cup day rate cut

[Token Funder]

Don't you get tired of being wrong all the time?

Nope. Enjoy being right most of the time

That said, I still think it's the wrong move. Unlike some, I actually see the Australian domestic economy to be in fundamentally good shape. The greater concern is the global position medium term and I would prefer the RBA to have more ammunition up their sleeve rather than less should it be needed.

I'm not sure more happy pills are required ATM.

Obviously the Board disagrees

 

[BayView]

Could there by the ole Aussie Tall Poppy Syndrome somewhere in that statement??

I think most of us are happy....lighten up and have a few drinks...isn't it a holiday over in Vic??...or haven't you had enough drinks yet??

40 mins until grog-o'clock.

Sorry; I don't take to reporting figures on this site. It's not necessary, and to me; makes the whole thing a "look at me" gangbang.

There are some around who could buy and sell all of us combined and never mention anything about zeros on the end.

I might say that I'm bloody happy they have cut rates (assuming the banks pass it on); we are doing it tough currently.

 

[sash]

Well actually it is going down the sh.i.tter faster than you think!

Firms have stopped hiring people....I am not saying it is armegeddon out there yet....but it is concerning. Having said that 2013 should see an uptick!

The move by the RBA is the right one.....they were late by 1-2 months...but better now than never! I guess the rest of the RBA board did not want to wait for the divine intervention 2 members of the board wanted.

I also think they might cut again in Dec. to psuh things along and see what happens in Jan. and Feb. What what I know...I got rate cut wrong I said Sep/Oct instead of Nov!


Better take that Prozac..otherwise it will be the Bizzarro world you talk about in your handle.

Nope. Enjoy being right most of the time

That said, I still think it's the wrong move. Unlike some, I actually see the Australian domestic economy to be in fundamentally good shape. The greater concern is the global position medium term and I would prefer the RBA to have more ammunition up their sleeve rather than less should it be needed.

I'm not sure more happy pills are required ATM.

Obviously the Board disagrees

 

[wobbycarly]

"This rate cut will save me" (insert dollar amount here................... for p.iss.in' contest).

This rate cut will actually save me a gazillion dollars, but I didn't want to let the green-eyed monster out.

 

[Sheryn]

Unless using my calculator is affected by post melbourne cup drinking

Got to watch all pillars of wealth building here as currently we are not value adding on anything.

Neutral to negative result here....

Only have 300K not offset .25% decrease in IP leads to an increase of $250 x 3 = $750 - tax.

SMSF term deposits have gone down from 6.2% to 5.6% [-.06%] for 6 months (or thereabouts) so that is $600 x 2 = $1200 - tax.

Have not been able to increase rents atm on 3 out of 4 properties.

So I reckon our return on property vs term deposits has gone down.

Won't happen next year as we will be travelling but I need to change our wealth creation strategy to reflect what is happening atm with our money and increase returns.


Sheryn

 

[Dan_p]

I hope ANZ pass this on, will save me $2,500 per year and will put another one of my properties into positive gear mode

I just said that.

 

[superbird]

bankwest have also announced that they are passing on the full rate cut www.twitter.com/bankwest

 

[Dan_p]

"This rate cut will save me" (insert dollar amount here................... for p.iss.in' contest).

Its hardly a pi ssing contest to see who is in the most debt

 

[ems]

Any news on whether ANZ or NAB will pass the full cut on??

 

[Dazz]

That's good news.

Wee free zone here.

 

[Bigtone]

Any news on whether ANZ or NAB will pass the full cut on??

they will all pass on the full amount.

they have already given back to anyone who asks far more than what they took in nov 2010.

good news for most people

 

[quattro4]

Hi Bigtone,

I have a few loans with ANZ, may i ask what you mean by that statement?

Thanks in advance.

Quattro

 

[Rolf Latham]

Hi Q4

i think (?) what BT is saying is that while rates went u by x +RBA rise in nov 2010, the negotiated discounts available since then have more than clawed back that over RBA increase.


But, you had to ask for it

ta

rolf

 

[delfredo]

nab could continue with their Break Up campaign by slashing rate by more than the RBA rate cut. They will be the last of the Big 4 to make an announcement of their decision. Otherwise I find no reason for them not to announce on the same day. WBC's lead is gaining them customer confidence and trust over other banks.

 

[davidw89]

Hey guys, what is your variable rate that your getting from the bank. I'm with Westpac, borrowed 750k, negotiated 6.85% with a $400 yearly fee. It is now 6.825 thanks to rate cut. Do you guys reckon I could negotiate a better deal?

 

[delfredo]

nab 6.82% borrowings of <$600K.

 

[Dazz]

I'm with Westpac, borrowed 750k, negotiated 6.85% with a $400 yearly fee. It is now 6.825 thanks to rate cut. Do you guys reckon I could negotiate a better deal?

I reckon you need to check your figures.

 

[grubar30]

Westpac, Commonwealth Bank, Bank of Queensland and ME Bank have all announced thus far that they will pass on the full rate cut.

This is thanks to the mortgage exit fee ban....and what a powerful reform it is.

 

[propertynwbie]

Any news on whether ANZ or NAB will pass the full cut on??

ANZ cuts rates by 25 basis points

http://www.canberratimes.com.au/new...s-by-25-basis-points/2344385.aspx?storypage=2

 

[propertynwbie]

ANZ cuts rates by 25 basis points

http://www.canberratimes.com.au/new...s-by-25-basis-points/2344385.aspx?storypage=2

now waiting for Ubank and NAB for their decision