Will the RBA cut interest rates next week?
The Reserve Bank’s next meeting is less than a week away, and the board will have a lot to mull over. In particular, the latest round of jobs data must have RBA Governor Philip Lowe reeling. After dropping to 5.1% in December, seasonally-adjusted unemployment shot back up to 5.3% in January.
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Read MoreHow low will official interest rates go? (and what comes next?)
After 30 months of inactivity, the RBA decided to cut the cash rate three times last year, and is poised to pull the trigger again in 2020. But just how low will official interest rates go? Back in 2012, the cash rate was 4.25%, and the average savings account would have given you around 3.94% p.a. in interest. That’s a far cry from today’s rates. Right now, the cash rate sits at 0.75%, and the average savings rate is a paltry 0.97% p.a.
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Read MoreThis week in banking news - No RBA cut, UBank’s Accessibility Kit, credit reporting changes, and the ‘tap and go’ trap.
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Read MoreThis week in banking news - lunchbox savings, green homes, the first home loans deposit scheme and travel insurance pitfalls
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Read MoreWill the RBA cut interest rates in February?
The Reserve Bank’s February meeting is just around the corner, and while it seemed like a pretty fine-balanced decision for a few days, the chances we’ll see the cash rate cut to 0.50% have dropped significantly.
Read MoreThis week in banking news - MOVE Bank cuts home loan rates, Judo Bank, long weekend road trip and personal loans
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Read MoreThis week in banking news - savings, green home loans, Xinja and Insta-worthy travel spots
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