25 Jan – 29 Jan 2016

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The main event of the week was the release of December quarter CPI figures which returned a slightly higher headline rate than expected. The underlying rate however fell to the low of the RBA’s target band. Cash markets responded by cutting the probabilities of rate reductions but not in any great way; February and March are seen as unlikely, April is seen as a 40% chance of a rate cut and May is a 55% chance. August is still seen as relative certainty for a rate cut and an additional rate cut to 1.50% by January 2017 is priced as a 1 in 4 chance.

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%.

cashrate-29jan
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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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