Interest Rates Just Cut To 1%

Discussion in 'Currencies' started by ozcopper, Jul 2, 2019.

  1. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    15,911
    Likes Received:
    1,734
    Trophy Points:
    113
    Location:
    Australia
    Interest Rates Just Cut To 1% Official Cash Rate.
     
    Mr Sixer likes this.
  2. boneyard

    boneyard Well-Known Member Silver Stacker

    Joined:
    Jul 10, 2009
    Messages:
    6,258
    Likes Received:
    234
    Trophy Points:
    63
    Location:
    55G 528505 5257160 TASSIE
    How long before they go into the negative like a lot of other counties.

    I remember in the Keating days of 18% interest.................
     
  3. l***g

    l***g Active Member Silver Stacker

    Joined:
    Jun 20, 2014
    Messages:
    451
    Likes Received:
    157
    Trophy Points:
    43
    Location:
    a blue sunday
  4. ddevil

    ddevil Member Silver Stacker

    Joined:
    Jul 22, 2011
    Messages:
    54
    Likes Received:
    17
    Trophy Points:
    8
    Location:
    Melbourne
    Let's see if the banks pass on the full cut
     
  5. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,741
    Likes Received:
    748
    Trophy Points:
    113
    Location:
    Sydney
    Peoples appetite for credit must be really drying up, RBA looks very scared. Ponzi systems don't work very well when credit contracts. Ozzie QE by Christmas?
     
  6. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    5,740
    Likes Received:
    564
    Trophy Points:
    113
    They will ... for depositors.
     
    Ag bullet likes this.
  7. ddevil

    ddevil Member Silver Stacker

    Joined:
    Jul 22, 2011
    Messages:
    54
    Likes Received:
    17
    Trophy Points:
    8
    Location:
    Melbourne
    ANZ have just announced that they will pass on the full 0.25% cut for borrowers
     
  8. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    1,758
    Likes Received:
    1,457
    Trophy Points:
    113
    Location:
    Oz
    That'll make Gov Lowe "Bad Santa".:eek:
     
  9. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2010
    Messages:
    6,966
    Likes Received:
    1,390
    Trophy Points:
    113
    Location:
    House Corrino
    I wish I knew where else I could put all of my savings where it could do something other then enriching the banks shareholders while doing nothing for me.
     
  10. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,741
    Likes Received:
    748
    Trophy Points:
    113
    Location:
    Sydney
    Interesting that I'm getting 1.8% on my normal savings account with CBA considering they can borrow at the RBA for only 1.25% atm.
     
  11. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    5,740
    Likes Received:
    564
    Trophy Points:
    113
    The pension deeming rate is 3.25%.
     
  12. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    1,758
    Likes Received:
    1,457
    Trophy Points:
    113
    Location:
    Oz
    With 1.90% inflation, real negative interest rates are here for many.
     
  13. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    15,911
    Likes Received:
    1,734
    Trophy Points:
    113
    Location:
    Australia
    And I don't believe inflation is only 1.9%....
     
    willrocks and leo25 like this.
  14. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    1,758
    Likes Received:
    1,457
    Trophy Points:
    113
    Location:
    Oz
    Your right;). I should have been more specific......The Govt's official (bastardised inflation rate). If they had kept property in the inflation calculation, the real inflation would have been higher and I suspect well over the RBA's 2-3% target band, thus higher interest rates which probably would have kept a lid on property prices.

    ABC new article: https://www.abc.net.au/news/2017-04-20/inflation-data-suffers-from-exclusion-of-housing/8457718
     
  15. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,741
    Likes Received:
    748
    Trophy Points:
    113
    Location:
    Sydney
    The meat i buy has gone up almost 20% in the last 5 years. More or less the same for anything of high quality.
     
    Last edited: Jul 2, 2019
  16. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,741
    Likes Received:
    748
    Trophy Points:
    113
    Location:
    Sydney
    Shaddam IV likes this.
  17. mrsilverservice

    mrsilverservice Well-Known Member

    Joined:
    Feb 10, 2019
    Messages:
    671
    Likes Received:
    286
    Trophy Points:
    63
    Location:
    North of Tasmania
    and they are talking another .25% cut next month :confused:

    I hate to admit it but I do agree with Labor about bringing the tax cuts forward,but just think even for just one second that Labor were in the lodge :eek: falling tax revenue and 600,000 electric cars + + & + o_O





    The Book of Romans Chapter 10 v 9

    that if you confess with your mouth the Lord Jesus and believe in your heart that God has raised Him from the dead,you will be saved :)
     
  18. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    1,758
    Likes Received:
    1,457
    Trophy Points:
    113
    Location:
    Oz
  19. Ag bullet

    Ag bullet Well-Known Member

    Joined:
    Dec 27, 2013
    Messages:
    808
    Likes Received:
    308
    Trophy Points:
    63
    Location:
    SE QLD
    alcohol stacking is for amateurs. soy latte's and coffee cups is where it's at. when SHTF those hippsters will still need their morning latte to function and look cool.
     
  20. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,741
    Likes Received:
    748
    Trophy Points:
    113
    Location:
    Sydney
    Some words from Treasurer Josh Frydenberg (aka potato head)

    link

    There you go, all is fine. ScoMo will still achieve his surplus as there is no need for government spending.
     
    Last edited: Jul 2, 2019

Share This Page