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RBA December 2011: Interest Rates Cut by 0.25% to 4.25%!
The Reserve Bank of Australia (RBA) has cut official interest rates by 25 basis points to 4.25 per cent at its board meeting on 6 December, 2011.
It was the second month in a row RBA has cut official interest rates.
Most economists predict couple more cuts early next year as inflation is lying at the bottom range of RBA 2-3% target and with uncertainty in the global markets - especially in Europe. Let's hope banks will follow the RBA and lower their rates in full so every mortgage holder gets early Christmas present. Read more on our RBA meeting, December 2011 article.
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Rebecca
Westpac banks variable interest rate is over 7%. The banks are the only ones winning from these RBA interest rate cuts. Its about time the Government did something about it.
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