Interest rate cuts

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Interest rate cuts

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Interest rate cuts

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2nd September 2008, 05:32 AM

kaz101

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Join Date: Nov 2007

Location: Limestone Coast, South Australia

Posts: 4,562

Rep Power: 481

Originally from england.

Expat in australia.

Interest rate cuts

Just letting all of you moving to Oz the good news (since those of us here have probably already heard

) interest rates have been cut by the Federal Reserve by 0.25%. This may not seem like a large amount but it's the first rate drop since about 2002 and we've had 2 interest rate rises just this year!

Here are some links with more info:
PM: Rate cut only &squo;modest relief&squo; | The Daily Telegraph
Rates cut no time for a party - PM | NEWS.com.au

And here is the really good news... Earlier in the year the major banks said they may not follow an interest rate cut because of the credit crisis and then one bank said it would and now other banks are doing the same...
St George which is my bank isn't one of the 4 that have announced a rate cut yet

Big banks quick to pass on rate cut | Business Breaking News | News.com.au

This should make if a little cheaper for those of you coming over to join us soon!

Regards,
Karen

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