National Australia Bank has joined the other big banks in passing on the Reserve Bank's 25 basis point interest rate rise in full, and the US Federal Reserve is set to raise US interest rates again at this week's meeting.The Dow Jones index rose 0.2pc to 33,129, the S&P 500 0.5pc to 4,176, and the Nasdaq rose 12,564
Traders see a 50-basis point interest rate increase as virtually a sure bet with a 99.9 per cent chance of a lift in borrowing costs after recent comments from US Federal Reserve officials including chairman Jerome Powell.Meanwhile, ANZ said half year net profit increased by 20 per cent from the same time last year to $3.5 billion.Investors get a dividend payout of $0.72 cents a share for the half, fully franked.
"While still in soft launch, the first 'savings and transact' product on ANZ Plus, a proposition focused on helping customers better manage their financial wellbeing, is tracking well and will become the core deposit and transaction product offered to new customers."US stocks ended higher after a choppy session in which the major indexes fluctuated between gains and losses as the Federal Reserve's meeting got underway.
'Hike' rates? I think not. An increase of 0.25% is miniscule. Why does the dopey ABC media blow this up as if it were a disaster that will bring down the world. Here's hoping the RBA will keep on making miniscule increases to rates till they reach a reasonable level again.
Banks are only after profit!
Yeah... Cost of living going up so they raise the cash rate so the banks raise interest rates, which in turn causes the cost of living to go up.
banks saved a lot during last year 🤣🤣🤣
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