Nick Garlaounis 1More Interest Rate Changes - NAB and ANZ Lead The Way -
October 20th 2008 00:24
Again interest rates are seeing a fall and the leading banks to take the first step are the ANZ and NAB, CBA and Westpac are yet to take the plunge.
The RBA is poised to lower the interest rate by a full 2% although this is yet to be confimed. This is the only way that some level of confidence will be put back into the market, consumers are still cautious about spending and more so about taking out a home loan given there is so much uncertainty about the state of interest rates and also job security.
There is a long road to travel and the Australian economy while still robust, compared to other countries is still a long way from being secure. The recession is here although the media and political spin doctors are playing down so as to not spark fear in the minds and hearts of all Australians.
Be prepared Australians, we have a tough time ahead of us but in saying that we are still the Lucky Country.
The RBA is poised to lower the interest rate by a full 2% although this is yet to be confimed. This is the only way that some level of confidence will be put back into the market, consumers are still cautious about spending and more so about taking out a home loan given there is so much uncertainty about the state of interest rates and also job security.
There is a long road to travel and the Australian economy while still robust, compared to other countries is still a long way from being secure. The recession is here although the media and political spin doctors are playing down so as to not spark fear in the minds and hearts of all Australians.
Be prepared Australians, we have a tough time ahead of us but in saying that we are still the Lucky Country.
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Comment by Anonymous
Comment by Macca
Comment by Nick Garlaounis 1
Financial Review - AWFG -
Simple when you take a look at the global economy and how far greater the impact is overseas in markets such as the US and the EU. More so, we still have a public health system which is being reviewed and upgraded by the current government, we still have food on out table and shelter for the majority of homeless, services for the unemployed, services for disaabled persons, an increase on its way for pensioners etc etc...
We are far from a third world country and we are truly blessed to live in a country which is democratic, fair, empowers people with freedom of speech and provides a safety net for the majority of people living here.
Yes, when you take all of this into account we are still the lucky country without a doubt!