Cash 28 Sep – 02 Oct 2015

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Compared to the previous week, this week was quite subdued although the lower than expected inflation number caused a number of economists to forecast a cut to rates at the 3 November RBA board meeting. The majority of economists though fall into the camp of a cut in the first quarter of 2016 and market pricing reflected that. Cash rate futures are now pricing in a 44% chance of a November rate cut rising to 76% chance by Christmas and with a cut by February seen as a certainty. Further, a second cut is being priced by markets as a 54% chance by May and a 72% chance by August. All these odds are higher than prior to the CPI release, although they eased back a little from the heights they reached on the day of the release.

There were no changes to our cash accounts table this week.

151102 Cash Rate Futures Chart

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CASH ACCOUNTS

ProductInt p.a.Special Cond
AMP Saver Account2.60%31 days’ notice
AMP Notice Account2.70%
ANZ V2 Plus0.50%1 dep no w/draw mth
ANZ Progress Saver2.71%Min balance $5,000
Arab Bank Online Savings2.30% Up to $500k.
Bankwest Smarter Esaver2.80%Zero w/draw pm up to $500k
BoQ Cash Man Account2.15%Limit 1 w/draw pm
BoQ Bonus Interest Savings2.75%$250k+
CBA NetBank Saver1.85%$200pm dep, $100k lim, 1wd pm
CBA Goal Saver Ac2.80%
CUA eSaver Plus Account2.90%
Heritage Online Saver2.70%$750,000+
ING Savings Accelerator2.75%$150k+
Macquarie CMA1.90%
ME Online Savings2.25%
NAB Isaver1.90%
NAB Reward Saver3.05%1 dep no w/draw mth
Rams Saver Account3.60%$200 pm no withdrawal
Suncorp eOptions1.90%
Usaver2.31%$200 pm up to $200k
Usaver Ultra3.37%Up to $200k +$2k pm dep
Westpac eSaver1.75%
Westpac Reward Saver2.50%dep $50 and no withdrawals

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