100 basis points RBA cut
- Thread starter plusnq
- Start date
So who says what about the next RBA meeting on NOvember 4?
Seems they'll have drop again if they use the same logic and excuses.
So who fixed since November 8, 2006?
Effective Date Change in cash rate
(Per cent) New cash rate target
(Per cent) 8 Oct 2008 -1.00 6.00 3 Sep 2008 -0.25 7.00 5 Mar 2008 +0.25 7.25 6 Feb 2008 +0.25 7.00 7 Nov 2007 +0.25 6.75 8 Aug 2007 +0.25 6.50 8 Nov 2006 +0.25 6.25 2 Aug 2006 +0.25 6.00 3 May 2006 +0.25 5.75 2 Mar 2005 +0.25 5.50 3 Dec 2003 +0.25 5.25 5 Nov 2003 +0.25 5.00
Seems they'll have drop again if they use the same logic and excuses.
So who fixed since November 8, 2006?
Effective Date Change in cash rate
(Per cent) New cash rate target
(Per cent) 8 Oct 2008 -1.00 6.00 3 Sep 2008 -0.25 7.00 5 Mar 2008 +0.25 7.25 6 Feb 2008 +0.25 7.00 7 Nov 2007 +0.25 6.75 8 Aug 2007 +0.25 6.50 8 Nov 2006 +0.25 6.25 2 Aug 2006 +0.25 6.00 3 May 2006 +0.25 5.75 2 Mar 2005 +0.25 5.50 3 Dec 2003 +0.25 5.25 5 Nov 2003 +0.25 5.00
i predict a .25% or .5% in november. il put my credibility out there...
in the US they dropped their pants, whoops i mean rates in jan/feb like twice a week in these 75-150 BP per session to inflate their economy. we arent in dire position, but still aint good... i never belive we will hit total recession, but things will be shakey and turbulent for the coming 12-18 months. its a flow on effect from retail trade etc.
in the US they dropped their pants, whoops i mean rates in jan/feb like twice a week in these 75-150 BP per session to inflate their economy. we arent in dire position, but still aint good... i never belive we will hit total recession, but things will be shakey and turbulent for the coming 12-18 months. its a flow on effect from retail trade etc.
GOD i am SO GLAD my fears were unfounded.
if the CBA pass on 0.8% i am well inside my IR buffer allowed for.
i'm watching all the markets VERY VERY CLOSELY now - if the sharemarket gets hammered either that money will be injected into housing and house prices will rise or everyone will park their moolah in cash or gold.
lucky my house is nearing completion....time to pull some of my 35% equity and get bizzae.
if the CBA pass on 0.8% i am well inside my IR buffer allowed for.
i'm watching all the markets VERY VERY CLOSELY now - if the sharemarket gets hammered either that money will be injected into housing and house prices will rise or everyone will park their moolah in cash or gold.
lucky my house is nearing completion....time to pull some of my 35% equity and get bizzae.
$700 Billion didn't change perception in the US. What makes you sure that 1% will make a difference to the perception of those in AU?
Personally I think this will be a welcome relief to mortgage holders on variable rates, but I can't see it single handedly turning around the housing market sentiment as some in the thread have suggested.
Good to see everyone sooo excited
I wonder if good old Mac bank will drop there IR
the generous knobs will probably only give 0.25% cut
Before todays RBA cut l have heard a few people saying
"i think l might buy an ip, bricks and mortar looks a lot safer than the share market these days"
I reckon its going to be a quessing game as to whats gonna happen in the next 6 months.
cheers yadreamin
I wonder if good old Mac bank will drop there IR
the generous knobs will probably only give 0.25% cut
Before todays RBA cut l have heard a few people saying
"i think l might buy an ip, bricks and mortar looks a lot safer than the share market these days"
I reckon its going to be a quessing game as to whats gonna happen in the next 6 months.
cheers yadreamin
I just got home and heard the news.
Well, A few of you know the battle I've been fighting. I hope my elation isn't premature. Time will tell, but also time to have a beer!
I am suprised at the .8% drop by the banks so far. I thought instantly it would only be .5%. it shows how well the banks are doing. Koshy seems to think our banks are in a very strong position.
