RBA cut rates by 0.5%

[Andrew from Vista Financial]

As expected the Reserve Bank of Australia have just announced that interest rates will be cut.

 

Rates will be reduced by 0.5%!!

 

See the full media release here http://www.rba.gov.au/media-releases/2012/mr-12-10.html

 

Let's see what the Banks do.....

 

Andy

[Guest shella_n]

If the banks pass it on we will be coming in to see you Andy to secure ourselves a good deal as looking to buy first house in a couple of months :-)

[Andrew from Vista Financial]

If the banks pass it on we will be coming in to see you Andy to secure ourselves a good deal as looking to buy first house in a couple of months :-)

 

 

Fingers crossed Shella

[Guest darlo 2 adelaide]

thanks for the information

[Guest atti]

wheres the rate cut anz ?

[Anne B]

The RBA have finally realised that the economy is slowing down. I predict more interest rate cuts to follow.

 

If you compare the PMIs (performance index) of Australia and the UK it is quite interesting. I don't totally understand what these are but a value below 50 means a contraction, above 50 an expansion. The UK is on the way up and Australia is on the way down.

 

Manufacturing PMI UK 50.5 Australia 43.9

Services PMI UK 53.3 Australia 39.6