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Rates cut 1%

Discussion in 'General Discussion Forum' started by ManlyBacker, Oct 7, 2008.

  1. ManlyBacker

    ManlyBacker Winging it Staff Member

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    Just announced. Just shows how rocky the world stage is at the moment. That is a huge change to the official interest rate which now stands at 6%.
     
  2. Matabele

    Matabele Well-Known Member

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    We're staring stagflation in the face.  This is a desperate ploy to see if the business sector will chase investment over profit taking. 

    It wouldn't surpirse if only 0.5% makes its way to the consumer though.
     
  3. Guest

    Guest Guest

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    1% is bad news as it means that the economy is a lot worse than we think.

    Surprised that Westpac has already announced a 0.80% reduction in their variable rates. 
     
  4. Matabele

    Matabele Well-Known Member

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    So have Commonwealth.
     
  5. Canteen Worker

    Canteen Worker Well-Known Member 2016 Tipping Competitor

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    I held high hopes for Turnbull as a credible leader of the opposition but his performance this morning has me concened.
     
  6. clontaago

    clontaago Well-Known Member

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    Thats an extra $50 in my pocket each week, you beauty.
     
  7. Guest

    Guest Guest

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    And just heard that they expect another 0.50% reduction in both November and December. 
     
  8. Matabele

    Matabele Well-Known Member

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    I've just taken out a $500k loan so I'm not complaining.
     
  9. The Gronk

    The Gronk Well-Known Member

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    nice one - only problem is the dollar will crash now keeping petrol prices up.  
     
  10. Garts

    Garts Well-Known Member

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    Excellent news, save a extra few hundred per month.
     
  11. Guest

    Guest Guest

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    Did you buy Dubbo?
     
  12. Fro

    Fro Well-Known Member

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    Who would want to buy Dubbo?

    And what would he do with the leftover 100k anyway?
     
  13. Canteen Worker

    Canteen Worker Well-Known Member 2016 Tipping Competitor

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    You are on fire today Fro!!! :) :) :)
     
  14. Matabele

    Matabele Well-Known Member

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      Buy Bafurst and Orange.
     
  15. Fro

    Fro Well-Known Member

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    Ahh the old Bafurst Gem, the joke that keeps on giving :)

    The tall poppy syndrome in all its glory once again.
     
  16. Nutzcraw

    Nutzcraw Active Member

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    But good for your return to australia!
     
  17. clontaago

    clontaago Well-Known Member

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    Petrol prices to sky rocket next week boys.
     
  18. The Gronk

    The Gronk Well-Known Member

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    on the back of the dollar crashing I guess.

    Oil is way way down but the dollar is more
     
  19. Matabele

    Matabele Well-Known Member

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    Thank goodness for LPG
     

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