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Next To Nothing: US Interest Rates Close To Zero

The US Federal Reserve has set key interest rates to a record low zero to 0.25% in a desperate bid to stimulate the US economy which is looking increaingly sick Rates are likely to remain this low for quite some time, the Fed stated. The cut brings the federal funds rate to the lowest level […]

The Great Australian Tax Grab

How’s this for short-sightedness: The New South Wales Government’s infinite wisdom to increase taxes by $3.6 billion AUD to compensate for their years of inept mismanagement of states coffers will have a huge impact on the property sector at a time when it can least afford it. NSW Labor Premier Nathan Rees and Treasurer Eric […]

Australia Will Likely Avoid Recession

Australia’s economy will avoid a recession next year, helped by lower interest rates, government spending and exports. A recent Report (Economic Outlook No 84) by the Paris-based Organization for Economic Cooperation and Development (OECD) stated that the Australian economy will grow 1.7 percent in 2009 from 2.5 percent this year, before accelerating to 2.7 percent […]

On The Cards: Another Australian Interest Rate Cut

The Reserve Bank of Australia (RBA) will meet on Tuesday 2 December and, the Marquette Turner team expect, they will make a fourth consecutive cut to the official interest rate. A survey of 18 economists by the Australian Associated Press revealed the following: All 18 economists believe the RBA will cut interest rates 11 economists […]

WISE GUY: Why Does the Australian Dollar Suddenly Have So Few Friends?

It was almost like you went to put the kettle on during the ad break and everything changed with the Australian Dollar: one minute we’re pushing (almost) the 1 AUD for 1 USD and within a few months the AUD is struggling to buy 60 cents US. Not being an economist, and learning on the […]

Short Vs Long-Term Interests: The Challenge For Australia’s Banks

The Reserve Bank of Australia’s (RBA) decisions to decrease interest rates over the last few months were welcomed by borrowers and lenders alike, most recently with the 0.75% cut in October and the 1% cut in September. The reality is, however, that most of Australia’s lending institutions have chosen not to pass on the full […]

Reserve Bank has blood on its hands – We must have further interest rate cuts – NOW!

Continued: Part 2 of a 2 Part Report The massive decrease in housing sales volumes has decimated State Government budgets as they lose hundreds of millions of dollars in would be stamp duty revenue. The flow on effect through to builders, other trades people, real estate agents and so many others throughout the economy is […]

Reserve Bank has blood on its hands – We must have further interest rate cuts – NOW!

Part 1 of a 2 Part Report (read Part 1) Yesterday’s rate cut of 75 basis points 0.75%) was the right decision by the Reserve Bank of Australia (RBA). Fifty points (0.5%) definitely would not have been enough after the release of some of the worst economic data in many years. I had predicted in […]

Australian Interest Rates Slashed by 0.75%

The Reserve Bank of Australia (RBA) has cut its key interest rate for the third month in a row as it attempts to prevent Australia’s economy stalling. The central bank trimmed three-quarters of a percentage point – or 75 basis points – off its key cash rate, reducing it to 5.25%, the lowest level since […]

China compared to the United States – Just How Big Is It?

China has just cut interest rates by 27 basis points as they react to the global slowdown. Consumers worldwide are keeping purses in their handbags and with China’s two largest trading partners, Japan and the United States in economic decline, China is indeed feeling the effect. There has been a lot of talk about China’s […]

Simon Turner’s “The Real State”: Aiding The Bubble Will Just Aid The Burst

Keeping up with the ever-changing commentary and realities of the Australian and worldwide economy (which don’t necessarily work in-congruence) can be pretty daunting. Whilst no economist myself, I nonetheless happily offer my opinion on “the real state” of play as I see them. There have been a number of moves taken by Kevin Rudd of […]

How An Idea From Florida Could Help Australian Real Estate

Prices for homes in Australia have risen in the first half of 2008, according to the Real Estate Institute of Australia (REIA). The REIA report that median home prices rising across the country to $A459,216 by June 2008, up a slight 0.05% for the quarter and 6% for the previous year. Despite a decrease in […]

Australia is Ranked Number 1 in the World!

Australia has topped an index of the world’s most prosperous nations, with economic stability and high quality of life putting it over the edge. The index, produced by Dubai-based investment group Legatum, measured 104 nations against levels of wealth, quality of life, and life satisfaction. Australia tops the list, with Austria and Finland rounding out […]

Is the US Heading for a Recession or the Almighty “D” word?

On my way across to the US yesterday I really couldn’t help but hear people on the plane discussing the state of the US economy. Confidence is very low and it would seem as a foreigner that Americans are looking for change which seems to be Barack Obama. The Americans I have met so far […]

Australian Banks Quickly Respond to Rate Cut

Michael Marquette: In what can only be described as a momentus day for Australian real estate, most of the country’s largest lenders have already chosen to pass on the majority of the 1% interest rate cut to borrowers. The Commonwealth Bank, National Australia Bank and Westpac have reduced their variable rate by 0.8% of the […]

BREAKING NEWS: Australian Interest Rates Cut By 1%

Pundits, experts, and economist’s alike all predicted that the Reserve Bank of Australia (RBA) would today cut interest rates, but by a whole percentage point (100 basis points) is quite dramatic. The cash rate now stands at 6%, down from 7%, with some predicting that rates may even fall to 5% in 2009. Worldwide stock […]

Just how much is $US700 billion?

With both the United States’ Senate and House of Representatives having approved the $700 billion bailout of the US economy, and President George W Bush having signed the act into law quicker than you could blink, now begins the blame game to see how this crisis snuck up upon so many. I, however, thought I’d […]

“The Real State” by Simon Turner: How Safe are Houses?

The global market’s erratic performance over the last week has certainly called into question the financial strategies of many (including, it could be said, of the hapless President George W Bush). Regardless of whether one agrees or not in principle or practice with the Federal bailout in the United States, we should at least begin […]

Australian Property Shines for Buyers Overseas

It’s amazing what can change in quick time. The stock market is continuing to fall and the consequences are far from known. It’s difficult to say when it will stop after the Dow Jones suffered its biggest single day loss in history this week. Institutional investors are selling, preferring to hold cash and wait to […]

The arrival of the luxurious Qantas A380 aircraft

On Sunday 21 September, Australian airline Qantas, will welcome to Australia the first of 20 of its luxurious A380 aircraft, having flown via Singapore from the Airbus factory in Toulouse, France. Affectionately referred to as the Super Jumbo, the aircraft will be welcomed into the Qantas fleet at a ceremony in Sydney which Simon Turner, […]