The National Australia Bank and the Commonwealth Bank are the first of the Big Four banks to reduce their standard variable interest rates following Tuesday’s official rate cut by the Reserve Bank, with both failing to pass on the full amount.
We’re obsessed with interest rates in Australia, keeping a keen eye on RBA decisions and subsequent reactions from lenders. But just what’s going on with rates at the moment? MYOB’s Kristy Sheppard explains…
Two consecutive interest rate cuts have failed to boost post-Christmas consumer sentiment, a result economists have called “disappointing.” But slowing inflation means businesses may benefit from more rate cuts in the months to come.
An “unacceptable number” of payment system outages over the past 12 months has led the Reserve Bank of Australia’s (RBA) payment arm to warn the industry to boost innovation and stability or face regulatory intervention.
Inflation fell 0.1 percent in August after rising 0.3 percent in July, with sliding prices of fruit and vegetables more than offsetting price rises for private motoring, furniture and furnishings, and household services.
The Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.75 percent during its meeting in Sydney today; citing slow growth of the global economy and continued economic volatility in Europe and the US as drivers behind its decision.
The Reserve Bank of Australia (RBA) has decided to hold interest rates at 4.75 percent, leaving the official cash rate at the same level it’s sat at since November 2010, when the RBA last increased it by 0.25 percent.
The Commonwealth Bank of Australia has increased interest rates its range of home loan products by 0.45 percent, almost double the official interest rate rise from the Reserve Bank of Australia yesterday.