RBA November 2011: Interest Rates Cut by 0.25% to 4.50%!

The Reserve Bank of Australia (RBA) eventually has cut official interest rates by 25 basis points to 4.50 per cent at its board meeting on Melbourne Cup day (November 1, 2011).

Economists predict couple more cuts in the near future. Good news for mortgage holders, not so good news for savers. Read more on our RBA meeting, November 2011 article.

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Savings Accounts Australia

Are you getting the best value for your dollar? Here is the best Savings Accounts in Australia at the moment:

Ubank Usaver @ 6.01% - you need to deposit at least $200 a month.
RaboDirect High Interest Savings @ 6.01% - for the first 4 months, then 5.40%.
Citibank Online Saver @ 6.00% - for the first 4 months, then 4.75%
ANZ Online Saver @6.00% - for the first 4 months, then 4.25%.
HSBC Serious Saver @ 5.95% - for the first 4 months, then 4.75%.

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RBA November 2011: Interest Rates Cut by 0.25% to 4.50%!

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