- 8 August 2016
UK Interest Rate Cuts Show RBA Is A Joke
The decision by The Bank of England to cut interest rates from 0.5% to 0.25% shows the RBA in Australia is an international joke with an interest rate setting of 1.50% according to Kevin Young, President of Property Club.
Mr Young said the UK had an unemployment rate of just 4.9% compared to nearly 6% in Australia.
“Despite this, our interest rates are now six times higher,” he said.
“And it also expected all the major financial institutions in the UK will pass on the full rate cut unlike Australia.
“The RBA has presided over world high interest rates and an arrogant banking sector that is dominated by the big four banks.
Young says it is a fact the RBA has the levers to pull that could force the banks to pass on the full rate cut to mortgage holders.
“Property Club supports the call for a Royal Commission into the banking sector but believes the terms of reference should be widened to include the operations of the RBA,” Young said.
Related Posts
More Than a Boomtown
WA’s lifestyle pull is powering the next wave of smart investment. Western Australia is back in the spotlight and this time it is not just resources driving the boom. The state has become Australia’s lifestyle magnet, drawing new residents from across the country and around the world in record numbers. According to...
- 30 October 2025
The Metro Is Redrawing Sydney’s Property Map
In Sydney, convenience is currency. Nowhere is that more evident than around the city’s new Metro North West line. Buyers who moved early, often during the dust and disruption of construction, are now sitting on gains of up to 39 per cent compared to similar homes just a few streets further away. Domain’s new data...
- 30 October 2025
Western Australia: Still Australia’s Economic Powerhouse
Western Australia has once again taken the crown as the nation’s strongest economy, leading the CommSec State of the States rankings for the fifth consecutive quarter. The West continues to outperform every other state and territory, driven by strong household spending, high housing finance activity, and record...