First Rate Cut in Years – The cut continues what is becoming a tradition, with the Reserve Bank changing the cash rate on Melbourne Cup Day for the sixth year in a row. It is also the first time in a year that rates have shifted in either direction, with last year’s race tarnished by [...]
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Interest Rates are Tipped to Drop – Westpac has said it expects interest rates to drop by the end of the year and 100 basis points further in 2012. The Aussie dived more than US1c in late trade to a low of US106.29. The reversal in Westpac’s rates outlook comes as retailers battle the toughest [...]
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Interest Rates Kept on Hold Again by RBA – The Reserve Bank of Australia has voted to keep rates on hold again giving some breathing space for home owners. It’s the longest stretch of a steady cash rate in four years but analysts say the central bank will eventually need to lift rates to contain [...]
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Mortgage Exit Fees Banned – Treasurer Wayne Swan will announce today plans to ban mortgage exit fees – blamed for dampening competition by making it prohibitively expensive for customers to switch to cheaper loans – from July 1 next year. The Sunday Age believes the much-anticipated banking competition package also includes a plan to give [...]
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Australian Jobless Rate Drops – Australia’s jobless rate fell to 5.2 per cent in November, with the economy creating the most jobs since January as employers gained confidence heading towards the year’s end, according to official data released today. The seasonally adjusted rate compares with a 5.4 per cent unemployment rate in October, according to [...]
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