07/08/08 - Banks can lower interest rates
Interest rates could fall by more than the quarter of a per cent the Reserve bank usually moves rates by.
The 90 bank bill swap rate has fallen 40 basis points to 7.35 per cent in the past three days.
The overnight indexed swap rate has fallen to 7.03 per cent, or 22 points below the official cash rate set by the RBA at 7.25 per cent.
Analysts said banks may have room to move rates down by more than the moves by the Reserve Bank. - Source: The Australian
Yours with Ethics and Passion
George Mihos,
Melbourne
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