Reserve Bank cuts cash rate, savings loom for borrowers

Interest rate cuts have left borrowers "sitting. On Wednesday the Reserve Bank’s new monetary policy committee announced the official cash rate (OCR), which influences other domestic interest rates.

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Exclusive analysis crunched by financial comparison website RateCity found since the Reserve Bank of Australia’s downward cash rate. pass on the cuts to borrowers. The bank’s customers are missing.

 · If you have a mortgage, or are saving to buy a property, chances are you have heard about the Reserve Bank of Australia’s (RBA) official cash rate. That’s because the cash rate can affect the interest rate on your mortgage, it can affect how much interest your savings might earn and on a broader scale, it’s tied up with inflation, jobs and the.

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For the first time since 2014, the interest paid on savings accounts has fallen below the official inflation rate, meaning many Australians with cash in the bank. point cuts in the year. The low.

Cash Rate Cut To 2.25%, Borrowers Winning person Otto Dargan access_time February 5, 2015 The official cash rate was slashed by a quarter of a percentage to 2.25% this week and some banks and major lenders have already started passing on the drop with massively reduced fixed and variable rates.

 · The Reserve Bank of Australia (RBA) has delivered some welcome and not entirely unexpected news to the market today, with the Board announcing its first rate cut in almost two years. “The RBA has today decided to cut the nation’s official cash rate to the new historic low of 1.25%, marking the first rate cut since August 2016,” Mortgage Choice Chief Executive Officer Susan Mitchell said.

Commonwealth Bank and NAB have penalised savers a week after passing on the RBA’s full interest rate cut to borrowers. Both banks – who passed on June’s full 0.25 per cent RBA cash rate cut – have.

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Banks were quick to cut floating home loan rates after the reserve bank cut interest rates and signalled another fall is likely. But good news for borrowers comes on the. central bank lowered the.

The Reserve Bank of Australia (RBA) cut the official cash rate to 1.25 per cent, following its monetary policy board meeting yesterday (4 June). The central bank’s decision was predicted by most industry pundits, with comparison website’s RBA Cash Rate Survey reporting that of the 35 market analysts and economists surveyed, 32 (91 per cent) predicted a cut.