RBA DECISION DISAPPOINTS AUSSIE JOHN

Written on the 18 November 2010

RBA DECISION DISAPPOINTS AUSSIE JOHN

AUSSIE John Symond, the man who spruiked that he could ‘save us’ from the big banks, has expressed disappointment at the RBA’s decision to lift the cash rate to 4.75 today.

“The Reserve Bank’s decision to lift the official cash rate 0.25 per cent to 4.75 per cent in my opinion is extremely disappointing and creates risks to the ongoing health of the Australian economy,” says Symon, the founder of Aussie Home Loans.

“I believe there is still much to be concerned about globally, with fears of a double-dip recession in the US and ongoing weakness in Europe. While the Australian economy is looking healthy, we still have to be mindful of what may come in the future.

“In all circumstances, however, it’s important for homeowners to be vigilant with their mortgages. Even though rates have gone up considerably since this time last year, it is still prudent to pay as much off your loan as possible. Even the cost of a cup of coffee a day can potentially cuts years off the life of the loan, and save thousands in interest payments.”

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