Bill Evans: Some deposit rates to turn negative

By in Australian interest rates

| 18 comments

Nice little summation from our Bill.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments

  1. mikef179MEMBER

    That’s OK, I’ve given up on try to save AUD anyway. If the banks don’t really want my money I’m happy to oblige and move it elsewhere.

    • MathiasMEMBER

      ” QE will be the only policy they have available to them “.
      ” Bonds to rise to 1.25% ”
      ” AUDUSD to push high into 0.80 “.

      So yeah… 2021… a year of money printing.

      Uncle ScoMo is the man with the money. Its Mr Bling. The man with the cash. Who’s been naughty and who’s been nice. Who will Uncle ScoMo give his money to this time? We can just keep printing until the Aussie Dollar ends up practically worthless.

      We know a huge chunk will be going into houses.

      Its been a pretty eventful 2020. A lot of stuff has happened this year. So we are all thinking 2021 will be stable. Im not so sure about that.

  2. Kolchak

    Yep. No way I’m paying for the bank to use my money. Just not happening. Hope Bill Evans likes bank runs.

    • happy valleyMEMBER

      But remember the deposit guarantee is worthless and LNP/Lab have ensured that there will be deposit bail-in.

  3. PeterMEMBER

    Personally, I’ve become much more positive on Oz
    – rising commodity prices lifting ToT and nominal GDP
    – this will boost State and Commonwealth budgets
    – massive fiscal transfers have been saved and those funds can be spent as consumers become more confident
    – labour market recovering and wage growth set to pick up – at least a little
    – inflation set to our perform the doves
    – business investment to remain weak but residential is clearly recovering and mining set to recover too

    Plenty can go wrong of course, but the arrow is now ☝🏻

  4. happy valleyMEMBER

    This is economic orgasm for Bill – nothing more enjoyable than to see retail depositors r.ped. Oh what a feeling! Should pop in on Captain Phil and crack open a bottle of Cristal to celebrate the destruction, literally and figuratively, of savers and depositors.

    • Rich Dick

      Bill said ”corporate and institutional deposit rates” not retail depositors. DLS’s title is a bit alarmist, like he’s started writing paid articles for Domain or Nathan Birch??

      • happy valleyMEMBER

        Thin edge of the wedge for Bill – when retail depositors are destroyed, would be the ultimate delight.

  5. Janet

    I guess we can optimistically look forward to an increase in the muggings and stabbings statistics, as all and sundry; the elderly especially, start informing the teller that they’ll “Take that in $100 notes please”.

  8. MathiasMEMBER

    Remember when Australia actually had Jobs? Those where certainly the days.

    Now the Government blackmails you for money.