RBA DECISION DISAPPOINTING SAYS AUSSIE JOHN

RBA DECISION DISAPPOINTING SAYS AUSSIE JOHN

AUSSIE John Symond (pictured), the man who spruiked that he could ‘save us’ from the big banks, has expressed disappointment at the RBA’s decision to lift the cash rate to 4.75 today.

“The Reserve Bank’s decision to lift the official cash rate 0.25 per cent to 4.75 per cent in my opinion is extremely disappointing and creates risks to the ongoing health of the Australian economy,” says Symon, the founder of Aussie Home Loans.

“I believe there is still much to be concerned about globally, with fears of a double-dip recession in the US and ongoing weakness in Europe. While the Australian economy is looking healthy, we still have to be mindful of what may come in the future.

“In all circumstances, however, it’s important for homeowners to be vigilant with their mortgages. Even though rates have gone up considerably since this time last year, it is still prudent to pay as much off your loan as possible. Even the cost of a cup of coffee a day can potentially cuts years off the life of the loan, and save thousands in interest payments.”


Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Netflix NT drama series Territory to debut in October

Netflix NT drama series Territory to debut in October

Netflix is set to launch its next blockbuster Australian drama seri...

American Express to pay $8m fine over inappropriate targeting of co-branded David Jones credit cards

American Express to pay $8m fine over inappropriate targeting of co-branded David Jones credit cards

American Express Australia (Amex) has been ordered to pay an $8 mil...

Results from Juukan Gorge show 47,000 years of Aboriginal heritage destroyed in mining blast

Results from Juukan Gorge show 47,000 years of Aboriginal heritage destroyed in mining blast

Aboriginal and Torres Strait Islander readers are advised this arti...

From Michael Hill to Adore Beauty, retailers rise on positive sales results

From Michael Hill to Adore Beauty, retailers rise on positive sales results

A handful of retailers including jeweller Michael Hill Internationa...