Interest rates news and advice

All the latest news on interest rates in Australia.

  • November financial wrap up

    Friday 01 December 2017

    November wrap final original

    With just one month left until the new year ticks over and even less until Santa climbs down the chimney, Aussies might have taken their eyes off the big headlines to come from November. But fear not, we’ve wrapped up the month’s money must-knows, bow and all, so that you can head into, what is sure to be a busy December, financially prepared.

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  • October financial wrap up

    Wednesday 01 November 2017

    October wrap up final original

    There’s under two months to Christmas and boy can we tell. Headlining this month’s financial news was a couple of big credit card launches as the banks make a play for your business before the festive season, a host of banking innovations to keep the tech heads happy and of course, energy news as we head into our warmest months.

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  • UBS says: one in three Aussies don’t understand their interest-only home loan

    Friday 06 October 2017

    Interest only confused original

    When you think about the terms and conditions on your mortgage, do you draw a blank? You’re not alone. According to UBS analysts, 1 in 3 Aussies don’t understand their interest-only home loan, unintentionally placing themselves in “substantial” stress once the repayment amount rises. 

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  • Cherry picking on the rise as Aussies search out cheaper bank fees and more competitive interest rates

    Tuesday 03 October 2017

    Cherry picking final original

    According to the Australian Bankers’ Association Chief Executive, Anna Bligh almost two-thirds of Australians have accounts at more than one bank, suggesting that people are shopping around to find the best deals and the right products for their needs.

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  • September financial wrap up

    Friday 29 September 2017

    September financial wrap final original

    September signalled the start of spring and rather predictably, property news was at the forefront of the month’s financial news. That aside, there was a bunch of consumer-facing news that hit the headlines, Mozo launched its Experts Choice awards for insurance and despite the warmer weather, energy continued to be a contentious topic.

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  • 5 signs you might be a banking nomad

    Tuesday 05 September 2017

    5 signs you re a banking nomad final original

    Experimentational, adventurous and keen to shop around for the most competitive interest rates, are you one of Australia’s newest breed of banking consumers?

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  • August financial wrap up

    Friday 01 September 2017

    August wrap up final original

    Our final winter month saw many of the money trends of the season continue with savings interest rates continuing to slide, energy expenses taking centre stage and property price talk ramping up with spring selling season upon us.

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  • July’s financial wrap up

    Wednesday 02 August 2017

    Money graph growing original

    A lot happened in the first month of the new financial year. Our coldest month reignited the energy price debate, the property market continued to prove problematic and we welcomed a new era of banking.

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  • Interest rate cuts 'may not happen this year'

    Tuesday 13 November 2012

    Interest rate cuts may not happen this year mini

    Many Aussies were bitterly disappointed when the Reserve Bank of Australia (RBA) decided not to lower interest rates earlier this month and it seems unlikely that any reductions will be seen until the new year. Economists had suggested that despite its reluctance to trim the cash rate from its current level of 3.25 per cent, the central bank still had plenty of room to make a readjustment next month if it saw fit. However, the RBA has since revised up its inflation forecasts, which makes a December rates cut far less likely. It now believes consumer price index (CPI) inflation will reach 3.25 per cent by mid-2013, which is higher than the RBA's target of between two and three per cent. The RBA uses the cash rate to keep the CPI within its preferred boundaries over time. HSBC chief economist Paul Bloxham said: "With the impact of the high exchange rate starting to wear off on inflation, that might leave them less room to move on rates." This will come as a huge blow for mortgage holders and people with business and personal loans, but not so much for Aussies with high-interest savings accounts and term deposits. The last round of interest rate cuts came in October, when the RBA trimmed the cash rate by 25 points. It has slashed rates by 1.5 per cent since November 2011, but the nation's banks and lenders have not been as generous. Banking chiefs have cited high borrowing costs as the main reason for their reluctance to pass on the RBA's cuts in full. Take last month for example. None of the "big four" – Westpac, Commonwealth Bank, ANZ and National Australia Bank – reduced the rates on their mortgages by the full amount advised by the RBA. Some experts believe the central bank's power has been diluted of late and Aussie lenders are increasingly doing as they please. It will be intriguing to see if the RBA's board members do sanction any further changes when they meet again at the start of December. Have a question about interest rates? Ask the money gurus at Mozo Answers.

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  • ANZ confirms rates will remain unchanged

    Friday 09 November 2012

    Anz confirms rates will remain unchanged mini

    Bosses at ANZ have confirmed today (November 9th) that the interest rates attached to the company's standard variable rate mortgages will remain unchanged. It announced the rate will stay at 6.6 per cent, while the comparison rate will not drop from 6.7 per cent. A statement from the organisation read: "Despite intense competition for business deposits, variable small business lending rates will also remain unchanged." Few people will be surprised by this move, as the Reserve Bank of Australia (RBA) opted not to slash the national cash rate when board members met earlier this week. The central bank felt there had been a big enough improvement in the state of the global economy to justify keeping things as they are. Although the cash rate stands at 3.25 per cent – its lowest point for three years – many experts still feel further reductions are needed to stimulate activity in the property sector and to encourage greater levels of public spending. Have a question about interest rates? Ask the money gurus at Mozo Answers.

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