How the Reserve Bank's interest rate cut will affect vulnerable Australian retirees

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Retirees who rely on interest from their savings are among the biggest losers from last week's Reserve Bank interest rate cut - as term deposit and savings rates are slashed

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Yes, we saved for our days in the 'Twilight' years. Attacked by this credit card generation of wankers after every unearned dollar they can get from us.

Some are still of working age and should have put most of that money into super or property. for higher returns. Can’t help stupid

Of course, retirees deriving income from shares won’t have to worry about that. Thanks to those freebie franking credits.

At least they have their Frank credits.

Did they vote fr Scomo? How good are interest rate cuts?

Fuck em.

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CBA, NAB to cut savings interest ratesCommonwealth Bank and NAB will cut interest rates on savings accounts by up to 0.25 percentage points in response to last week's cut in official interest rates
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Unemployment figures likely to force interest rate below 1 per cent this yearAustralia's unemployment rate is now among the worst in the developed world and heading in the wrong direction. Their all lies anyway unemployment is another 6% higher than what they are telling you Australian Bureau of Statistics: Labour Force figures for the month of May. The participation rate in the country is at an all time high of 66%. Hmm, More jobs, more growth and more opportunities for everyday Australians PM Morrison 2019 As I have said before in this place. This mob would won't full employment like a hole in the head. Mr Cormman said that the Libs had purposefully kept wages low. In other words they new it would affect employment and encouraged it. High unemployment low wages. Wake up Aus.
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