No Interest rate thread?

Whats going on here, no interest rate thread to bet on / predict what or if there will be a rise today, or is it just a forgone conclusion these days that the IRs are going up up up?
 
RBA Media Release

The following is positive:

Glenn Stevens said:
With the risk of serious economic contraction in Australia having passed some time ago, the Board has been adjusting the cash rate towards levels that would be consistent with interest rates to borrowers being close to the average experience over the past decade or more. The Board expects that, as a result of today’s decision, rates for most borrowers will be around average levels. This represents a significant adjustment from the very expansionary settings reached a year ago.

i.e. We're done for a while?

The board "has" been raising (past tense) to "average" levels. We're now at "average" levels for most borrowers. i.e. Were done for a while...

Cheers,
Michael
 
Damn, I was wrong. Oh well, here's hoping all these rate rises will slow down the lower end of the Melbourne market, in time for me to buy. :D

Quoted from Herald Sun website:

"It adds up. That extra cash could pay for a $259 Virgin Blue return flight from Sydney to Christchurch, an iPod touch for $244 or four months worth of morning coffees from the local café."

I read that in reverse, maybe if people didn't waste money on these gadgets, and coffees etc. they could afford to hold onto their homes and not cry 'mortgage stress'. Those daily coffees etc. sure add up if you're on an average salary paying a mortgage! :rolleyes:
 
It's pretty interesting though isn't it... after the first few rises, alot of commentary was saying that this was just a 'shot across the bow' to keep inflation steady, but it hasn't worked so far.

Interest rate is now 7.36% (well as from friday when CBA puts their rates up). In August 2008, rates peaked at 9.45%. I'm pretty new to analysing rates :) but are we that close to the heady days of pre GFC? I wouldn't have thought so, but I guess this is designed to be a little pre-emptive to prevent a bubble, rather than deal with one.
 
Damn, I was wrong. Oh well, here's hoping all these rate rises will slow down the lower end of the Melbourne market, in time for me to buy. :D

Quoted from Herald Sun website:

"It adds up. That extra cash could pay for a $259 Virgin Blue return flight from Sydney to Christchurch, an iPod touch for $244 or four months worth of morning coffees from the local café."

I read that in reverse, maybe if people didn't waste money on these gadgets, and coffees etc. they could afford to hold onto their homes and not cry 'mortgage stress'. Those daily coffees etc. sure add up if you're on an average salary paying a mortgage! :rolleyes:

Good point. If people could handle their finances and were able to realise what they NEED opposed to what they WANT then maybe less people would be 'feeling the pinch'. Most will probably still go and buy their morning coffees and just complain about the rising costs and how they don't know where their money goes, then show off their new ipod. :rolleyes:
 
why should we have to give up our standard of living to fatten the banks margins? higher interest rates prevents the ability of borrowers to reuce their debts too don't forget. and really an ipod is a trivial expense these days compared to an interest rate whack that hits you on and on, motnh after month
 
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