Following the Reserve Bank of Australia’s Board Meeting today, with a 25 basis point rise in official interest rates, National Australia Bank has confirmed a matching increase in rates on its home loans.
The Reserve Bank of Australia has again moved to increase interest rates, taking the official cash rate to 4.5 percent as the Australian economy faces inflation fears as it continues to recover.
Australia continues to struggle to manage its ‘two speed economy’ as the resource sector booms, while rising interest rates cripple the services sector.
Following the Reserve Bank of Australia (RBA) increasing official interest rates 25 basis points yesterday, National Australia Bank (NAB) confirmed its standard variable home loan interest rate would increase to almost 7 percent.
Despite todays rate rise and being saturated with financial advice, Australians are not prepared and no more financially savvy than before, according to a report by leading direct lender MyRate.com.au.
The Reserve Bank of Australia (RBA) will raise the official cash rate 25 basis points to 4.25 per cent, effective 7 April 2010, surprising the markets that had predicted the cash rate would remain unchanged.
National Australia Bank reassured customers again today it would not move its standard variable interest rate beyond any change the RBA makes to the official cash rate today.
Australian shoppers are yet to resume spending since the global financial crisis, with many concerned over the security of their jobs as the economy recovers.
Reserve Bank of Australia assistant governor Philip Lowe has warned of a return to pre-GFC levels house cost spirals as the resources sector grows. RBA assistant governor Philip Lowe warned a conference in Sydney that over “the next couple of years” capacity constraints were looming, especially as the resource sector returns to pre-GFC levels of […]
Consumer confidence has continued to rise, despite steady increases in the official cash rate by the RBA since October last year. With continued growth in the labour market and a higher Aussie dollar key to the result. The Westpac-Melbourne Institute of Consumer Sentiment Index for March, which measures the perceptions of consumers towards their future […]
