What is shrinkflation?
Shrinkflation is the practice of shrinking the size of consumer products while maintaining the price.
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Shrinkflation is the practice of shrinking the size of consumer products while maintaining the price.
Official interest rates, also known as the cash rate, have been the source of countless news stories in recent years, with each movement generating plenty of chatter about the state of the economy, monetary policy, and the general direction it’s all heading.
When shopping for a home loan, you’ve probably noticed something called a comparison rate sitting beside the interest rate. But what is the difference between the two? Why is the comparison rate important?
The Reserve Bank of Australia has held interest rates steady for two months in a row. Inflation has slowed meaningfully enough for the central bank to wait and see for now, which is great news for those struggling under the weight of rate hikes.
Rainy day funds are essential, and earning interest is a fantastic and easy way to give them a boost. But how do the banks calculate your interest payments?
When you take out a loan, whether it’s a car loan, home loan or amount on a credit card, you’ll have to pay back both the amount you borrowed and interest on top of it. But what do we mean by that?
There are a lot of things you need to research and consider before making any kind of financial decision. One of those is your interest rate.
Good question. An interest rate is a fee you're charged for borrowing money, expressed as a percentage of the total amount of the loan.
The flip side of variable interest rates, fixed interest rates are one of the two main types of interest you’ll come across when choosing a loan or bank account.
Mozo has compiled this handy guide to give you the rundown on the facts, features, pros and cons of variable interest rates.
With the end of the year fast approaching, the retail banking landscape is showing no signs of slowing down. This week, NAB cut its variable rates and revised its forecast, while term deposit providers continue to vie for the top spot and Bankwest stopped accepting new personal loan applications. A new green loan offering more options for eco-conscious ING mortgage holders was launched, and Mozo announced the winners of its Energy Awards, including Australia’s Best Green Electricity Provider.
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This week was another big week in personal finance, as the Reserve Bank of Australia (RBA) met for their second last meeting of 2024. Despite a cash rate hold, banks have continued to shift rates, fees and rewards offers on the Mozo database.
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Welcome back to Mozo Money Moves, your weekly finance wrap which dives into the latest pricing changes in the Australian retail banking landscape.
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This week’s bumper edition covers the continuation of cuts to term deposits and home loan fixed rates across the Mozo database, as lenders grow more optimistic about the future of interest rates.
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