Reserve Bank tipped to cut interest rates by 50 basis points | NEWS.com.au
* RBA tipped to cut rates today
* Predicted to come down 0.5pc
* Another cut possible before Christmas
HOMEOWNERS are in for a boost today when the Reserve Bank is tipped to slash official interest rates. And lower rates are not the only good news.
Petrol is also expected drop by as much as 10c a litre in coming weeks.
But the good news on interest rates is a sign the economy is faltering.
Markets have factored in a likely cut of 50 basis points - or half a percentage point - a third straight cut this year.
However, with international bank-to-bank lending costs still fluctuating, there is no certainty banks will pass on the full benefits immediately.
If passed on in full, a half percentage point cut would take around $80 off the monthly mortgage repayments of the average home loan of $250,000 over 25 years.
No comments:
Post a Comment