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RBA call to reduce credit rates

The Reserve Bank of Australia (RBA) has called out the big banks for not reducing credit card interest rates in line with lower cash rates and reduced funding costs.

News

RBA probed over interest rates

While credit card cash rates are low, interest rates remain high, raising questions on whether Australia's big four banks are “gouging” consumers.

News

RBA cuts interest rate to record low

In a move aimed at stimulating economic activity, the Reserve Bank of Australia has cut the 2.5 per cent cash rate by 25 basis points to a new record low of 2.25 per cent.

News

Credit card reforms not working

Over the past year Australians have paid $800 million in credit card surcharges

Interest rates at record low

Yesterday the Reserve Bank of Australia (RBA) decided to lower the official interest rate to the lowest level since 1960.

Australia gets new money

The Reserve Bank of Australia (RBA) has been working for the last five years to create new banknotes. These will replace the Australian currency currently in circulation. Coins will not be affected, but the new banknotes are supposed to have a more “youthful” look.

Phones

The future of banking

There is nothing more annoying than having someone send you money via EFT and for the funds to not clear into your bank account until 24-hours later. Drew explains how mobile banking is changing the industry and when you can expect instantaneous money transfers.

People power

Interest rates are on the rise and the big four banks are taking no prisoners. Depending on which financial institution you bank with, your rate could have increased by as much as 10 basis points in the last week. This is despite the Reserve Bank of Australia (RBA) maintaining the cash rate at its last meeting.

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