Reserve Bank cuts interest rates

[one-eyed]

Wait on retail banks after Reserve Bank cuts rates by 100 basis points
Herald-Sun | October 07, 2008 02:42pm

THE Reserve Bank has just cut official interest rates from 7 per cent to 6 per cent in response to the world economic crisis.

The All Ordinaries Index rose more than 100 points in the five minutes after the rate cut was announced.

It reversed the the three-per-cent drop in morning trade.

But the Australian dollar dropped another US1c againt the US dollar.

It was the first 100-basis-point cut to the cash rate since May 6, 1992, when the RBA lowered the cash rate to 6.50 per cent.

The key question now is how much rates relief the big banks will pass on to borrowers.

The RBA cut rates by 100 basis points in an effort to shield the Australian economy from further fallout from the global financial crisis.

Rest of story here:
http://www.news.com.au/heraldsun/story/0,21985,24459893-661,00.html

[Francois Jackson]

worrying times ahead.

rate cut is a bad sign for the world economy

[mightytiges]

A world recession all thanks to greedy pricks like that CEO of Lehman brothers giving themselves half a billion dollar pay-packets and multi-million dollar properties while the bank is going down the gurgler  . And then he's in court crying because he got caught  . Sorry pal when you pay yourself $70k a minute  no one is going to fall for your crocodile tears  .

[Francois Jackson]

A world recession all thanks to greedy pricks like that CEO of Lehman brothers giving themselves half a billion dollar pay-packets and multi-million dollar properties while the bank is going down the gurgler  . And then he's in court crying because he got caught  . Sorry pal when you pay yourself $70k a minute  no one is going to fall for your crocodile tears  .

i nearly spat on the TV when i saw that fool crying in court.

so many like him around the world.

[Ox]

i nearly spat on the TV when i saw that fool crying in court.

that would have been clever.

[DallasCrane]

i nearly spat on the TV when i saw that fool crying in court.

so many like him around the world.

You are such a hero to the workers Daniel.
A shining beacon of the labour movement. It is good to see such a turnaround from someone who less than 6 months ago was the captain of the 'Greed is Good' First XI.

All the great names of the Australian workers movement, O'Shea, Hawke, Chifley, Combet, Halfpenny- all salute you for your efforts, daniel161.

[Francois Jackson]

i nearly spat on the TV when i saw that fool crying in court.

so many like him around the world.

You are such a hero to the workers Daniel.
A shining beacon of the labour movement. It is good to see such a turnaround from someone who less than 6 months ago was the captain of the 'Greed is Good' First XI.

All the great names of the Australian workers movement, O'Shea, Hawke, Chifley, Combet, Halfpenny- all salute you for your efforts, daniel161.

i never once promoted greed like this man did. CEO's have the right to a big pay pakcet if they do their job.
What this guy did was no better than vizard and skase. He is a loser like possibly you are.

get your facts right stuffhead.

Correct me if im wrong you seem to know a lot about what i said 3 months ago.

i cant actually remember know what i said. One thing i do know is i know more about the game than you buddy.

your probably another idiot who blame everyone for their own misfortune.

there is a mirror i suggest you look in it