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Wizard becomes first lender to cut rates in seven years

October 11, 2018
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Economists say a combination of a slowing economy, deterioratingbusiness conditions and tight credit markets will ensure thecentral bank cuts interest rates this week. – Brisbane Times (The Brisbane Times — 31 August, 2008)
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Australian banks and lenders will have no excuse not to followWizard Home Loans’ lead and cut interest rates. (Sydney Morning Herald — 31 August, 2008)
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Treasurer Wayne Swan has urged banks to cut rates regardless of what the RBA decides tomorrow. (The Brisbane Times — 2 September, 2008)
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AUSTRALIA is entering a new era of consecutive interest rate cutsover the next two years, but it won’t produce a renewed housingboom, according to one of the nation’s leading economists. (Sydney Morning Herald — 31 August, 2008)
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The Reserve Bank has cut official interest rates by 0.25%, thefirst cut in seven years, while banks under pressure to pass onsavings to borrowers. – Brisbane Times (The Brisbane Times — 2 September, 2008)
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St George Bank steals march on its rivals, cutting variable homeloan rate by 0.3%. – Brisbane Times (The Brisbane Times — 2 September, 2008)
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St George Bank stole a march on its major rivals today by cutting its home loan rate by more than the big four. (Sydney Morning Herald — 17 hours ago)
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Australia’s central bank says it has cut its benchmark interest rate by a quarter percentage point to 7.0 percent in its first rate reduction in seven years amid slowing economic growth. (CNN — 2 September, 2008)
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Update Major banks agree to pass on 0.25% ratecut. – Brisbane Times (The Brisbane Times — 2 September, 2008)
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Two million households get some cheer but dollar’s fall could wipeoff gains. – Brisbane Times (The Brisbane Times — 11 hours ago)
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