Rate cuts - whoooo

[ism22]

Intentionally avoiding politics here but excellent news that the cash rate has received a cut. Those with mortgages will no doubt be happy with this outcome.

Great signs of recovery for our economy following the COVID pandemic and associated global economic trends.

Haven't read the minutes yet but after rates being on hold for quite a while, I think it's fair to say we're seeing some stability. Not a boom period deserving of multiple bottles of Prosecco (I've got a 24km run in the morning anyway). But...with all she shyte going on in the world right now I'm happy to be an Aussie.

Cheers to all and best wishes for 2025!

[King Salvo]

The cash rate increased from from 0.10% under the LIBS/NATS in April 2022 to 4.35% under Laboring On in December 2024 - Who can't forget the record high Interest Rate of 17.5% under Laboring On in 1990. - The Only benefit was the interest the banks where paying on Interested bearing accounts and term deposits - St George were paying 12.5% on term deposits I recall.

"The market is expecting quite a few more interest rate cuts in the middle of next year, about three more on top of this," she said.

"Whether or not that eventuates is going to depend very much on the data. Our feeling at the moment is that that is far too confident."


https://www.abc.net.au/news/2025-02-...last/104949396