Interest Rates Increase

[Andrew from Vista Financial]

The RBA have announced this afternoon that they are increasing interest rates, things have certainly been heading this way for a while but many thought that there might still be some reprieve today.

Here is the official press release RBA: Media Release-Statement by Glenn Stevens, Governor: Monetary Policy Decision

Regards

Andy

[Andrew from Vista Financial]

Well it certainly hasn't taken long (it never usually does) for Commonwealth Bank to raise their interest rates and by a massive 0.45%!!! Australia's CBA raises int rate by 45 basis points | Reuters

 

I wonder what Wayne Swan will do about this (again not a lot but he will talk)

[Guest Mark Xpnsit]

I'm sure the rest will be following soon too Andrew, have any announced they won't be increasing above the base rate?

[Guest Matey2]

Well, reading the comments on various news sites, I thought everyone would be up in arms today at work, but not a peep! I suppose non of them are in mortgage stress or trying to sell a house.