Woohoo – they did it !! Another 0.25%. Be still my heart….
‘scuse the dripping sarcasm. Opinions still seem to be mixed about whether there will be more drops or not. Many say 3 more this year (and our re-elected Treasurer is one of them) and yet others say “Not so fast” – tariffs could impact inflation yet !!!
I’ve heard the average saving from the 0.50% drop is around $200 a month. If that is so, then the 13 increases totalling 4.25% must’ve cost (on average) about $1700 a month. So I don’t think too many will be leaping for joy just yet. Still, it seems the RBA have learned the lesson of “Make a move then sit back and wait a bit (like they used to).
Time will tell, and I don’t plan to hold my breath – how about you?
Well, they did it again – a 95% prediction of a rate cut, and the RBA said “No”!!
I have been hearing that the economy has been on life support for almost 3 years now (just ask anyone whose discretionary income has become quite depleted as non-discretionary costs have soared – mortgage interest being a prime contender).
But the RBA has chosen to NOT cut rates this month to provide a modicum of relief. Why? Ask them – seems what “might” happen is more important to them than what IS happening. You know “Oh, Trump’s tariffs might send our economy into a tailspin”. OK, so we’ll keep our long-suffering citizens struggling just in case?
To me, a tailspin is a lot like a bridge !! We don’t try to cross a bridge until we reach it – and I would think attempting to correct a tailspin before it occurs would severely disrupt level flight, wouldn’t it? (Where’s that rolling eyes emoji?)
So come on, RBA. How about you spend the next meeting talking to citizens rather than dreaming up “what ifs” and acting to thwart them? This is our real life you are disrupting severely with your stupidity. We eagerly await the August meeting…. Wait, did I say eagerly? Maybe not – I think we have learned that the RBA doesn’t speak Common Sense much these days.
I completely agree, Benny increasing rates now seems like a way to penalize homeowners for issues they didn’t cause
Whoopee – another 0.25% down. Hard to raise a cheer, but it is better than the alternative.
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