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KMsAngel -> RE: I love it when..... (10/16/2008 2:56:52 AM)
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i love this interesting tidbit. mind you, it's ONE analyzer, not the government saying this.....:
interest rate fall
Australian interest rates are tipped to fall to the lowest level since the aftermath of the September 2001 terror attacks as the central bank worries about a recession.
One Sydney academic is even forecasting an unprecedented zero interest rate by 2010 on the premise that debt-laden consumers will close their wallets and threaten to push the economy into a deep economic contraction.
Macquarie Group interest rate strategist Rory Robertson said the Reserve Bank of Australia (RBA) would cut the cash rate, now at six per cent, to 4.25 per cent over the next year as global financial market turmoil put the economy under pressure.
That would be equal to where the cash rate was in December 2001 in the aftermath of the September 11 terrorist attacks in the US.
Interest rates have not fallen below that level since the RBA began publishing a target interest rate in January 1990.
counting out my pennies now...
i love this because currently i have very little debt to my name. and i've never owned a house, or co-owned one, so the government likes to give me $14K just to say, here- have a house!
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