The Reserve Bank of Australia announced today the Official Cash Rate will be reduced by 0.25% p.a. (25 bp).
This is the 2nd official reduction in Interest Rates in 2 months and will be a great Christmas gift for the many Australian households who continue to be challenged by the current economic climate. Read more
Rate Cuts
Interest Rates Reduced!
RBA Interest Rate Announcement
How much of the Rate Cut did your Bank pass on ???
The Reserve Bank of Australia announced today the Official Cash Rate will be reduced by 0.25% p.a. (25 bp). Read more
Small Qld Lender Shame’s the Big Banks
Latest Interest Rate Cuts !!!
A small Queensland based lender (Heritage Building Society) has shamed the Big Banks by passing on the full 0.25% p.a. Interest Rate cut announced by the RBA last Tuesday (6/4/2009). The Big Banks have declared that they cannot afford to do the same, despite their multi-billion dollar profits, and choose to hide behind the excuse that the “Costs of Funds” have prevented them from passing on the 0.25% p.a. rate cut. Yet this was accomplished by their much smaller competitor – Heritage Building Society – who’s profits are tiny in comparison. Read more
Interest Rates reduced by 1%p.a.
The Reserve Bank of Australia announced yet another massive interest rate reduction of 1% p.a.
The 6 Major Banks were quick to adhere to the governments request to pass on the full interest rate reduction to borrowers. Although Westpac & ANZ were expected to provide a larger rate reduction than their competitors as they have yet to pass on the full interest rate cut announced in December 2008. Read more
RBA Slashes Interest Rates by 1% p.a.
Early Christmas Gift from the Reserve Bank
The Reserve Bank was happy to provide extra Christmas cheer by slashing the official Cash Rate by a massive 1% p.a. Read more
RBA reduce Interest Rates by 0.75% p.a.
Reserve Bank slashes interest rates by 0.75% p.a.
30 minutes prior to the running of the Melbourne Cup The Reserve Bank of Australia announced a 0.75% p.a. reduction in the official cash rate.
Many lending institutions have have resisted passing on the entire0.75%p.a. rate cut stating “the high costs of funds” as their reasoning despite having announced only 2 weeks ago that the cost of funds had reduced sufficiently to pass on the balance of the previous RBA interest rate reduction. The Federal Treasurer (Wayne Swan) has confirmed that he will continue to pressure the lenders to pass on the maximum savings to borrowers. Read more
RBA Cuts Interest Rates by 1% p.a.
The Reserve Bank announced today a 100 basis point (1% p.a.)cut to the official cash rate.
The Federal Treasurer (Wayne Swan) has warned borrowers not to expect the Banks to pass on the full 1% p.a. interest rate cut due to the increase in the “Cost of Funds” on the international markets.
Westpac, CBA, ANZ and NAB have reacted swiftly to the RBA’s decision announcing the banks would pass on a 0.80% p.a. interest rate cut to their customers, whilst Rams has trumped the banks by announcing Rams customers would receive a 0.90% p.a. interest rate cut. Read more
RBA reduces interest rates by 0.25% p.a.
RBA reduced Interest Rates by 0.25% p.a.
Tuesday 2nd September 2008 – The Reserve Bank announced a 0.25%p.a. reduction in the official cash rate. This is the first official interest rate reduction in 7 years & is a welcomed respite from the current high cost of living .
Several Banks / Lenders have acted quickly to confirm that they will reduce their Home Loan Interest Rates by up to 0.30%p.a. Read more
