The Reserve Bank of Australia has cut interest rates by 50 basis points in an unexpected move that should provide welcome relief to many homeowners. The reduction takes the official cash rate to 3.75 percent. Damian Smith CEO of financial comparison site RateCity called the RBA’s decision "a very big move". "They haven’t moved rates [...]

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The board of the Reserve Bank of Australia has left the official cash rate at 4.25 percent for the second month in a row. The move was widely expected with inflation at the bottom of the RBA’s target band of 2-3 percent and global economic conditions improving. However, the news may not be met with [...]

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The decision of the “Big Four” banks to lift interest rates independent of the Reserve Bank has left mortgage holders bewildered and wondering “will they do it again?” “Whilst we are thankful that our banking industry is stable and profitable it seems like a cheap shot at mortgage holders, many of whom are already struggling,” [...]

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The Reserve Bank of Australia board has kept interest rates on hold, leaving the official cash rate at 4.25 percent. The shock move comes as many parts of the economy continue to struggle with the side effects of the mining boom. Data published yesterday showed retail trade contracted 0.1 percent in December, traditionally the sector’s [...]

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The Reserve Bank of Australia board has cut the official interest rate by 25 basis points to 4.25 per cent, giving mortgage holders and borrowers a pre-Christmas reprieve. The RBA announced the rate cut at 2.30pm AEDT today following the board’s final meeting for the year. It’s the second interest rate cut in as many [...]

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Economists are divided on whether borrowers will get a second interest rate cut in as many months on Tuesday. Seven of the 14 economists surveyed by AAP say the RBA will cut the cash rate to 4.25 per cent from 4.5 per cent on December 6. On Melbourne Cup day, the Reserve Bank of Australia [...]

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The recent interest rate cuts are now starting to take effect and borrowers are wise to use them to their long term advantage. That’s the view of leading agent Madeleine Hicks of LJ Hooker Everton Park. “Lower interest rates equal lower monthly repayments. Many households will be tempted to use those savings to assist with [...]

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With the Reserve Bank serving up a rate cut, it’s a smart move to keep your repayments at the same level. Many lenders don’t automatically reduce your repayments when rates fall. That doesn’t mean, of course, that you’re not getting a cut in interest rates – just that your weekly or fortnightly (or monthly, but [...]

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Australia’s biggest home lenders cut mortgage rates soon after the central bank reduced the cash rate for the first time since April 2009. Westpac took just 15 minutes to pass on the Reserve Bank of Australia’s (RBA) 0.25 percentage point rate cut in full on Tuesday. It will lower its standard variable home loan rate [...]

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Homeowners have been granted a long awaited reprieve, with the Reserve Bank opting to drop interest rates by 25 basis points. The cut continues what is becoming a tradition, with the Reserve Bank changing the cash rate on Melbourne Cup Day for the sixth year in a row. It is also the first time in [...]

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