AMP Bank reduces home loan interest rates by up to 30 basis points

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AMP Bank has reduced its interest rates for new and existing customers across all variable rate home loans by 25 basis points and for new fixed term home loans by up to 30 basis points. The AMP standard variable home loan interest rate will be reduced to 6.00 per cent per annum. The AMP Essential

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Reserve Bank ponders next move

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Reserve Bank Board meeting The Reserve Bank Board has cut the official cash rate by 25 basis points or a quarter of a per cent to 2.50 per cent. It was the first rate cut since May and keeps official rates at the lowest levels recorded in 53 years. It was the first cut in

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CANSTAR issues rate movements and commentary ahead of Tuesday’s RBA announcement

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Commenting ahead of the RBA announcement, Mitchell Watson, Research Manager for CANSTAR said: “Last week Reserve Bank Governor Glenn Stevens gave a speech in which he called the end to the investment growth phase of the mining boom. He stated that there is no natural successor to that growth at the moment and monetary policy

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RBA: Interest rate cut on agenda next week

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The Reserve Bank Governor has delivered a speech at the Anika Foundation in Sydney. The Reserve Bank Governor has provided the clearest message yet that while super low interest rates are providing a boost to the economy, there is “no impediment to further easing if needed”. The inflation data last week has not changed the central bank’s views

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Investor Signposts: Week Beginning July 21 2013

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Upcoming economic and financial market events Australia July 22: State of the States – CommSec’s quarterly assessment of state/territory economies July 24: Consumer Price Index (June Qtr) – We expect that prices rose 0.4% to be up 2.4% over the year Overseas July 22: US Existing home sales (June) – A modest lift in sales

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CommSec: Interest rates held steady…for now

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Reserve Bank Board meeting The Reserve Bank Board has left the official cash rate at 2.75 per cent for the second straight month. In May the RBA cut the cash rate by 25 basis points to the lowest levels recorded in 53 years. The next RBA Board meeting is on August 6 2013. The accompanying

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Stable rates boost confidence

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The Westpac/Melbourne Institute index of consumer confidence rose by 4.7 per cent in June. All five components of the index rose in June. The index is up 6.9 per cent over the year to June. In the June quarter, 34.0 per cent of consumers believe that the wisest place for new savings is in the

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15 key takeouts from RBA report

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The Reserve Bank has made only subtle changes to its forecasts on inflation and no change to forecasts on economic growth. Reserve Bank general views haven’t become more negative or more positive. And there is no clear intention for rates to be cut again. The 15 key take-aways from the Reserve Bank report: There is no

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Oliver’s Insights – Interest rates still falling, more to go

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This edition of Oliver’s Insights looks at the RBA’s latest cut to interest rates. The key points are as follows: The RBA has cut interest rates again and they are likely headed even lower, probably to 2.5% in the next few months. The mining investment slowdown is now looming as the response by the non-mining economy

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AMP Bank reduces interest rates across all variable rate home loans

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  AMP Bank has reduced its interest rates for new and existing customers across all variable rate home loans by 25 basis points.    The AMP Bank standard variable home loan interest rate will be reduced to 6.25 per cent per annum.   The changes come into effect from Friday 24 May for new customers

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