cup day rate cut

I think i have to agree with Sash on this, and I think he is pointing to the fact that the Hillsong church is structured to be a commercial operation. From an outside perspective, I feel Hillsong gauges success on profitability (and networking for its members) and not on faith.

Would it be the same if we were talking about Scientology? Would the fact the RBA Chief was a scientologiest be relevant or not? I think it would be highly relevant!
 
Ditto...exactly what I was infering to!

If the current RBA does not pull the lever.....it might be pretty hard to being things from the brink as there is no RBA meeting in Jan. And a cut in Dec. ...might not help change the gloom and doom psyche at the moment.

Cutting now would go a long way to change the psyche in time for Xmas sales...if the cut was 0.5%....it would help a lot more! ;)

As for me regardless....I am researching some fantastic opportunities which are only available time like now!

jacbmw said:
I think i have to agree with Sash on this, and I think he is pointing to the fact that the Hillsong church is structured to be a commercial operation. From an outside perspective, I feel Hillsong gauges success on profitability (and networking for its members) and not on faith.

Would it be the same if we were talking about Scientology? Would the fact the RBA Chief was a scientologiest be relevant or not? I think it would be highly relevant!
Click to expand...
 
My feeling is "no cut".

Things are not desparate enough for the RBA to justify a cut as the economy is chugging along (albeit rather slowly). Methinks they would like to keep their power dry for if/when needed depending on the outcome of the G20.

Might be a cut December.
 
jacbmw said:
I think i have to agree with Sash on this, and I think he is pointing to the fact that the Hillsong church is structured to be a commercial operation. From an outside perspective, I feel Hillsong gauges success on profitability (and networking for its members) and not on faith.

Would it be the same if we were talking about Scientology? Would the fact the RBA Chief was a scientologiest be relevant or not? I think it would be highly relevant!
Click to expand...

I dont think being a scientologist would be very relevant either, unless it affected his work performance.
I dont think Hillsong is a commercial operation... it does run commercial operations, the same as the Catholic and Salvation Army church, but in order to get tax exempt status, it has to be "not for profit".
I dont attend the church, but from a Christian perspective, it is doing some fantastic work, and definitely is a strong faith based church. They obviously have a strong focus on financial success, but I personally dont have a problem with that. They do alot of work amongst poor people, and in the Hills District, they bring a lot of business to the local shop keepers.

But even if it were a commercial operation, you would have to admit, from a purely commercial viewpoint, that it is extremely successful. So, I still dont see what the problem is and how that relates to his performance of the RBA.

But I dont want to discuss it further here, cause I'm concerned that the thread will end up deteriorating into a fruitless discussion
 
I'm investing my own money, not OP's so I don't particularly want a cut.

Increasingly my money is off-shore anyway so I'm a spectator. My unbiased opinion is "no cut".

Just thought: A cut would be good for me. The A$ might drop so my loonies will increase. :D
 
I don't think it matters now whether they cut the rates a little bit or hold. Don't forget that a year ago banks increased their rates above the RBA rise. The RBA decision at the time just took some political heat off the banks. Now banks are lowering fixed rates.
Consumer sentiment is in the doldrums for a while yet.
 
My prediction is twofold ;

  • A rate cut of 25 basis points from the RBA in Nov.
  • A rate hike of 10 basis points from the Banks.

This will result in the usual three outcomes ;

1. Wayne Swan will be out the front of the media moaning that the Banks aren't playing the game.

2. The Banks will derive larger profits.

3. The apathetic public will pay up.


Tell me that doesn't ring a few bells....
 
Might be different this time particulary for the NAB....they have built their practice on being so called fair campaign.....if they do not pass it on.....people could punish them. They have the crappiest service among the Big 4....so things are on knife edge....also this time credit growth is a biy slugglish so they will focus on retention.

If the Big 4 do pass on less ....more people will look at credit unions like Newcastle Permanent which offers a 5.99% rate fixed for 1-3 years!

Dazz said:
My prediction is twofold ;

  • A rate cut of 25 basis points from the RBA in Nov.
  • A rate hike of 10 basis points from the Banks.

This will result in the usual three outcomes ;

1. Wayne Swan will be out the front of the media moaning that the Banks aren't playing the game.

2. The Banks will derive larger profits.

3. The apathetic public will pay up.


Tell me that doesn't ring a few bells....
Click to expand...
 
If the reserve bank does cut interest rates (with the news with Qantas they now have even more reasons, with the potential effect that will have on the national economy) the banks will cut interest rates by at least 25 basis points.

Look at the fixed rates that are on offer at the moment, there is less demand for borrowings at the moment which means more competation and if the banks do not pass at least the full interest rate cut, there will be huge public presure to regulate the banks more regarding setting of interest rates.
 
This time I think there will be a rate cut before the year is out. Unemployment rate is rising and I do not think that it will refect well on the RBA to cut only when it is already surging. I have a feeling that this Christmas retail sales will not give much cheer to the retail sector and it seems that tourism sector is already suffering with the Qantas flight disruptions. Inflation too has been tamed and revised basis of calculation of the CPI by ABS showed that it has been overstated. Letting the mining sector to take up the slack in investments caused by the downturn in the manufacturing sector due to the high exchange rate unfortunately will not fully offset the attendant unemployment.

So, my vote is that the RBA has cogent reason to opt for a tiny 25 point cut in November.
 
No cut this year for mine. The threat of rate rises has improved the savings appetite of the average punter and with 12 months of stability I'm no sure a rate drop would lead to any change in spending habits.

I suspect the RBA might prefer to keep their powder dry to deal with real trouble rather than the overwrought whinging of retailers we've been subject to the last year or so.
 
Token Funder said:
Spoken like a typical shopping centre landlord overcharging retailers having locked them in to leases with nasty terms....:rolleyes:
Click to expand...

:) :) Ooooh I know.....you should have seen the poor dears shaking and quibbling as we held a gun to their temple whilst signing the documentation.

After signing, we gave all the little Tenants some fairy bread and Fanta and sent them on their way.....

None of them had a clue what they just agreed to.... :rolleyes:
 
Token Funder said:
Spoken like a typical shopping centre landlord overcharging retailers having locked them in to leases with nasty terms....:rolleyes:
Click to expand...

haha...TF, you obviously haven't read the Commercial Tenancy (Retail Shops) Agreements Act 1985. The contents of this particluar piece of legislation is nasty only to one of the parties (and it aint the tenant)

Boods
 
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