RBA maintains squeeze on interchange as banks fail in payments reform
The Reserve Bank of Australia has decided to continue regulating interchange fees on card transactions after concluding that insufficient progress had been made in opening up the domestic payments system to new competition.
Reserve Bank insists maintaining rock bottom interest rates | Finance Report
The Reserve Bank has insisted it will maintain rock bottom interest rates for at least three years. Here’s business editor Ian Verrender on that and why real estate has “gone nuts”.
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Reserve Bank keeps interest rates on hold at 1pc despite stalling economy | ABC News
The Reserve Bank has kept its official interest rate on hold, despite indications the economy slowed sharply over the June quarter.
The RBA board decided to keep its powder dry after making consecutive cuts in June and July to take the cost of borrowing to a historic low of 1 per cent.
The decision was taken ahead of tomorrow’s release of second quarter GDP figures, which are expected to show the economy slowing to its weakest growth in almost two decades.
Read more here: https://www.abc.net.au/news/2019-09-03/rba-keeps-rates-on-hold-at-1pc-despite-stalling-economy/11473456
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How houses make banks millions and homeowners pennies
The banks making a killing Here’s how
They make almost all of their profits from interest before you get any meaningful equity in your home.
Ever seen an amortization schedule? Think back to exponential decay from math class. It just so happens to work out that the payments on a loan at any given interest rate are weighted HEAVILY towards interest in the early part of the loan term, and principal at the late part.
So what do you think is the smart thing to do here?
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Warnings of imminent recession if Reserve Bank of Australia continues to hike interest rates
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