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Don’t Expect a Rate Cut in August

Wednesday, 25 July 2012 17:49

Well if you are paying off a mortgage or if you are a self funded retiree like many I cannot see the Reserve Bank Board cutting rates when they next meet. Figures`out show consumer prices rose 0.5 per cent in the June quarter, climbing only 1.2 per cent over the past financial year. That is the lowest annual inflation rate since the June quarter of 1999.

The Bureau of Statistics figures show the biggest price rises in the quarter were for medical and hospital services (up 2.8 per cent), rents (up 1.1 per cent), vegetables (up 5.2 per cent) and furniture (up 4.5 per cent).

The biggest price declines were for domestic travel and accommodation (down 4 per cent), audio, visual and computing equipment (down 3.8 per cent), and cakes and biscuits (down 2.8 per cent).

As I said based on the figures I cannot see any further rate reductions at this stage.

BARRY MAC'S BLOG

A Conversation We Need To Have

We will all die and we will all, at some time, probably care for someone who we love who is dying and we're so much better able to cope with that when we can support them by doing what they want. I guess it’s a subject we don’t want to discuss but a new survey has found one in two Australians who have recently lost a loved one had not discussed their dying wishes. The survey by Palliative Care Australia also found that only 15 per cent of those who died had left... Read more

On The Road At Last

For young people living out of main town centres, getting 120 hours of drive time can be a real challenge, especially if they don’t have a car or a person (or people) who can supervise their driving. And, without a drivers licence, they cannot get jobs in nearby towns (ie Nowra) or cities (ie Wollongong). They are at risk of becoming long term unemployed. Funding through the Australian Government via the Local Employment Coordinator’s Flexible Funding Pool has been gained to address this issue and try to break the cycle of no licence,... Read more

Aussies Living Overseas

Australians love to travel. According to the Australian Bureau of Statistics, 115,672 of us left home for a long-term stay of two years or more between 2011-12. But how much difference does a stint overseas make to your life in the long term. Does it offer you any particular advantage? And what brings people back home? I remember some of my friends living in London for a couple of years. They really missed home and took on all sorts of jobs just to survive. I think most were working 18 hours a day just to pay the... Read more

BARRY MAC'S BLOG

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