The RBA has slashed interest rates in the first cash rate move in almost three years. The move was widely expected, and no doubt the focus will now turn to mortgage rates; how low will they go?
After having a stellar run in the first quarter of 2019, and with the RBA set to meet early next week, the Australian sharemarket momentum has slowed by around 80% over the past two months.
Josh Frydenberg will unveil the Federal Budget, his first as treasurer, in Canberra tonight. With all eyes on Prime Minister Scott Morrison as he prepares to announce the date of the next federal election, tonight's Budget is an important step in the Coalition's bid for re-election.
The interest rate earned on "lost" bank accounts for the 2017-18 period was 2.13%. The average interest rate on a transaction account over the same period was a measly 0.11%.
The RBA has looked past the housing downturn which has gathered some momentum over the past three months, to hold the cash rate firm at their first meeting this year.
The longest period of interest rate stability on record has extended out another month, with the RBA keeping the cash rate on hold at 1.5% where it has remained since they cut the cash rate by 25 basis points in May and August of 2016.
You'll now receive new articles and insights that will help you earn more, save more and make the most of your investments.
You can expect to hear from us every week.
In the meantime, stay up to date by following Money on social media.
Important
To ensure you receive emails from us, we recommend that you add our email address (@moneymag.com.au) to your contacts or safe senders list.
If you don't receive our newsletters, please check your "Junk" folders. Your email provider should give you an option to add the email to your safe list.