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Banks pounce on interest rate hike
- May 6, 2010
- Posted by: admin
- Category: Finance News
No CommentsThe 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
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Strengthening economy pushes Home Loan Rates higher
- March 2, 2010
- Posted by: admin
- Category: Finance News
The Reserve Bank of Australia has raised the official cash rate 25 basis points to 4.00 per cent – the first rate hike for 2010. The Reserve Bank increased interest rates three times in quick succession in late 2009, prompting concerns that consumer demand would weaken, especially as fiscal stimulus was also being steadily withdrawn.