24 Aug – 28 Aug 2015

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In light of the tremendous volatility in global equity and commodity markets, starting in China and spreading to the rest of the world, analysts are revising down global growth forecasts. This has led to local markets now pricing an 84% chance of a 25bps rate cut by December 2015 and a 38% chance of a further cut down to 1.50% by June next year. These odds are substantially higher than the previous week, indicating cash market participants are increasingly of the view the RBA will cut rates at least once, and possibly twice in the next 9 months.

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

cash-28aug
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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 Esaver3.00%Zero w/draw pm up to $500k
Bankwest Solid Gold Saver2.25%$10k+
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 Ac2.90%
Heritage Online Saver2.70%$750,000+
ING Savings Accelerator2.75%$150k+
Macquarie CMA1.90%
ME Online Savings2.25%
NAB Isaver2.00%
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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