Interest rates news and advice

All the latest news on interest rates in Australia.

How does the rba rate cut impact me

How does the RBA rate cut impact me?

By now, you’ve probably heard that the Australian cash rate has hit an all-time low after the Reserve Bank of Australia brought it down to 0.10% on the 3rd of November 2020. You might be wondering how this could impact you.

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The rba has moved now how do i rate my money

The RBA has moved, now how do I rate my money?

If you read finance news around the web, you’ll know that a lower official cash rate - like our newly struck upon benchmark of 0.10% - aims to stimulate household spending and housing investment. In other words, the lower cost of borrowing money means household wealth and cash flow should increase.But not all rate cuts are equal. For example, if you backtrack to the GFC in 2008, the Reserve Bank cut the official rate from 7.25% down to just 3% in less than a year. This rather dramatic series of cuts is said to have helped Australia stay out of a recession back then, notably making home loans much cheaper. It’s not really certain however, how an already very low rate dropping to near-zero will shift our mindsets ... or our money. Ultimately if you need to borrow money right now, you should still do your homework.

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