18 Jan – 22 Jan 2016

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Domestic economic data releases made little difference to cash markets over the week. As in the week before, cash markets don’t rate the chance of a rate cut in February as being very likely although the odds increased a little. However, this view changes significantly in the months from March onwards. Prices were implying a 1 in 3 chance of rate cut in March, rising to a 6 in 7 chance of rate by June and by August it is seen as a certainty. Further rate cuts are also viewed as a possibility and by January, 2017 there is a 1 in 3 chance of a second reduction down to 1.50%.

There were no changes in our cash accounts table over the course of the week.
Across all the cash accounts in the Yield Report survey, the average rate remains at 2.46%.

cashrates-22jan
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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 Account2.15%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 Savings2.00%
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

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