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they're running loose without a leash and the labor govt let them into the hen house, in fact they rolled out the red carpet and blocked anyone not on the guest list, all the while promising them a great feast inside because they were too big to starve. Now they are gorged and the treasurer wags has finger... naughty naughty you ate too much and really shouldn't have a lot of cake. yeh right....
Good afternoon all
One of the most pressing questions at this time every month is…will the RBA raise interest rates?
Whether it does or does not will be revealed next Tuesday. However notwithstanding the RBA’s decision, I believe there is a far more pressing question: will the banks raise interest rates independent of the RBA?
For what it’s worth AND it’s only my opinion, I don’t believe the RBA will raise rates next week. I’m convinced there are very good reasons not to do so including a manageable rate of inflation and reasonable unemployment numbers. However there is a much more important reason to (at least) postpone any rate rise; and that is (as the infamous John Laws once…or twice said), those folks in ‘struggle-street’ are really struggling.
I get around a bit and speak with both business people and investors AND I can tell you many are struggling to survive, let alone grow their businesses and/or investment portfolios.
Regarding the far more pressing question mentioned above, unfortunately I have a very uncomfortable ‘gut-feeling’ that the banks are about to move rates up. And this contention is gathering momentum. Commonwealth Bank CEO Ralph Norris, at its annual general meeting, highlighted the increasing costs of funding…usually a clear indication that a decision has already been made. This also signals to other financial institutions that a rate rise is in the wind.
What's your opinion?
Cheers
Garry
They did exactly the same under the Liberal govt.
Anyway, rates are up. Which means the economy is doing well. Pretty amazing considering the rest of the world (esp. Europe and North America) are seriously struggling.
Looks like the stimulus kept us afloat, and then some. And because of that we will be back in surplus in no time. Reported last week a $1 billion surplus already! Pretty amazing.
Anyway, rates are up. Which means the economy is doing well. Pretty amazing considering the rest of the world (esp. Europe and North America) are seriously struggling.
Looks like the stimulus kept us afloat, and then some. And because of that we will be back in surplus in no time. Reported last week a $1 billion surplus already! Pretty amazing.
It just shows how little respect we have in this country. Bank excuses are expensive money costs , while they make record profits !
.
The stimulus was perfect timing for Labors re election,just give it six months..willair..Looks like the stimulus kept us afloat, and then some. And because of that we will be back in surplus in no time. Reported last week a $1 billion surplus already! Pretty amazing.
Good afternoon all
One of the most pressing questions at this time every month is…will the RBA raise interest rates?
Whether it does or does not will be revealed next Tuesday. However notwithstanding the RBA’s decision, I believe there is a far more pressing question: will the banks raise interest rates independent of the RBA?
For what it’s worth AND it’s only my opinion, I don’t believe the RBA will raise rates next week. I’m convinced there are very good reasons not to do so including a manageable rate of inflation and reasonable unemployment numbers. However there is a much more important reason to (at least) postpone any rate rise; and that is (as the infamous John Laws once…or twice said), those folks in ‘struggle-street’ are really struggling.
I get around a bit and speak with both business people and investors AND I can tell you many are struggling to survive, let alone grow their businesses and/or investment portfolios.
Regarding the far more pressing question mentioned above, unfortunately I have a very uncomfortable ‘gut-feeling’ that the banks are about to move rates up. And this contention is gathering momentum. Commonwealth Bank CEO Ralph Norris, at its annual general meeting, highlighted the increasing costs of funding…usually a clear indication that a decision has already been made. This also signals to other financial institutions that a rate rise is in the wind.
What's your opinion?
Cheers
Garry
Everyone has their own idea of "Utopia",what makes you think for one second that the rates will stay where they are??..Well, now we know. I have to admit I was more than a little surprised by the RBA's move BUT not at all surprised by the banks. Maybe we can all relax for a while now that it's far less likely that further increases will occur in the immediate future.
Hopefully everyone can still afford to take some time out and enjoy the festive season. A safe and happy Christmas to all and best wishes for a fabulous 2011.
Cheers
Garry
Everyone has their own idea of "Utopia",what makes you think for one second that the rates will stay where they are??..