Friday, Apr 25, 2008
Eye-watering rates downunder
The Australian: Double Whammy for Australian borrowers
AUSTRALIAN home borrowers are doing it tougher than their British and US counterparts as the global credit crunch and surging domestic inflation push rates even higher.
ANZ has the highest of the variable rates, along with St George Bank, at 9.47 per cent.
NAB is at 9.46 per cent while Westpac is at the bottom of the ladder at 9.37 per cent. It comes as this week's high inflation numbers in Australia dampened hopes for an official rate cut, while the banks continued to lift rates, irrespective of the Reserve Bank leaving the cash rate unchanged at 7.25 per cent. ... Inflation at 7.845% ...
How much is the AUD really worth?
Posted by mken @ 09:33 PM (246 views) Add Comment
1 Comment
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1. Cheekie Charlie said...
At least the people who conduct their inflation measure seem honest!