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. Share on Facebook · Share on Twitter · Share via Email; View more sharing options; Share on LinkedIn · Share on Pinterest · Share on Google+ ...and more »

ASX: Share market rises on miners, energy stocks - ABC Online

The share market has closed just shy of a one-year high on expectations the Reserve Bank will cut interest rates to a new low tomorrow. Markets at 6:00pm (AEST):. ASX 200 +0.5 pc to 5,587, All Ords +0.5 pc to 5,670; Major gains: Whitehaven Coal +8.3pc ...and more »

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 »

Reserve Bank rate cut: Why did banks respond as one? - The Sydney Morning Herald

Our biggest banks move fast. Either that, or they collude. At 2.37pm on Tuesday, within minutes of the Reserve Bank cutting its cash rate to an all-time low, the Commonwealth Bank announced a completely different way of responding. Instead of passing ...and more »

Rate wars: Was the cut really our best hope? - NEWS.com.au

THE RBA cut interest rates to a record low today. Was that smart? Or is asking that question missing a bigger point? Imagine, if you will, RBA Governor Glenn Stevens as the hero of a science fiction movie. In the final scenes he is flying his spaceship ...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 »

Economists react: RBA cuts rates to 1.5% - The Conversation AU

The RBA has cut rates to try and stimulate inflation and growth. Dean Lewins/AAP. Economists react: RBA cuts rates to 1.5%. August 2, 2016 2.43am EDT. Jenni Henderson, Richard Holden, Saul Eslake, and Timo Henckel. Author. Jenni Henderson. Editor ...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 »

Big banks do the RBA a favour, even if it doesn't realise it - ABC Online

By not passing on all of the Reserve Bank's rate cut, the major banks have ensured only half the stimulus gets passed through to housing. And that's a good thing, writes Michael Janda. The major banks have copped a bit of a bashing for their decision ...and more »

Interest rates: Reserve Bank confirms housing slowdown a key factor in cut - ABC Online

With its economic and inflation forecasts little changed, housing market developments dominated the Reserve Bank's decision to cut interest rates on Tuesday. The bank's governor Glenn Stevens had hinted as much in his statement after the RBA announced ...and more »