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Thread: The Reserve Bank has again cut lending rates

  1. #1
    Super Grandmaster blunomore's Avatar
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    Default The Reserve Bank has again cut lending rates

    Another 100 basis points.
    Quote Originally Posted by jingaling View Post
    Blu, you're a genius.

  2. #2
    King of de Jungle Garyvdh's Avatar
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    yay!

  3. #3

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    Why don't they just say 1%?

  4. #4

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    Damn.

    Yes, yes, I know it's good for all of you with debt/bonds. But it's not good for those of us with money in the bank!
    ~Knowledge is Power~

  5. #5

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    Quote Originally Posted by Waaib View Post
    Why don't they just say 1%?
    100 sounds better than 1!
    Good news yay!!!

  6. #6
    King of de Jungle Garyvdh's Avatar
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    Quote Originally Posted by Waaib View Post
    Why don't they just say 1%?
    it's their way of being fancy shmancy!

  7. #7

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    What did it go down to and then up to and what is it on now?

    Basically if people bought a house and were able to afford the repayments before it went up they've been having a hard time. How close is it to when it was at its lowest?
    Last edited by Waaib; 24-03-2009 at 04:41 PM.

  8. #8

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    Quote Originally Posted by Garyvdh View Post
    it's their way of being fancy shmancy!
    Actually...

    If the rate is, say, 12%, and they say it's come down by 1%, it would techically mean it had come down by 1% of 12, which would mean it's 11.88%. So they can either say it's come down 100 basis points, which is the fancy shmancy financial term, or they can say it's come down by 1 percentage point, which is not the same as 1%.
    ~Knowledge is Power~

  9. #9

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    Prime at it's lowest point in the previous cycle was 10.5%, then increased to 15.5% and is after today's cut 13%. They will cut is further during the rest of the year. Some say another 1% at the end of April.

  10. #10
    Super Grandmaster killadoob's Avatar
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    Default

    1% to means 1% off the rate, you got all confuzzled there for a second cath

  11. #11
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    Quote Originally Posted by CathJ View Post
    Actually...

    If the rate is, say, 12%, and they say it's come down by 1%, it would techically mean it had come down by 1% of 12, which would mean it's 11.88%. So they can either say it's come down 100 basis points, which is the fancy shmancy financial term, or they can say it's come down by 1 percentage point, which is not the same as 1%.
    Jip, agreed

  12. #12
    Super Grandmaster blunomore's Avatar
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    Does anyone have a table calculating the actual monthly saving on a bond?

    Thanks
    Quote Originally Posted by jingaling View Post
    Blu, you're a genius.

  13. #13
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    Quote Originally Posted by blunomore View Post
    Another 100 basis points.
    and?

  14. #14
    Super Grandmaster blunomore's Avatar
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    Quote Originally Posted by subculture View Post
    and?
    yes.
    Quote Originally Posted by jingaling View Post
    Blu, you're a genius.

  15. #15

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    Quote Originally Posted by blunomore View Post
    Does anyone have a table calculating the actual monthly saving on a bond?

    Thanks
    Here a nice visual graph:

    http://www.fin24.com/tools/Calculators.aspx?Calc=Home

    Cheers
    Paul

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