RBA cuts rate to 0.75%

Discussion in 'Property Market Economics' started by Chill2205, 1st Oct, 2019.

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  1. Chill2205

    Chill2205 Well-Known Member

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    The Reserve Bank of Australia (RBA) has cut the official cash rate at its October meeting.

    The RBA was widely expected to cut the interest rate from 1% to 0.75% in a further effort to support the ailing Australian economy and offset overseas risks.
     
    Chill2205, 1st Oct, 2019
    #1
  2. Mr Burns

    Mr Burns Well-Known Member

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    yay! house prices to the moon!
     
    Mr Burns, 1st Oct, 2019
    #2
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  3. Mr Burns

    Mr Burns Well-Known Member

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    When will QE start? After rates hit 0 or before? How would QE affect mortgages or property?
     
    Mr Burns, 1st Oct, 2019
    #3
  4. sash

    sash Well-Known Member

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    No surprises here.....another coming in Dec 2019.....;)
     
    sash, 1st Oct, 2019
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  5. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    Maybe the economy is weak because interest rates are too low? Saving and capital formation actively discouraged....?
     
    John_BridgeToBricks, 1st Oct, 2019
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  6. Guest

    Guest Guest

    Probably right.

    There hasn't been a rate cut in October or November where the RBA didn't cut at least once more before the end of the year since 1991.

    2+ rate cuts have occurred between October & December in the following years:

    2012
    2011
    2008
    2001
    1996
     
    Guest, 1st Oct, 2019
    #6
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  7. TSK

    TSK Well-Known Member

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    *Shakes head* But hey, we're stripping out $$$ from the economy to get a surplus we don't need ....because political optics.
     
    TSK, 1st Oct, 2019
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  8. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    It's been a few hours and I haven't seen anything from any lender. Usually there's been an announcement from some of the majors by now. Usually lenders have already prepared their position and are ready to announce before the RBA says anything.

    It makes me think that they don't want to pass much on, but they're waiting for others to announce first and take the media fallout. Rate cuts to borrowers may only be token amounts.
     
    Peter_Tersteeg, 1st Oct, 2019
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  9. Hulk

    Hulk Active Member

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    I wonder if the RBA know what they are doing ? Doing this back to back only reduce consumer confidence IMHO
     
    Hulk, 1st Oct, 2019
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  10. MTR

    MTR Well-Known Member

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    MTR, 1st Oct, 2019
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  11. datto

    datto Well-Known Member

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    Go the Druitt!
     
    datto, 1st Oct, 2019
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  12. Coota9

    Coota9 Well-Known Member

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    The lack of announcements from the Big 4 Banks is deafening...
     
    Coota9, 1st Oct, 2019
    #12
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  13. chylld

    chylld Well-Known Member

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    Untitled.png
     
    chylld, 1st Oct, 2019
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  14. JetstreamVic

    JetstreamVic Well-Known Member

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    This surely isn't a good thing....
     
    JetstreamVic, 1st Oct, 2019
    #14
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  15. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    Batten down the hatches folks. Things about to speed up.
     
    BuyersAgent, 1st Oct, 2019
    #15
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  16. chylld

    chylld Well-Known Member

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    CBA 0.13%
     
    chylld, 1st Oct, 2019
    #16
  17. Brumbie

    Brumbie Well-Known Member

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    When I went to school Savings = Investment. Investment = Productivity. Productivity = more valuable workers = higher wages = consumption = production = economic growth.
    Now everything is messed up because there is no incentive to save. Negative real risk free rate?? What is that!
     
    Brumbie, 1st Oct, 2019
    #17
  18. sash

    sash Well-Known Member

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    Yep Crooked Bank of Australia...I don't like them at all.....most people will never get the best rates off them...much better to go to the second tier...or even banks like Suncorp if you can service.
     
    sash, 1st Oct, 2019
    #18
  19. Blacky

    Blacky Well-Known Member

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    I got .25% off them.

    Nice fellows they are!!
     
    Blacky, 1st Oct, 2019
    #19
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  20. sash

    sash Well-Known Member

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    Yeah me too on their investment loans...but lets face it ...they are the dodgiest bank in OZ.....the Royal Commission proved that...
     
    sash, 1st Oct, 2019
    #20
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