Pot, I see you've met Mr Kettle.
RBA dropped 25 basis points
- Thread starter james_w
- Start date
Pot, I see you've met Mr Kettle.
Still no big 4 decisions....must be waiting for ANZ to go first...is it their turn...?
I havent seen the roster for awhile...
Actually as part of the new BASEL III requirements the banks will have to buy more Government bonds rather than borrow from the Government.
Also if we raised the Government debt ceiling and the banks borrowed a lot from the Government then the Government credit rating would be downgraded and their cost of borrowing would increase and the Aussie dollar would probably weaken, then our deficit might increase
Still no big 4 decisions....must be waiting for ANZ to go first...is it their turn...?
I havent seen the roster for awhile...
Yes second Friday of the month is rate review day.
http://www.heraldsun.com.au/business/anz-wary-of-very-fragile-markets-says-banking-cheif-phil-chronican/story-fn7j19iv-1226386766856
"In the first comments from one of the major banks since the Reserve Bank cut the official cash rate this week, Mr Chronican said markets were more uncertain than a few months ago.
He declined to directly address whether the bank would pass on to customers the quarter of a percentage-point cut to the cash rate.
But Mr Chronican said ANZ was not under pressure and deposits had grown strongly in recent months.
He was speaking ahead of the meeting tomorrow of ANZ's monetary committee, where the bank will carry out its monthly review on interest rates.
"It (the state of the markets) is a little more uncertain that it was two months ago," he said. "But we took the opportunity to get ahead of the curve on our funding program, so we are not too worried. But the longer these things go on, the more it causes concern.""
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k
thats it
there is no way you can be a banker ...................
too black and white, no case by case
ta
rolf
The CBA have had a 90 day offer starting about a week ago of 3 years at 5.99 so no change there. They have 2 years at 5.79 but I'm not sure if the 90 day scenario applies to their 1,2 or 5 year fixed rates. It seems like the CBA are trying to say 'this is as low as we're going' in an attempt to bring forward it's customers decisions on fixing.
I'm currently enjoying 4.25 fixed for 3 years in a country experiencing growth, stability and oil wealth so Australia's high rates with high asset prices makes little sense to me?
I will be on 5.80 variable with the CBA after the rate cut so if your LVR is ok, press them.
I'm currently enjoying 4.25 fixed for 3 years in a country experiencing growth, stability and oil wealth so Australia's high rates with high asset prices makes little sense to me?
I will be on 5.80 variable with the CBA after the rate cut so if your LVR is ok, press them.
I would say that the housing market is about to take off in Australia again. ANZ have dropped rates as they know it's their last chance to look like nice guys before rates start to climb again and as many people enter the market to buy homes they want to look the most attractive banking option. OK that is just my theory, we will see....
