bmanly Posted August 2, 2006 Share Posted August 2, 2006 Hello everyone, Australian interest rates have gone up to 6% today so if you are living off your interest bearing accounts you will be getting 6% interest now, so more baht for your $. Here is part of the story: The central bank today lifted the official cash rate by 25 basis points to 6.0 per cent, the second time it has raised interest rates this year. The rate rise will take variable lending rates to 7.8 per cent, well above lending rates of recent years. Full story here. Current exchange rate to the USD Median price = 0.76577 / 0.76597 Current exchange rate to the THB Median price = 28.97292 / 29.01879 (bid/ask source: oanda.com Link to comment Share on other sites More sharing options...
samran Posted August 2, 2006 Share Posted August 2, 2006 Higher interest rates will also make the AUD stronger as well relative to the THB. So even more bang for your buck. Also means housing prices should be pushed.....DOWN!!! Who hooo. God bless high banana prices, and lax inflation targeting. Link to comment Share on other sites More sharing options...
simcity Posted August 2, 2006 Share Posted August 2, 2006 Banks have a marge between central bank official rate and what they offer to the public . if 6 % central bank i will be surprise to see more of 4.75 % on deposit and less of 7.75% on borrowing ! i hope not to see a 6% on deposit to soon . thailand got many hike the last few months too . Link to comment Share on other sites More sharing options...
samran Posted August 2, 2006 Share Posted August 2, 2006 Banks have a marge between central bank official rate and what they offer to the public .if 6 % central bank i will be surprise to see more of 4.75 % on deposit and less of 7.75% on borrowing ! i hope not to see a 6% on deposit to soon . thailand got many hike the last few months too . Be suprised, be very suprised. ING Direct (www.ingdirect.com.au) is offering 5.85%. Online account, small overheads, so they can pass on the rate to savers. No minimum deposit, no minimum term. Thai banks are slowly but surely realising that they have to pass on decent interest rates to their consumers, but this has not reached the level as we see in the west where real competition has forced banks to pass on the good interest rates to their customers. Link to comment Share on other sites More sharing options...
wamberal Posted August 2, 2006 Share Posted August 2, 2006 How many retirees live off fixed interest? I hope they also have some growth investments for the longer term. Link to comment Share on other sites More sharing options...
thohts Posted August 2, 2006 Share Posted August 2, 2006 How many retirees live off fixed interest?I hope they also have some growth investments for the longer term. Fixed interest is a safe investment for retired people. One never knows which way other investments will go. I'll take a steady 5% a year over "somewhere between" -60% and +60% yearly growth. And if you have enough money, you already know where the safe investments are that will give you 15% + per year Link to comment Share on other sites More sharing options...
TizMe Posted August 2, 2006 Share Posted August 2, 2006 Fixed interest is a safe investment for retired people.One never knows which way other investments will go. And if you have enough money, you already know where the safe investments are that will give you 15% + per year These two statements contradict each other.. Link to comment Share on other sites More sharing options...
thohts Posted August 2, 2006 Share Posted August 2, 2006 Fixed interest is a safe investment for retired people. One never knows which way other investments will go. And if you have enough money, you already know where the safe investments are that will give you 15% + per year These two statements contradict each other.. Most people are not aware that these investments exist (because they are not financially qualified), and thus would not be included in my "other investments" statement. But if you happen to have enough money... Link to comment Share on other sites More sharing options...
JimsKnight Posted August 2, 2006 Share Posted August 2, 2006 Banks have a marge between central bank official rate and what they offer to the public . if 6 % central bank i will be surprise to see more of 4.75 % on deposit and less of 7.75% on borrowing ! i hope not to see a 6% on deposit to soon . thailand got many hike the last few months too . Be suprised, be very suprised. ING Direct (www.ingdirect.com.au) is offering 5.85%. Online account, small overheads, so they can pass on the rate to savers. No minimum deposit, no minimum term. Thai banks are slowly but surely realising that they have to pass on decent interest rates to their consumers, but this has not reached the level as we see in the west where real competition has forced banks to pass on the good interest rates to their customers. I think its 6% is it not? Which is due to expire at end of August (when it returns to 4.5%). Gotta check that out! Link to comment Share on other sites More sharing options...
roderick17 Posted August 2, 2006 Share Posted August 2, 2006 How can I get 7.5 % on my aussie dollars without putting my money at risk ? In other words, what is a gilt edged security that will pay me this amount. Link to comment Share on other sites More sharing options...
Charma Posted August 2, 2006 Share Posted August 2, 2006 Looks like UK interest rates are going to stay fixed. Any UK bods out there that have set up an aussie savings account? Any issues? Link to comment Share on other sites More sharing options...
bmanly Posted August 3, 2006 Author Share Posted August 3, 2006 Banks have a marge between central bank official rate and what they offer to the public .if 6 % central bank i will be surprise to see more of 4.75 % on deposit and less of 7.75% on borrowing ! i hope not to see a 6% on deposit to soon . thailand got many hike the last few months too . For online cash accounts it does match the RBA or even betters it sometimes. Here are some examples, these rates are before the current increases. Easystreet 5.81% Bankwest 6.4% and after the intro it drops to 5.75% INGdirect 5.85% and it won't be going down now. Link to comment Share on other sites More sharing options...
bmanly Posted August 3, 2006 Author Share Posted August 3, 2006 How many retirees live off fixed interest?I hope they also have some growth investments for the longer term. Quite a lot would have some interest bearing accounts for safety, good income and for having amo up your sleeve should there be a sharemarket crash or correction. Cash is king during those tough times and you need to be in a position to pounce on under valued shares. Link to comment Share on other sites More sharing options...
simcity Posted August 3, 2006 Share Posted August 3, 2006 How many retirees live off fixed interest? I hope they also have some growth investments for the longer term. Quite a lot would have some interest bearing accounts for safety, good income and for having amo up your sleeve should there be a sharemarket crash or correction. Cash is king during those tough times and you need to be in a position to pounce on under valued shares. Bmanly i really do not think a retiree will put his nest egg into a online account ! look more what the main stream bank are doing ( anz / nat / wesp ) ! many retiree have the money into fund ! Link to comment Share on other sites More sharing options...
Charma Posted August 3, 2006 Share Posted August 3, 2006 Uk rates just raised a whole 0.25%. Whoopee! Link to comment Share on other sites More sharing options...
Lost in LOS Posted August 6, 2006 Share Posted August 6, 2006 for cd interest in the states check out www.bankrate.com. will list all cd rates. some above 6% now. us goverment insures one account per person with each different bank up ot 100,000. [ FDIC INSURED ] Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now