Base rate rises reach eight in a row as a further 25 basis points are added
Perhaps feelings some Christmas spirit, The Reserve Bank of Australia (RBA) has decided to only lift base rate interest by 0.25%, taking the base cash rate to 3.1%. The December meeting of the RBA cements this result as the bank’s eighth straight rate rise since it started lifting the cash rate from a record low […]
An anxious Reserve Bank feeling the vent of public anger only increases the rate by 0.25%
It appears public sentiment of not wanting to reach too deep into their pockets following two years of pandemics and the previous government cashing them up with a $1.1 trillion plus loan and deficit budgets get their message through to the Reserve Bank, to back off. And back off it did. Instead of the 0.50% […]
Reserve Bank lifts the base rate by 50 basis points to increase from 1.85 to 2.35 per cent
Each week at auctions across the country, participants are rushing to get in now before the price of property falls further and before the RBA lifts rates to a higher level not seen for over 20 years. Odd logic, but that is what’s happening. Another part of that scenario came to fruition today when the […]
Rising prices and return to work lift consumer spending in June but higher interest rates making an impact
Consumer spending measured by the CommBank HSI Index rose by a modest 0.9 per cent in June to 117.3%, while there was clear evidence of weaker discretionary spending following the recent interest rate hikes. The marginal rise in the index – which combines Commonwealth Bank of Australia (CBA) payments and lending data and Google Trends […]
Prepare for borrowing rates cracking through 10% in a new economy being set
It’s a whole new ball game for interest rate charges and while farm loans are still to take their place in this new economy, the interest rate position of banks is clear as CBA announces new interest rates for home loans. CBA has responded today to the Reserve Bank of Australia (RBA) increasing the cash […]