I still think USA is heading for a major recession. I was also told they have stopped foreign borrowing/buying of property today?
I also think now more than ever is the time to buy property in AUS if you're in the position to do it. What nonrecourse says is interesting and food for thought.
regards JO
Well, A few of you know the battle I've been fighting. I hope my elation isn't premature. Time will tell, but also time to have a beer!
I am suprised at the .8% drop by the banks so far. I thought instantly it would only be .5%. it shows how well the banks are doing. Koshy seems to think our banks are in a very strong position.
I still think USA is heading for a major recession. I was also told they have stopped foreign borrowing/buying of property today?
I also think now more than ever is the time to buy property in AUS if you're in the position to do it. What nonrecourse says is interesting and food for thought.
regards JO
I hope my elation isn't premature. Time will tell, but also time to have a beer!
Well too much beer always has the effect of lessening the chance of premature elation!
Well too much beer always has the effect of lessening the chance of premature elation!
he he he....I was waiting for it.......
regards JO
It may make first home buyers and those holding off entering the market, take the plunge and start a medium term up-cycle. Those with high LVR's though may need to treaed cautiously as credit is drying up.
Our situation is different to the US, as aside from their fiscal mess, they had an over-supply of housing and we have an under-supply. Also I believe they had a larger proprotion of sub-prime (no/lo-doc) loans. With an over supply of doors and higher rates hitting them after the honeymoon period, negative equity ensued.
You are right however that this will take some pressure off those in Aus with variable rate mortgages and that is what may cause sentiment to shift, hopefully it will be in a responsible manner and not, as I alluded to earlier, for the purpose of toys and trinketts.
Im currently in the process of getting a home loan with the CBA. Im not sure which one too chose. There is the economiser or theres the wealth package but i wouldnt really use any of the other products besides personal loan and home loan so i dont think it would be worth my while. Anyone have any suggestions? Im a first home buyer but its for an investment.
Was glad to here they cut it by 0.8%. Very happy indeed.
Was glad to here they cut it by 0.8%. Very happy indeed.
Yes, perception is the key
People's perceptions of their future income levels & job security willl be far more powerful compared to the few dollars saved on their mortgage or on a prospective mortgage.
A few more big IR reductions like today, will help however.
But I doubt there will be any material impact on the property market in the "busy" end of the year for sales/auctions (in Melbourne at least)
People's perceptions of their future income levels & job security willl be far more powerful compared to the few dollars saved on their mortgage or on a prospective mortgage.
A few more big IR reductions like today, will help however.
But I doubt there will be any material impact on the property market in the "busy" end of the year for sales/auctions (in Melbourne at least)
And people's perceptions about the security of their positions will be lifted by the IR cut.
Tash
Assuming over 250...
IMO 3 year economiser is a cheapie and a basic loan. not too great after 3 years.
the mav package is better w/their variable but the offset they offer is inflexible
Not talking lending policy here but products.
Would you all stop being so damn happy, I would like at least another 1.5% drop over the next 12 months before I fix rates.
Any more jocularity and I'm sending some GHPC's over
After spending an hour yesterday reading their personal attacks I did think of Josko after I heard the news. I hope you make a bloody fortune. Living well will be the best revenge. Heres to having a beer for you tonight.
No way in hell am I making a prediction on November rates yet.
Sentiment in this market changes quicker than melbourne's weather.
Those headlines in tomorrow's paper will be nice.
Jeez I've learnt a lot in the last 48 hours.
Any more jocularity and I'm sending some GHPC's over
After spending an hour yesterday reading their personal attacks I did think of Josko after I heard the news. I hope you make a bloody fortune. Living well will be the best revenge. Heres to having a beer for you tonight.
No way in hell am I making a prediction on November rates yet.
Sentiment in this market changes quicker than melbourne's weather.
Those headlines in tomorrow's paper will be nice.
Jeez I've learnt a lot in the last 48 hours.
Well too much beer always has the effect of lessening the chance of premature elation!
Though always better to have a bottle in front of me than a frontal lobotomy
