RBA Slashes Interest Rates
What a great early Christmas present! The RBA (Reserve Bank of Australia) has yet again slashed interest rates by 1.00%.
The 1.00% cut now takes the cash interest rates to 4.25% – the lowest since May 2002.
The reasons behind this are the worrying banking sector, the just released inflation rates for November, as well as the general fall in confidence.
It is highly expected that other rate cuts will occur in February and June 2009. If the cash rate is cut to 4.00% by the middle of next year this will be the lowest level since October 1972.
The pressure will be on the main banks to pass this down to their lenders. The question now is how much will they pass on?
The Interest Rate Cut is really good news for investors and homeowners, and another great boost to the Property Market.
Happy Investing with lower interest rates!
Filed Under: Interest Rates
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