Business
When ‘cutting rates’ doesn’t mean what you think it means – Motley Fool Australia
Here’s a red hot question for the Big 4 banks: Why haven’t you passed on the cash rate cuts to variable rate home loan customers?
Yes, yes. Apparently there’s an election going on. In the UK, or UPS or something.
But enough people are already writing more than enough words on that.
Instead, let’s talk about what’s happening while many of us are distracted by politics:
As we all know by now, the RBA threw the kitchen sink at the economy on Tuesday, including cutting the official cash rate by 0.15% to 0.1%.
(It also did a lot of other things which were far more important, economically!)
The rate cut will be bad news for long-suffering…
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