In the 2 per
cent interest rate world we find ourselves today, the impact of fees, commissions and administrative charges is magnified.
Not exact matches
While that was a new low for Australian official
interest rates — the previous low had been 4.75 per
cent in the late 1990s — it was a relatively muted response compared with the very large cuts in
interest rates that occurred elsewhere in the
world.
Thus, even though the Fed has now restored the funds
rate to a relatively normal level of 4.5 per
cent,
world policy
interest rates on average remain well below normal.
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Among the explanations that have been put forward are the increased credibility of central banks in controlling inflation (inflation
rates remain below 3 per
cent across the developed
world), the low level of official
interest rates in the major economies reflecting low inflation and the continuing weakness in some economies, a glut of savings on
world markets particularly sourced from the Asian region, and changes to pension fund rules in some countries which are seen as biasing investments away from equities towards bonds.
This came the day after the prime minister, interviewed by Andrew Marr on BBC 1, talked of the 15 per
cent interest rates «in the last
world downturn».
In addition living in a zero
interest rate world has made every
cent spent on fees stand out.
We offer private, commercial and personal finance with very minimal annual
interest rates as low as 2.5 per
cent within 1 year to 50 years maturity period anywhere in the
world.
Those of you old enough to remember the early 1980s when the mortgage
interest rates hit 25 to 28 per
cent will recognize that regardless of
rates, economy and
world issues, that fact remains: people need to sell and people need to buy.