The Reserve Bank of Australia has announced the official cash rate for June, following its monthly board meeting. The RBA board has again decided to keep the cash rate at a record low of 1.5 per cent, in a move predicted by most industry pundits.
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RBA announces cash rate decision. The Reserve Bank of Australia has today announced the official cash rate for April following its monthly board meeting. The board has decided to hold the cash rate at its record low of 1.50 per cent, in a move predicted by most industry representatives. Of the 32 surveyed respondents on the finder.com.au panel,
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The pressure is on Australia’s major banks to pass on the Reserve Bank of Australia’s 50 basis point cut in full to Australian households and businesses. In a surprise move, the RBA slashed Australia’s cash rate by 50 basis points to 3.75%, amid data showing inflation is easing and signs of weakness in the housing market.
ANZ has refused demands from both sides of politics to pass on the Reserve Bank’s rate cut in full, announcing it will lower its interest rates on mortgages by 0.18 percentage points instead of.
This means that you can save approximately $60 per month or $750 per year if you take out an ANZ home loan of approximately $280,000. On the other hand, ANZ’s business clients didn’t get such a significant decrease, as ANZ cut the rate for small business loans by 25 basis points, in line with RBA’s cuts.
Big four bank customers will receive only part of Tuesday’s cut in official interest rates, with lenders blaming higher costs and tougher regulation. Banks fail to pass on full RBA rate cut
RBA announces cash rate decision. The RBA board has decided to keep the cash rate at 1.5 per cent, a move predicted by most industry experts. All of the 25 surveyed experts on the finder.com.au panel correctly predicted the record low cash rate to remain unchanged. The head of investment strategy and chief economist at AMP Capital, Shane Oliver,
Four credit unions and three mortgage managers have cut some or all of their variable-rate home loans by 25 basis points, in the line with the cut in the rba cash rate announced this week. Credit.