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Lower Interest rates – Thoughts From Twitter

Today the Reserve Bank of Australia (RBA) reduced interest rates yet again, here are the thoughts from Twitter. Includes the famous and not so famous commentators

Storified by humble savers · Tue, Dec 04 2012 01:38:59

The ABC News – Out of the blocks some 53 seconds after the announcement
#Breaking: The Reserve Bank of Australia has cut the official cash rate by 25 basis points to 3% #ABCNews24 #RBAABC News 24
The good doctor is a bit slower than the ABC but has some interesting statistics
#RBA cash rate is at its 2009 low.But mortgage rates r 0.65-0.8bp higher, the $A is 40% higher & fiscal policy is tightening not loosening..Shane Oliver
Very important point not missed by the ABC News and Tim Schroeders. Reducing interest rates is a game of swings and roundabouts. Some win (mortgage holders) some lose (deposit holders)
Good to see @abcnews reporting not only the mortgage benefit but impact on retirees of today’s RBA cut. Renters also losers. #rbaTim Schroeders
We have all heard this one before – Don’t hold your breath
Govt urges banks to pass on pre Christmas rate cut in full http://bit.ly/UlBIvP #RBAABC Radio
Wayne Swan took a while to get this one out on Twitter
Today’s rates decision means you’re $100 a week better off with Labor http://pic.twitter.com/CJ5uRPyTWayne Swan
Erin not such a fan of the Wayne Swan advertising
According to @SwannyDPM, you’re $100/week better off with Labor. Unless you rent, of course. But renters don’t matter. https://twitter.com/SwannyDPM/status/275831253759057920Erin Riley
Joe Hockey has his say – But not on his twitter account  – This from Laitika, on behalf of Joe. I guess we will wait from the RBA to explain more fully as to  why the rates came down, bit as highlighted before, they are not coming down because the economy is in great shape.
Shadow Treasurer Joe Hockey – everyone welcomes interest rate cuts but they are happening not because the economy is doing well.Latika Bourke
If you can’t wait to hear from the RBA as to why they reduced rates, you might like the explanation from Chartered Accountants 
Institute comment on today’s #RBA interest rate decision http://ow.ly/fNGUQCharteredAccountants
So, we now have money to spend up big on housing.
Agents say the #RBA rate cut has given the auction market an instant boost http://bit.ly/SIyUcmDomain
Add a bit of good old fashioned common sense
Today’s #RBA rate cut is great but not a magic solution to financial pressure. Continue to budget to take full advantage. #moneyThe Numbers Lady

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