RBA: 50 basis point cut

PRESSURE is mounting on the Reserve Bank to slash interest rates when its board meets later today, after major industry groups joined the chorus for the cut to be as wide as half of 1 per cent.
The housing sector last night pleaded for a cut after woeful new home figures showed sales had collapsed to [...]

Non banks can regain market share over the coming year

Funding options for mortgage managers and originators are improving and there is growing optimism that the sector can regain market share over the coming year.
Speaking to The Adviser, National Mortgage Company’s chief executive Angelo Malizis said that while the Global Financial Crisis forced many mortgage managers to scale backm, a number of groups are now [...]

RBA left rates on hold

The Reserve Bank of Australia has left the official cash rate on hold for the third consecutive month.
The official cash rate remains at 4.25 per cent, which is in-line with forecasts from leading economists that rates will stay on hold until mid-year
In the minutes of the Monetary Board Meeting, the Board said that [...]

Steady Cash Rate at 4.25 per cent !

BORROWERS will have to wait at least another month for lower repayments after the RBA kept rates on hold today.
It is the second consecutive month the central bank has taken a cautious approach to safeguarding the economy leaving the official cash rate at 4.25 per cent – among the highest of the [...]

RBA left cash rate unchanged

Rba Left Cash Rate Unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent.
Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have lowered their forecasts for world [...]

THE Reserve Bank has cut interest rates for the first since April 2009

THE Reserve Bank has cut interest rates for the first since April 2009 in a bid to stimulate the Australian economy, as the world endures ongoing volatile financial market conditions.
The decision today to reduce the official cash rate from 4.75 per cent to 4.5 per cent is the first rate cut since April 2009, as [...]

Aussie banks’ funding structures are proving to be the best

AUSTRALIAN banks’ funding structures are proving to be more resilient to periods of financial stress than their European counterparts, a central bank official says.
A key reason for the current financial market volatility is the increased funding costs for some banks, particularly in Europe.
Reserve Bank of Australia (RBA) assistant governor (financial markets) Guy Debelle said while [...]

CBA voted the worst bank

After seemingly endless months of bad publicity over the massive paypacket of its outgoing CEO and growing customer dissatisfaction over rate rises, it shouldn’t be a surprise that the answer is the Commonwealth Bank.
The backlash has been so severe that the bank has gone straight to the bottom in the latest people’s choice survey conducted [...]

RBA Rates Dilema

The Reserve Bank Australia (RBA) has been torn between low economic growth and high inflation when deciding rates over the past year, a senior central bank official says.
Australia’s annual headline inflation rate was 3.6 per cent in the June quarter and 3.2 per cent in the March quarter, well outside the RBA’s target range of [...]

RBA leaves interest rate unchanged

Glenn Stevens, governor of the Reserve Bank of Australia

THE Reserve Bank of Australia contemplated raising interest rates today, but held off because of political and economic uncertainty in Australia and across the world.
In a statement accompanying the decision to hold the cash rate at 4.75 per cent for August, RBA Governor Glenn Stevens said the [...]