Recently I had a look at mortgage lending rates to determine whether or not the popular MSM meme of out-of-cycle cuts was happening. It wasn’t of course but the discussion has now shifted to deposit rates so let’s take a look at those.
From RBA data, here is the history of term deposits since the rate cutting cycle began and remember that the last cut was in August 2013:
The picture is similar if less beastly for savers in at call accounts:
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