The Reserve Bank has cut interest rates for the first time in more than 2½ years, bringing relief to households and corporate borrowers. As widely tipped by economists, the central bank today lowered its key cash rate by 25 basis points to 4.5 per cent. The move reversed the increase imposed on Melbourne Cup Day [...]

The Reserve Bank has left its key interest rate unchanged for another month, ignoring for now the gathering signs of a slowdown in global growth. The central bank kept its cash rate at 4.75 per cent where it’s sat since Melbourne Cup Day last year. The RBA’s decision was widely expected as the central bank [...]

A WEEK ago experts were warning interest rates were going up. Now lenders are cutting them. Sydney-based banks – Commonwealth, Westpac and St George – led the pack yesterday reducing their interest rates on fixed-term loans. The fixed-term rates offered by these lenders are now well below the average discount variable rates which rise and [...]

THE risk that the carbon tax will trigger interest rate rises is, in the words of at least one economist yesterday, “a foreseeable risk”. Economists yesterday broadly agreed with the Government’s forecast that the tax would lead to a 0.7 per cent boost to inflation – low enough to allow the RBA to “look through” [...]

Mortgage holders were given a boost today when the Reserve Bank decided to keep interest rates on hold. While the move is hardly a surprise, it will still be welcome news for people paying off a mortgage. Each 0.25 per cent interest rate rise adds another $60 to the monthly cost of an average Australian [...]

Interest rates are on hold for now but economists expect the next move to be up. Home buyers are turning to fixed-rate mortgages in response to the steady rise in interest rates last year and predictions that rates will go higher this year. Mortgage broker AFG publishes a monthly mortgage index, which shows that the [...]

The Commonwealth Bank is attempting to win back customers by scrapping fees across a range of mortgage and savings accounts after being stung by criticism of its interest rate rise last November. The move, which includes the temporary removal of mortgage establishment fees, is part of efforts by the banking sector to smooth over relations [...]

Most people, whether they are owner occupiers or investors, have to borrow money when purchasing property. When you are in this situation, one of the most commonly asked questions you will ask yourself is: “Should I take out a principal and interest or interest only loan?”

Christmas cheer from borrowers as RBA says official interest rates will stay on hold after last month’s shock rise. The Reserve Bank has left interest rates unchanged, providing relief for borrowers and retailers in the crucial shopping weeks before Christmas. The central bank kept rates at 4.75 per cent – the level it raised them [...]