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Tuesday, November 04, 2008

The Rate that Stopped a Nation

Will more people be interested in the 0.5 percent predicted cut in interest rates at 2.30pm or the Melbourne Cup at 3pm.

Which one will pay down your mortgage faster? I was surprised to hear that the pace of betting is consistent with two years ago and bets of hundreds of thousands of dollars are being placed. Tough times indeed.

Personally I like some of the horses names. Honolulu, Profound Beauty and Zipping.

It certainly is a fun day in the office.
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2 comments:

The Tin Drummer said...

Hmmm, we had a rate cut here today: 1/5%!! There go my hopes of living off my savings...

Colin Campbell said...

In the end it was 0.75 percent after 1 percent last month. Now the most profitable banks in the world are crying poor about passing on these cuts to their long suffering customers. That after the government guaranteed all deposits. Tough life being a banker.