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Westpac predicts rate cut
- July 18, 2011
- Posted by: admin
- Category: Finance News
No CommentsWestpac’s chief economist Bill Evans has forecast a series of interest rate cuts. Mr Evans said low consumer sentiment could force the Reserve Bank of Australia to slash the official cash rate by up to 1 per cent in 2012. Not long ago all the talk was that rates could go up, but if the consumer
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Rate rise to blame for consumer sentiment drop
- May 21, 2010
- Posted by: admin
- Category: Finance News
According to the Westpac–Melbourne Institute Consumer Sentiment Index, consumer sentiment fell by a staggering 7 per cent in May, following rising rates and the release of the federal Budget this month. The Index fell from 116.1 in April to 108.0 in May, but rising rates – not the budget, seemed to host consumers’ biggest concerns.
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Home Loan Rate pause likely: RBA
- May 19, 2010
- Posted by: admin
- Category: Finance News
The RBA has all but confirmed that home buyers can expect a reprieve from rising rates, after admitting that its rapid succession of rate rises had hit household spending and curbed borrowing. Data from the Australian Bureau of Statistics shows housing finance to owner-occupiers weakened in March, falling 3.4 per cent. In addition, finance approval
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Banks pounce on interest rate hike
- May 6, 2010
- Posted by: admin
- Category: Finance News
The RBA’s sixth hike in eight months takes the official cash rate target to 4.5 per cent and will add about $48 a month to mortgage repayments on a $300,000 loan with a 25-year term. The Commonwealth Bank was the first of the big banks to announce it was lifting its rates following the RBA