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Reserve Bank interest rate cut could see you get less money back on your savings – ABC News
It might not be the worst problem to have during a recession, but for Australians with decent savings in the bank, record low interest rates are posing a dilemma….
It might not be the worst problem to have during a recession, but for Australians with decent savings in the bank, record low interest rates are posing a dilemma.
Key points:
- Banks have been reducing deposit rates to new lows during COVID-19
- People with high savings in the bank are noticing a difference
- Banks might lower deposit rates further if the Reserve Bank cuts the cash rate on Tuesday
The Reserve Bank is expected to lower the country’s official cash rate to a historic low on Tuesday. It already…
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