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Interest rates slashed to record low of 1.5pc by Reserve Bank, banks pass on half - ABC Online

The Reserve Bank has cut the official interest rate to a fresh low of just 1.5 per cent, in a desperate effort to stoke price growth. Key points: RBA cuts cash rate by 25 basis points to 1.5 per cent; Some economists say there could be more cuts on the ...and more »

Why the RBA could cut interest rates through 1 per cent - The Australian Financial Review

Anyone who thought the banks had balanced the welfare of savers and borrowers when lifting one-, two- and three-year term deposit (TD) rates was smoking dope. A tiny fraction of savers use these products – the vast majority are suffering from paltrier ...and more »

Interest rates: Why the banks are lifting term deposits instead of cutting home loans more - ABC Online

While the Reserve Bank did as expected by cutting interest rates, the big four banks caught most people off guard by actually lifting some key deposit rates. The rise in deposit rates will be funded by the big four failing to pass on the Reserve Bank's ...and more »

Treasurer denies interest rate cut to record low 1.5% is a bad sign for economy - The Guardian

Australia stuttering construction industry will welcome the cut in the cash rate. Photograph: Dan Peled/AAP. The treasurer, Scott Morrison, insists the Reserve Bank's decision to cut interest rates to a new historic low 1.5% does not mean the economy ...and more »

Analyst warns against the 'doomed loop' of cutting interest rates -

THE banks have enraged borrowers by failing to pass on the Reserve Bank's full rate cut, but losing an extra $20 off the mortgage could be the least of our worries. Dana McCauley@Dana_Adele · 4, 20169:30am. WHILE the banks have ...and more »

Macquarie warns of risks of banks chasing mortgage loans - The Australian

Banks aggressively chasing loans are putting future profitability at risk as margins are crunched by falling official interest rates that are failing to inspire widespread demand from borrowers or inflation, experts say. Ahead of the Reserve Bank's ...and more »

Reserve Bank interest rates should be zero in recession ravaged WA, over 4pc in booming NSW - ABC Online

Conditions are so depressed in Western Australia after the mining boom that an appropriate central bank interest rate would be zero or below, while booming NSW needs a rate above 4 per cent to rein in the bubble driving home prices sky-high. That is ...and more »

Turnbull to banks: pass on whole interest rate cut - The Conversation AU

After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction. Paul Miller/AAP. Email · Twitter32; Facebook9; LinkedIn4; WhatsApp · Messenger; Print. Prime Minister Malcolm ...and more »

Banks fail to pass on full RBA rate cut - The Sydney Morning Herald

Home loan customers of Commonwealth Bank, Westpac, National Australia Bank and ANZ Bank will receive only part of Tuesday's cut in official interest rates, with the lenders blaming higher costs and tougher regulation. Within minutes of the RBA's ...and more »

RBA cuts declaring property bubble over - The Australian Financial Review

Glenn Stevens oversaw the central bank's rate cut this week in his last major move as RBA Governor. Rob Homer. Jacob Greber AFR Woodcut. Share on twitter. by Jacob Greber. The Reserve Bank of Australia has declared the threat of a property bubble is ...and more »