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ANZ, Westpac, CBA, NAB and Bank of Queensland pass on part of RBA rate cut
Topic Started: 2 May 2012, 11:16 AM (3,220 Views)
NotFooled
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The Bear Whisperer

Shadow
2 May 2012, 05:28 PM
Didn't audas promise the banks wouldn't be passing any of it on?

Audus has gone off the deep end with his cultish predictions of an imminent end-of-the-world apocalypse.
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raveswei
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looks like RBA will need to cut 1% next time to get out any significant boost to the economy.

In just few jumps they will be out of ammunition without significant results.

Mortgage rates have never been under 5% in Australia it will take recession of huge proportions to get under 5% - that will not be good for anything including house prices.
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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themoops
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Frank Castle
2 May 2012, 05:59 PM
Yeah those dropping interest rates and rising rents are really sticking it to us landlords :lol

How are those falling deposit rates and rising rents working out for you moops? :to:
Rent rises are nothing compared to the massive losses in equity that have occurred. As if an extra 20-30 bucks a week is going to compensate for the tens of thousands wiped off Australian property.

Sif I'd bother worrying about interest. It's pitiful and almost irrelevant even before the cuts.

Idiot.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Frank Castle
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Business As Usual

themoops
2 May 2012, 10:36 PM
Rent rises are nothing compared to the massive losses in equity that have occurred.
As if an extra 20-30 bucks a week is going to compensate for the tens of thousands wiped off Australian property.
I haven't seen anything worth mentioning yet.
In fact if anything the brick places have increased in value. (based on recent sales of similar)

Appart from what was overpriced millionaires row can you show me any worthwhile average Joe stuff in sought after areas that has taken a hit?

The extra $20/30 a week you pay me, every week, reviewed every 6 mths, is money you have to work for.
My holding costs remain the same, thanks for the cash, more rent rises are coming :)


Quote:
 
Sif I'd bother worrying about interest. It's pitiful and almost irrelevant even before the cuts.

Sounds like you dont have enough cash in the bank worth worrying about anyway's
Obviously not like the other bears that post here claiming to have a house in cash sitting in term deposit paying the rent.
No wonder you keep praying for a crash :lol
What have you been doing with your life? :re:
Edited by Frank Castle, 3 May 2012, 07:47 AM.
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The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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earthsta
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Frank Castle
3 May 2012, 07:46 AM
My holding costs remain the same, thanks for the cash, more rent rises are coming :)




Bullshit.

Your rates rise every year, your insurance rises every year.
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Frank Castle
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Business As Usual

earthsta
3 May 2012, 08:40 AM
Bullshit.

Your rates rise every year, your insurance rises every year.
And rent increases more than cover it :tu:
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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Admin
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Commonwealth Bank cuts 40bp from borrowing rates

May 3, 2012 - 10:06AM

Commonwealth Bank will lower its standard variable interest rate by 40 basis points - joining National Australia Bank in holding back some of the Reserve Bank's 50 basis-point cut earlier this week.

Standard variable rate loans at CBA drop to 7.01 per cent, effective from Friday, May 11. Notably, the bank did not reveal its rate changes for deposits, saying those rates remain under review.

Today's CBA move outpoints NAB, which yesterday cut 32 basis from its borrowing rates. Westpac and ANZ are yet to announce their decisions, with ANZ delaying its decision until next Friday.

Read more: http://www.smh.com.au/business/commonwealth-bank-cuts-40bp-from-borrowing-rates-20120503-1y03b.html#ixzz1tlFbIGT9
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Admin
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Westpac posts $3.2b cash profit

May 3, 2012 - 10:24AM

The Finance Sector Union said the majority of the jobs will be in Sydney's CBD and in Kogarah, on the city's southern fringe.

Another big earnings result for Westpac Photo: Peter Braig

Westpac has joined ANZ in posting a bumper first-half profit as both banks consider how much of this week's official interest rate cut to pass on to customers.

Westpac's first-half cash profit came in at $3.195 billion, up 1 per cent from a year earlier, and slightly more than the $3.12 billion profit expected by analysts.

Westpac shares advanced in early trading, rising as much as 21 cents, or 0.9 per cent, to $22.90, outperforming a flat start to the overall market.

The net result, though, was less positive. Westpac's first-half net profit fell 25 per cent to $2.97 billion - in line with market expectations. The bank blamed a rise in bad debts and costs associated with setting up the Bank of Melbourne for dragging its profit lower.

"It looks like a reasonably good result," said Nomura Equities bank analyst Victor German. "The key positive is the relatively good performance from Westpac's retail and business bank."

Westpac's profits come a day after smaller rival ANZ posted cash earnings of just under $3 billion for the first half of its business.

Read more: http://www.smh.com.au/business/westpac-posts-32b-cash-profit-20120503-1y01t.html#ixzz1tlIxLKmP
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nuff_ced
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5th Largest lender ING goes 0.30% off to 6.42

http://ingdirect.wieck.com/releases/ing-direct-to-decrease-variable-home-loan-rates-by

For those keeping score.. This was after a 0.10% rise earlier in the year.
Edited by nuff_ced, 3 May 2012, 12:53 PM.
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Trojan
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nuff_ced
3 May 2012, 12:48 PM
5th Largest lender ING goes 0.30% off to 6.42

http://ingdirect.wieck.com/releases/ing-direct-to-decrease-variable-home-loan-rates-by

For those keeping score.. This was after a 0.10% rise earlier in the year.
Yes. I suspect the RBA cut it by 0.5% to compensate for banks raising the rate independently / keeping some back for themselves.
That said, I'm glad I stayed with CBA. My interest rate moves to 5.87%
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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