interest rate rise?

Submitted: Tuesday, Mar 25, 2008 at 15:28
ThreadID: 55899 Views:1226 Replies:4 FollowUps:4
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can some tell me what the last interest rate was ? cheers
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Reply By: Leroy - Tuesday, Mar 25, 2008 at 15:31

Tuesday, Mar 25, 2008 at 15:31
0.25
AnswerID: 294611

Follow Up By: zacc - Tuesday, Mar 25, 2008 at 15:35

Tuesday, Mar 25, 2008 at 15:35
thats what i thought , ING decided to slug me .6 %, gease they sh@#t me .
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Follow Up By: Member - Kim M (VIC) - Tuesday, Mar 25, 2008 at 17:45

Tuesday, Mar 25, 2008 at 17:45
I copped .4%

Regards

Kim
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Reply By: wrexed03 - Tuesday, Mar 25, 2008 at 17:26

Tuesday, Mar 25, 2008 at 17:26
Ah yes they said some banks were going to put a bit on top of what it was supposed to be.
Its ok Zacc i read somewhere im going to get slugged as well. Good old St George.... :(

Regards
AnswerID: 294638

Reply By: The Landy - Tuesday, Mar 25, 2008 at 20:45

Tuesday, Mar 25, 2008 at 20:45
At the risk of sounding controversial, the 'official' interest rate rise of 25bp and RBA cash rate does not currently reflect the cost of raising capital (by banks). The bank bill rates are trading well above the official RBA cash rate. That is market forces at work and amongst other things it tells us that the market is expecting further rate rises.

This story is widely pushed by the 'talkback radio' jockeys without giving the true picture.

What should be of greater concern will be the credit rationing that is happenig now and that will get worse and this will be regardless of what people are willing to pay to borrow money. That will have a large impact on our economy and businesses in general.

Heading for the trenches now.......

AnswerID: 294723

Follow Up By: The Landy - Tuesday, Mar 25, 2008 at 20:46

Tuesday, Mar 25, 2008 at 20:46
I said 'of raising capital' but meant accessing funding for on-lending......
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Reply By: Member - The W (WA) - Tuesday, Mar 25, 2008 at 23:28

Tuesday, Mar 25, 2008 at 23:28
Surely I'm not the only one that can remember paying 18% for housing and 23% for business.
It was when we were starting out in business and went quickly from 12 % I thinnk it was, to that .
That is an increase, one that hurt but we got thru it.
Don't ask me how, we just did.
There must be other farmers amongst us that can remember this!
The Wattos.
AnswerID: 294761

Follow Up By: DIO - Wednesday, Mar 26, 2008 at 09:23

Wednesday, Mar 26, 2008 at 09:23
Guess that's the problem with borrowing someone else's money. You pay what they ask. After all it was their money that you want the unrestricted use of. That's how the system works. Sometimes comfortable for borrowers - other times not.
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