This week in banking - The RBA keeps the cash rate steady

We look at the big news and latest offers to reach our desk in this week’s banking recap.

The RBA holds off on cash rate cut

On Tuesday afternoon, the RBA announced it would keep the cash rate unchanged for another month, despite growing expectations it would cut. This marks the 30th month in a row that the cash rate has stayed at 1.50%, the lowest it’s ever been.

But if popular sentiment is anything to go by, the next rate cut is just around the corner. Most analysts and commentators expect the board to make a move by August at the latest, and once more by the end of the year. Following reports of a slowing economy and weaker-than-expected inflation figures, it’s only a matter of time before they have to bite the bullet.

Bankwest shines in travel money awards

This week we announced the winners of the 2019 Mozo Experts Choice Travel Money Awards, and for the third time in a row, Bankwest was named our provider of the year. With multiple wins across eight categories, its range of cards should be on every traveller’s radar.

As Mozo Data Manager Peter Marshall put it, “We only give out Mozo Experts Choice Awards to the top 10% of products in each category and there’s competitive products entering the market all the time. That Bankwest continues to stand out with their range of travel cards is pretty impressive.”

IMT award winners unveiled

Along with our travel money card awards, we also rolled out our Mozo Experts Choice International Money Transfer Awards. Of all the IMT services we analysed, TranferWise and CurrencyFair were the top two performers, while Citi was crowned IMT Bank of 2019. 

$50 Myer gift card available to new World First customers

And if you’re looking to transfer some money overseas, IMT specialist World First has announced a great offer for new customers. If you sign up and make a transfer of AUD $5,000 or more by the end of the month, you’ll receive a $50 Myer gift card. Act soon and you could have your Mothers Day present all lined up.

And if you’re eager to check out the other IMT options out there, head over to our international money transfer comparison page for a look at what’s available.

Travel credit card comparisons on Mozo

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Last updated 21 July 2024Advertiser disclosure
  • Apply By 3 September 2024
    American Express Qantas Ultimate Card

    Earn up to 90,000 bonus Qantas Points* That’s 70,000 bonus Qantas Points when you apply online by 3rd September 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. Plus, an additional 20,000 bonus Qantas Points in your second year upon fee renewal. Annual Card fee is $450. T&Cs apply. New Amex Card Members only.

    purchase rate
    annual fee
    balance transfer rate
    23.99% p.a.
    $450
    No current offer
    Details
  • American Express Velocity Platinum Card

    Receive 60,000 bonus Velocity Points when you apply online, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.

    purchase rate
    annual fee
    balance transfer rate
    23.99% p.a.
    $375
    No current offer
    Details
  • American Express Qantas Discovery Card

    Earn 1.75 Qantas Points on eligible Qantas products and services per $1 spent (T&Cs apply). Enjoy $0 Annual Card Fee. Get the security of Card Refund and Purchase Cover. Up to four additional Cards at no extra fee. Redeem your points for Classic Flight Rewards (T&Cs apply).

    purchase rate
    annual fee
    balance transfer rate
    23.99% p.a.
    $0
    No current offer
    Details
  • Apply By 31 July 2024
    Westpac Altitude Platinum

    Select Qantas Frequent Flyer rewards to receive 70,000 bonus Qantas Points ($4k min. spend in the first 90 days on eligible purchases). $99 First Year Annual fee and Rewards fee. (T&C's apply).

    purchase rate
    annual fee
    balance transfer rate
    20.99% p.a.
    $250 $99 in the first year
    No current offer
  • NAB Qantas Rewards Signature Card

    Earn up to 120,000 Bonus Qantas Points on a new NAB Qantas Signature Card. Min $3,000 spend on everyday purchases in first 60 days and keep your card open for 12 months.

    purchase rate
    annual fee
    balance transfer rate
    20.99% p.a.
    $395 $295 in the first year
    0% p.a. for 12 months and then 21.74% p.a. (3.00% balance transfer fee)

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.