Australian Banks Should Cut Interest Rates

Hi All,

A lot of noise is coming today from the Reserve Bank of Australia about Australian Interest Rates. The central bank said that it was in the interest of the country's retail banks to lower lending rates when the official cash rate is lowered.

The comments were made at a parliament meeting between lawmakers and the Deputy Governor of the Reserve Bank of Australia (RBA) Ric Battelino and Assistant Governor Philip Lowe.

This is response to the Australian Banks stating that mortgage rates need to raise due to the cost of funding.

Personally i would rather sell something for £1.10 and make £0.10 than sell something for £1.20 and not sell it. Banks need to understand that times are tough and unless that want people to default they are better off cutting rates and making life easier for all.

Than maybe I can finally sell my House!

Bye For Now

IMS Foreign Exchange