Interest rates cut to boost retail spending for Christmas

The Reserve Bank of Australia (RBA) has cut interest rates By 25 basis points,the first cut since April 2009, handing borrowers a win on Melbourne Cup Day.

Michael Luca, the mortgage broker guru from Liquidity Finance, said that this is the breather that the Retail Sector have been asking for, that should provide a boost to retail spending going into Christmas.

“There has never been a more important time to talk to us about your home loan options to see what other offers may be out there for you.” Luca said.

Bill Evans, senior economist for Westpac, predicted a further interest rate fall in the next 12 months.

The Australian dollar fell after the announcement. At 3:30pm (AEDT) it was buying 104.6 US cents.

For more information on your home loan, call Michael luca at Liquidity Finance on 0405 113 543 or 02 9290 2777 or email on michael.luca@liquidityfinance.com.au

Posted on November 1, 2011