Place your bets. RBA meets today.
- Thread starter bruxism
- Start date
85% of them were within 0.25% ... so i'd say near 85% know their stuff.
Big warning there guys - the RBA is saying "we have given it a good kick now we are going to sit back and watch for awhile".
I'm the same as you... standard variable rate is 6.74%, professional package/discount of 0.7% makes it 6.04... not sure why the others are paying the extra 0.02%!
Yeah baby! CBA customer here
And the message this says is the risk I saw of the Banks "agreeing"
to work as group and hand us crumbs has fallen over to good old market competition.Now we simply have the wait the 4 weeks (I expect ) for them to reset the computer.
All good, Peter 14.7
WOW rates of 6.04%. last time we had this is was middle 2003 and the top of the last boom in Sydney.
As RBA saying we are sitting pat now, I read this as more, dont expect special meeting in January. We are all at the beach
Saves me $140 a week. Petrol under $1. Work still flat out. God Bless the USA
.Peter 14.7
Bloody great news!
Im saving a shedload on repayments, 1 of my properties purchased 4 months ago has just turned CF neutral and the one to settle has dropped a few thousand a year, you beauty.
Im saving a shedload on repayments, 1 of my properties purchased 4 months ago has just turned CF neutral and the one to settle has dropped a few thousand a year, you beauty.
For me the most important extract in the RBA media release was this:
...the Board judged that a further significant reduction in the cash rate was warranted now, to take monetary policy to an expansionary setting.
In their mind they've gone beyond nuetral to expansionary (as in, they have gone to the point that they feel monetary policy that supports economic growth).
Barring any further major deteroriation in financial markets or even worse than expected economic data (I doubt that a slight recession is unexpected), then I would expect future moves will be + or - 25 bps from now on (as history has shown the RBA likes to do).
...the Board judged that a further significant reduction in the cash rate was warranted now, to take monetary policy to an expansionary setting.
In their mind they've gone beyond nuetral to expansionary (as in, they have gone to the point that they feel monetary policy that supports economic growth).
Barring any further major deteroriation in financial markets or even worse than expected economic data (I doubt that a slight recession is unexpected), then I would expect future moves will be + or - 25 bps from now on (as history has shown the RBA likes to do).
At the end of the day Id say everyone's purely guessing.
i agree ...
... but very happy they've just knocked another $270 off my weekly interest bill! that's equal to the rent from one of the ip's freed up.
just have to sit and wait for ANZ now to over analyse everything for 3 weeks before they decide to drop their rates by however much it will be and then do it without telling anyone...
grrrrrrrrrrrrrrrrrr
grrrrrrrrrrrrrrrrrr
CBA is 1% and from the 12th
1% and within 10 days. Which Bank?!?!?! Could it be they are actually going back to providing service???
Or does the Cynic in me think the IT staff are on leave from Friday the 12th so it got rushed. Nooooo too cruel
Peter
1% and within 10 days. Which Bank?!?!?! Could it be they are actually going back to providing service???
Or does the Cynic in me think the IT staff are on leave from Friday the 12th so it got rushed. Nooooo too cruel
Peter
Who cares, at 4.25% we are now expansionary. I wouldnt be surprised to see a future decease in 2009 of only 0.5% (two 0.25% discounts).
And at 4.25% my portfolio is massively cash flow postive (it was positve at the start of 2007 when interest rates were 2% higher than now).
Just posted in another thread. ANZ are apparently dropping their rates by 0.83%. Not sure when they intend to do this though.
Regards
Marty
thanks Marty - will be interesting to see...
wonder if that is for their fixed rates too??
wonder if that is for their fixed rates too??
I's suggest investors lock in these rates for as long as you can get them...Once the doom & gloom spook has disappeared Im sure the RBA will be jacking up IR to combat the high CPI. Would be a good idea to lock far enough to ride through this period.
Mine settles 19th Dec at the same rate! OHH yeah, now lets hope we can get the IR to 4.5% and then locky locky
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