come from that playbook elsewhere. Australia is not special and it's not that different to other places. Our debt is a bit lower and our economy is a bit stronger and we have handled Covid a bit better too....so we are lagging the global policy trend, that is all.
Lol. Now that sounds like the same argument I heard on this forum around 10 years ago when members were echoing the views of their favourite hand-wringing "experts", you know the ones - paranoid survivalists or the self-serving precious metals pushers, predicting the crash of the Australian property market because property markets in the US, Ireland, the UK, Belgium etc etc etc etc etc etc in fact across most of the world crashed and we're not that different to those countries are we? Now how did that turn out? Let me think...... Mmmmmm....... Oh that's right! It was a shite call. Forum members who believed the "hand wringers" who were waiting to enter the market delayed their purchase, whilst those who held RE sold and piled their wealth into silver, with both then watching the market run away from them, experiencing what we call in economics, a real-life lesson on opportunity cost. Exactly.
Nice one. Your counter-argument is to equate my comment with something other people said 10 years ago, before I even joined the forum. You even have a graph! How could I possibly argue with that
@BuggedOut, I guess it could be like the old saying about the cause of the American Civil War - which I couldn't be bothered repeating, you can research that one yourself. We won't get negative rates just because other countries have negative rates, we'll get negative rates because other countries have negative rates.
I did!! And you avoided the charge. As Einstein explained, time is relative. And yep, you're argument is not that different.
https://www.reuters.com/article/australia-economy-rates-int-idUSKBN27J0AQ Australia central bank cuts rates to near zero, ramps up bond buying SYDNEY (Reuters) - Australia’s central bank trimmed interest rates to near zero on Tuesday and ramped up its bond-buying plans in a much-needed salve to aid economic recovery from the country’s worst downturn in a generation. The Reserve Bank of Australia (RBA) said it would buy A$100 billion ($70.4 billion) of government bonds with maturities of around five to 10 years over the next six months, a more aggressive pace than some had expected. The RBA also cut its target for three-year bond yields to 0.1%, from 0.25%, to align with the cash rate, which, it pledged will remain unchanged for at least three years. -- With Tuesday’s easing, the RBA was also now running low on rate ammunition. Lowe emphasised the RBA could and would buy more bonds if needed, though he argued a move to negative interest rates was “extraordinarily unlikely”. “The RBA has now hit the bottom of the barrel in terms of conventional interest rate cuts, but as other major central banks have shown, there is still plenty it can do in terms of ongoing quantitative easing,” said AMP Chief Economist Shane Oliver. ------ https://www.theguardian.com/austral...shes-cash-rate-historic-low-australia-economy Lowe said the dire state of the Australian economy meant people should not expect the cash rate to go up again for three years. He committed the RBA to the “national priority” of growing jobs and wages, promising to wade into the bond market at an even larger scale if necessary. “The reserve bank is not out of firepower,” he said. “If we need to do more, we can and we will.” -- Lowe said by the end of the buying program the RBA would own about 15% of government bonds on issue but, he noted, other central banks owned far more. He said “the proper functioning” of the bond market was the only constraint on the RBA’s ability to buy bonds. “We can effectively create money by crediting the bank accounts they have with us, and we can effectively do that without limit,” he said. Lowe said the bank board “views addressing the high rate of unemployment as an important national priority”.
lol Lowe is an idiot. Their understand of the words "functioning" & "constraint" is inconsistent with every dictionary.
no RBA cuts passed to customers...noice! https://au.news.yahoo.com/cba-cuts-fixed-home-loan-business-rates-224036896--spt.html
Apparently the cash rate and bond markets are meant to "function" in a manner that "constrains" interest rate volatility. The bond market is also a nice little gravy train for banks.