08 Feb – 12 Feb 2016

Share

[private role=’subscriber’]

ANZ job ads were released on Monday, indicating nearly a 10% year on year rise which bodes well for the employment market and the Australian economy in general. National Australia Bank’s business survey on Tuesday and the Westpac-Melbourne Institute consumer sentiment figures on Wednesday were generally seen as neutral bordering on vaguely positive but they were given little attention as the rumours of Deutsche Bank’s solvency began to circulate on Monday night (Australian time) and financial markets reacted with alarm.

Cash markets responded by increasing the odds or likelihood of a cash rate reduction through 2016 and 2017. One 25bps rate reduction has already been priced into cash contracts as a certainty by September 2016.  Contracts for the months after September also price another 25bps reduction down to 1.50% almost as a 50/50 chance.

There were no changes to rates in our cash accounts table over the week.

cashrates-12feb
[/private]

[private role=’subscriber’]

CASH ACCOUNTS

ProductInt p.a.Special Cond
AMP Saver Account2.60%31 days’ notice
AMP Notice Account2.70%
ANZ Premium2.00%
ANZ Progress Saver2.51%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 Account2.05%Limit 1 w/draw pm
BoQ Bonus Interest Savings2.75%$250k+
CBA NetBank Saver1.80%$200pm dep, $100k lim, 1wd pm
CBA Goal Saver Ac2.70%
CUA eSaver Plus Account2.90%
Heritage Online Saver2.70%$750,000+
ING Savings Accelerator2.75%$150k+
Macquarie CMA1.90%
ME Online Savings1.80%
NAB Isaver1.80%
NAB Reward Saver3.10%1 dep no w/draw mth
Rams Saver Account3.40%$200 pm no withdrawal
Suncorp eOptions1.85%
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

[/private]