Interest Rates to Fall 2.00% by December
Posted May 27th, 2009
While it’s all chance and speculation at this point, Westpac economist Bill Evans stated that the May 2009 Reserve Bank of Australia board meeting indicated that rates were likely to fall up to 2.00% by the turn of the year.
Depending on the financial product or investment, a fall in interest rates isn’t always something to look forward to.
Fortunately for Australian credit card owners, speculation from the Reserve Bank and financial authority suggest that the cash rate may fall another 200 basis points or 2% by Christmas.
In light of this speculation, consumers tossing up fixed or variable interest rates for their finances can relax knowing they won’t be missing out if they delay their choice – it may even turn in their favour.
One of the few exceptions are fixed savings accounts, which will remain fixed at the current rate regardless if rates drop in the near future.
For a fixed rate of up to 4.50%, see the Macquarie Bank Term Deposit page for more information.
Related posts:
- Reserve Bank Interest Rates: Understanding Monetary Policy
- Isn’t it time you Fixed your Interest rate?
- Why is Credit Card Interest Rising when Rates are Dropping?
- How To Minimise Interest Rate Hike Impact
- A rise in interest rates has been forecasted
- Cash Advance Interest Rates: Things you need to know
- Cut Credit Card Interest and Fees: ATM Fees, Promotions and Low Rates
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