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Bruce
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Bruce is offline
Wollongong, Australia
Joined: Apr 2012
Posts: 15,218
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03-11-2020, 09:18 AM
1

Interest Rates Down Again

Today the Reserve Bank reduced interest rates from an already record low 0.25% to 0.1%.

It just goes to show the trouble this economy is in.

In a sneaky move NSW government has announced that the expected 2.5% pay rise for public servants has been slashed to 1.5%.
Donkeyman
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Melton,United Kingdom
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03-11-2020, 12:24 PM
2

Re: Interest Rates Down Again

Originally Posted by Bruce ->
Today the Reserve Bank reduced interest rates from an already record low 0.25% to 0.1%.

It just goes to show the trouble this economy is in.

In a sneaky move NSW government has announced that the expected 2.5% pay rise for public servants has been slashed to 1.5%.
I think it is all part of the banking industries drive to to get us all
onto credit cards Brucy and do away with cash??
This is not peculiar to australia but is taking place worldwide!!
Gone are the days when a healthy economy was typified by the
amount of money lying in private savings accounts ??
And nowadays if you dont owe anything you are considered a
bad risk??

Donkeyman! 😟😟
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SW England
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03-11-2020, 08:48 PM
3

Re: Interest Rates Down Again

Here in Britain we are on the verge of negative interest - we pay interest to the bank. Of course if it happens there will be piles of cash stuffed under floorboards and an increase in burglaries.
Bruce's Avatar
Bruce
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Bruce is offline
Wollongong, Australia
Joined: Apr 2012
Posts: 15,218
Bruce is male  Bruce has posted at least 25 times and has been a member for 3 months or more 
 
03-11-2020, 10:03 PM
4

Re: Interest Rates Down Again

The Reserve Bank has said these low rate will last for at least 3 years.

According to commentators it is to keep the Australian dollar low to help exporters and to import inflation which has remained about 1% for years now.

As mentioned the problem is that other countries have lower or negative rates so the general feeling is that it will do bugger all and the government will have to take action to stimulate the economy which is an anathema to the idealogues in the Liberal Party.
 

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