Newspaper article The Chronicle (Toowoomba, Australia)

Lower Rates Make No Difference

Newspaper article The Chronicle (Toowoomba, Australia)

Lower Rates Make No Difference

Article excerpt

GENERATION Y consumers considering a property purchase look likely to stay on the sidelines unless there's more interest rate relief from the Reserve Bank of Australia (RBA), a national survey has found.

The Loan Market poll which asked a[approximately]How are the interest rate cuts affecting you?' found 50 per cent of Gen Y respondents said the two consecutive monthly reductions by the RBA hadn't made any difference to them.

Another 32% of Gen Y respondents said they had just been boosting their savings and more rate cuts by the RBA were needed.

Loan Market corporate spokesman Paul Smith said the European debt crisis was also weighing heavily on Gen Y consumers.

Mr Smith said in the overall response just 30% of the 813 respondents said the RBA cuts hadn't made any difference.

But he said 48% of the total survey sample also wants the RBA to make official rates lower, with the central bank's next rate decision on Tuesday, July 3. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.