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Sounds like you have a very reasonable wife/kids (can only dream) or none ?
It isn't that actually. A number of the components (education, white goods, alcohol & tobacco, house purchase, etc) in the CPI do not apply to me. For the others such as fuel costs or groceries, any actual monetary increase is minor - about $400 pa combined I estimate - and is easily accommodated within my finances and so I have no need to care about it.
Sounds like you have a very reasonable wife/kids (can only dream) or none ?
Well, technically true if interest rates are positive in real terms, otherwise savers/retirees are just going backwards less quickly.
Well, technically true if interest rates are positive in real terms, otherwise savers/retirees are just going backwards less quickly.
Well, technically true if interest rates are positive in real terms, otherwise savers/retirees are just going backwards less quickly.
retirees are just going backwards
Yep.As Belli points out "It isn't that actually. A number of the components (education, white goods, alcohol & tobacco, house purchase, etc) in the CPI do not apply to me. For the others such as fuel costs or groceries, any actual monetary increase is minor - about $400 pa combined I estimate - and is easily accommodated within my finances and so I have no need to care about it." I know quite a few people in the same position.
Quite true, but it does still require some financial nouse.Some aren't.
Yep.
But eventually I'm going to have to buy a new bogan ute... maintenance on the pile of bricks, replace the bore pump, buy a new pair of RM Williams boots, etc.
I'm up for cataract surgery sometime in the future and probably hearing aids, not to mention mobile phones which I manage to destroy with monotonous regularity.
And let's not mentioned the occasional culinary extravagance
All are affected by inflation over the long-term... 10, 20, 30 years henceforth.
I watched my mother's wealth (because she refused to do anything other than term deposits) from over a million dollars (when that was actually a shytload of cash) to 50k when she died, over 30 year period.
Hopefully, if I get to 90, I will be able to pay a nubile young lady to cut my wagyu beef up into small enough pieces to chew
There are no more Ute's for me, so I'll be keeping the one I picked up in 2014 until the day that I can't drive
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The RBA action yesterday was interesting for a couple of reasonsBigger than expected by whom? ... Interest rate movements in 0.25% increments have been a standard practice for quite a while now, to the point that any movement by a different amount would be notable.
- CBA and NAB are going for 1.35% by end of NovemberEconomists at the four major banks agree the cash rate will exceed 1 per cent by Melbourne Cup day, after the Reserve Bank took a decisively hawkish turn at Tuesday’s policy meeting, and stepped up the fight against inflation.
Are overpaid.pundits who get paid to prognosticate
Really, no insurance, no water, no electricity, no car, no taxi no transport you get internet?It isn't that actually. A number of the components (education, white goods, alcohol & tobacco, house purchase, etc) in the CPI do not apply to me. For the others such as fuel costs or groceries, any actual monetary increase is minor - about $400 pa combined I estimate - and is easily accommodated within my finances and so I have no need to care about it.
ROL...has any bank passed anything yet into deposit rates?
i was busy elsewhere today , but i would be ASTOUNDED if one( or some ) didhas any bank passed anything yet into deposit rates?
I can't see rates going that far without crashing the economy. They could even go down again by that pointThe RBA action yesterday was interesting for a couple of reasons
Now as @Smurf1976 states, a standard interest rate movement is 25 bips, and so we have an aberration. My prediction, for what it's worth, is that the next, post-election, lift will be 40 bips, to take it to 0.75%. Then the RBA could raise further in the normal increments. And possibly to be in the 2's sometime next year.
- It happened during an election campaign = tricky / delicate.
- It carried the rate up to 0.35% by lifting 25 bips from 0.10%
- lifting to 0.25% would have been inconsequential, while lifting to 0.50% would have been too political.
And for what it's also worth, pundits who get paid to prognosticate are positing further out.
- CBA and NAB are going for 1.35% by end of November
- Westpac is forecasting a move of 40 basis points in June on the way to a benchmark rate of 1.75 per cent by the end of the year.
- ANZ sits in between, anticipating the cash rate at 1.50 per cent by the end of the year.
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