RBA cuts interest rates again
The banks have responded quickly to the RBA’s reduction of the cash interest rate by a further quarter of a per cent to 5.5 per cent.
The 25 basis point reduction was matched by some mortgage lenders, with Westpac, Wizard and Aussie Home Loans all carrying through the quarter per cent easing of official interest rates.
The RBA has cited both international and economic conditions as being the main rationale behind the rate cut. Concerns about a slower growth outlook for 2001 in both the US and Australia, as well as a softening employment market locally led the RBA to making the cut, which was widely expected amongst economists.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
