RBA announces another rate cut

Posted by Louise

December 3, 2008

Keeping up with the world’s financial sector has almost been a full time job of late. And with so much speculation in the past week about interest rates and market trends, it’s sometimes hard to know where to look for practical advice and opinion.

Those who tipped that the cuts would come in at one full percentage point were right on the money (so to speak) with the official 1 per cent cut being announced yesterday.

Finance Minister Lindsay Tanner said the government expected the banks to pass on as much of the rate cut as possible, while the opposition took the hard line, saying that banks should pass on the full cut.

Whatever the next move is for the banks, this rate cut will be a welcome Christmas present for many, following up a month of stronger than expected earnings in the retail sector, and possibly marking the begining of another as the real spending silly season begins.

I would also like to recognise today’s importance as the International Day of People with a Disability, and tip my hat to the geniuses behind Australia’s Don’t DIS my ABILITY campaign. I think that we can all embrace the day’s message of greater social inclusion, focusing on ‘ability’, and removing the stigma’s surrounding disabilities.

Signing off,

Louise.

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