Interest rate drop?

The drop was not surprising. I always take note of the final line that in the RBA monetary statement. It usually is an indication of where they expect it will head next. In this case, they are strongly hinting at further drops in my opinion - at least one other I suspect.

 

Brilliant...... now lets see if the buzzards pass it on

 

Westpac, CBA pass through full RBA rate cut

 

Index tracking crow buying will be back, there virtually no earning holding cash
and with that statement it soon -ve cash, Equity and housing are the only two options

 

Which banks and lenders are cutting interest rates?
All cuts below refer to lenders’ responses to the RBA’s March rate cut. To see how these rate cuts compare with previous months’, check out our June, July and October rate cut pages.

Last updated: 01:50 PM 03/03/2020.

Key notes:

P&I=Principal and Interest, IO=Interest Only, OO=Owner Occupier.

Basis points explained: 1 basis point = 0.01% point of an interest rate (e.g. 3.00% p.a. cut by 25 basis points to 2.75% p.a.)

Advertised rates: The “new lowest advertised variable rates” listed for each lender excludes introductory & honeymoon rates and package rates. Rates are correct at the time of the last update to this page. Lowest rates will only be listed if they are new (i.e. the rate became that lender’s lowest rate after some or all of the RBA’s June cash rate cut were passed on) and currently available.

• 86 400 interest rate cut
• Adelaide Bank interest rate cut - pending
• AMP interest rate cut - pending
• ANZ interest rate cut - pending
• Athena interest rate cut - Click to view the latest rates
• Aussie interest rate cut - pending
• Auswide Bank interest rate cut - pending
• Australian Unity interest rate cut - pending
• Bank Australia interest rate cut - pending
• Bankfirst interest rate cut - pending
• Bank of Melbourne interest rate cut - pending
• Bank of Sydney interest rate cut - pending
• BankSA interest rate cut - pending
• BankVic interest rate cut - pending
• Bankwest interest rate cut - pending
• BCU interest rate cut - pending
• Bendigo Bank interest rate cut - pending
• Beyond Bank interest rate cut - pending
• Bank of Queensland interest rate cut - pending
• Citi interest rate cut - pending
• Commonwealth Bank interest rate cut
• Credit Union SA interest rate cut - pending
• CUA interest rate cut - pending
• Defence Bank interest rate cut - pending
• FreedomLend interest rate cut - pending
• G&C Mutual Bank interest rate cut - pending
• Gateway Bank interest rate cut - pending
• Greater Bank interest rate cut - pending
• Heritage Bank interest rate cut - pending
• Homestar Finance interest rate cut
• HSBC interest rate cut - pending
• Hume Bank interest rate cut - pending
• Hunter United interest rate cut - pending
• IMB Bank interest rate cut - pending
• ING interest rate cut - pending
• Liberty interest rate cut - pending
• Loans.com.au interest rate cut - Click to view the latest rates
• Macquarie Bank interest rate cut - pending
• ME Bank interest rate cut - pending
• Move Bank interest rate cut - pending
• MyState Bank interest rate cut - pending
• NAB interest rate cut - pending
• Newcastle Permanent interest rate cut - pending
• P&N Bank interest rate cut - pending
• People’s Choice Credit Union interest rate cut - pending
• Pepper Money interest rate cut - pending
• Police Bank interest rate cut - pending
• Police Credit Union interest rate cut - pending
• QBank interest rate cut - pending
• Qudos Bank interest rate cut - pending
• RACQ Bank interest rate cut - pending
• RAMS interest rate cut - pending
• Reduce Home Loans interest rate cut - pending
• Resimac interest rate cut - pending
• SCU interest rate cut - pending
• State Custodians interest rate cut - pending
• St.George interest rate cut - pending
• Suncorp interest rate cut - pending
• Teachers Mutual Bank interest rate cut - pending
• The Mutual Bank interest rate cut - pending
• TicToc interest rate cut - pending
• UBank interest rate cut - pending
• UniBank interest rate cut - pending
• Unity Bank interest rate cut - pending
• Virgin Money interest rate cut - pending

 

thats good

 

Will be another one to zero before June. Then they will start talking quantitative easing

 

When do we get to ride helicopters and drop money over the people?

 

Soon probably, i remember getting 900aud in my bank suddenly one day back then during gfc time. Came from the gov, i was so surprised.

But thats gonna push AUD down maybe even to 50c to USD.

 

i am calling 60, but 50 would be better

 

Followed by parity

 

Only passed on cuts to variable rates. Am I reading that correct?

 

ok thx

 

I think its priced in.

Didn't bounce on the announcement 1 bit
Not USd Fed is about to drop theirs. Which might be 100 baisis points or 50 who know.

 

Time to refinance

 

Slashing rates has had almost zero effect on the economy. On the flip side, it has inflated well beyond reasonable expectations, the housing sector. Can someone please tell me how slashing rates further today (with an anticipation of more) will help the economy in the face of the coronavirus threat that followed the bushfires?

I see inflating property values further as only having a negligible positive impact to the business sector. A few more sofas and tiles will likely be sold off the back of a house sale but that is only a small part of the entire business community and greater RBA and Govt imagination is needed to help business, particularly small-medium sized, than simply pumping up property prices.

Neither this Govt or RBA are fit for purpose. The economy has been on the wane for at least the last 24 months so the same tired old policies that have failed in the past and are now continuing will ultimately lead to the same old failures and lack of results going forward.

 

any word on 1st mac?

 

In the current state rate cuts and stimulus will do zero for the economy. people are scared and when scared they will react as scared people do which is hide and shut off.

It wouldn’t matter if the government all deposited $5000 into our pockets. Majority of people will sit on it. So $40 a month on a standard mortgage is totally pointless.

What it will do though is give s good kick when the dust settles and people aren’t scared anymore but that could be months and months off.

 

The rate cuts were more about the markets than people i believe. The current government will never deposit any money in anyones pocket.Maybe they'll fast forward some tax cuts. Let's see what are the measures that are being talked about that they will be taking to help ease the current conditions.

 

But it helps with investor debt, this is a nice relief, waiting for another cut in April

loving this low interest rate environment