All Topics / Finance / RBA Decision

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  • Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,024
    As a a meeting today the Reserve Board decided to increase the cash rate target by 25 BP's to 7 %.

    Richard Taylor | Australia's leading private lender

    Profile photo of Scott No MatesScott No Mates
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    @scott-no-mates
    Join Date: 2005
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    The countdown has started. How long & which bank will raise their lending rates?

    Profile photo of brookeleabrookelea
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    @brookelea
    Join Date: 2007
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    will all banks raise their rates??

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,024

    ING & Bank West announced a 25 Bp's increase within 3 hours of the decision.

    I think they will ALL increase their rates.

    Richard Taylor | Australia's leading private lender

    Profile photo of brookeleabrookelea
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    @brookelea
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    i really should be getting used to this..

    Profile photo of v8ghiav8ghia
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    @v8ghia
    Join Date: 2005
    Post Count: 871

    They surely will – but their are two things to watch for that will make it interesting (for want of a better word)
    1) Will they use it as an excuse to 'even' their rates again? It is a first for me to have seen the major banks with different rates!
    2) While they will likely all be up Friday if not before, keep an eye on the fixed rates. There was almost two weeks last time between the first lender (which bank?) and the last one to raise these last time.

    Interesting email from Steve McKnight as the forum host, with his personal view that they will kep gong up to. Hope he's wrong – but sadly I think not.  Hold on!

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