PTO backs brokers
Wednesday, April 6th 2011, 8:51AM
No changes to report today, however the Reserve Bank of Australia left its cash rate unchanged, yesterday, at 4.75% (More on this below).
Over here we report on the Public Trust and its change of strategy. The government-owned business is now doing residental lending and also is entering the broker market. It's worth checking out their rates, especially short term ones, which are pretty competitive. This link shows where its floating rate sits compared to the market leaders.
To find out more about what the PTO is doing read this story.
The Reserve Bank in Australia yesterday left its cash rate unchanged at 4.75% - as anticipated. The bank's position is called “mildly restrictive”. The RBA has a balancing act with highly stimulatory forces coming from the mining boom and soaring terms of trade against households which are treading cautiously.
JP Morgan says the RBA will not wait for conclusive evidence that consumer caution is ending before resuming the tightening cycle.
"A recovery in consumption at the same time that the terms of trade and investment booms are getting into full-swing likely would mean that RBA officials need to tighten policy more assertively than we currently forecast."
It expects the RBA to sit on the sidelines until August.
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