Well we predicted that ASB and Bank Direct would follow their cousin Sovereign and lower rates yesterday - but it didn't happen. Indeed it is very rare that all three don't move together. We will keep an eye on things and update the table as soon as anything happens.
Meanwhile PSIS shaved five points off both its six month and two year rates bringing them down to 5.80% and 6.35% respectively.
In other news the Reserve Bank of Australia yesterday left its cash rate unchanged at 4.75% despite recent news that inflationw as running higher than expected. While our variable rates are sitting just under the 6% mark, Australians are paying, on average, 7.83% for their floating rate.
| « Sovereign leads off changes | Yep, it's the two-year market for SBS » |
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