Reserve Bank of Australia chief Philip Lowe said the coronavirus is having a ‘significant’effect’ on the country’s economy Australia’s major banks were predicting that the Reserve Bank of Australia (RBA) will slash the official interest rate from its current level of 4.35% during its Feb. 18 meeting. NAB said that the confirmation of weaker-than-forecast price … Read more
Government subsidies on electricity bills and cheaper petrol have led to a cooling down of Australia’s consumer price inflation to a three-year low. Inflation decreased to 2.7% in August from 3.5% in July, the Australian Bureau of Statistics revealed on Wednesday. Bond prices were mostly unchanged, and the Australian dollar stayed stable at $0.6891. Market … Read more
The Commonwealth Bank has slashed its fixed and variable home loan interest rates, following an “ongoing review of our interest rates and market conditions.” Those seeking three-year home loans are expected to get a competitive 5.89% interest rate, which is in line with Westpac’s offer. Additionally, the new variable rate borrowers will be offered a … Read more
