Movember Roundup

Good Morning Happy Movember!

Most of you will know I always support Movember, it’s an important month for me especially around supporting research for Prostate Cancer and Depression.

This year I am supporting it along with my partners at DFK Everall’s. No pressure to give as I completely understand that its every other week that someone asks for a donation.

If you’d like to donate here is the link https://movember.com/m/14331293?mc=1

I think its widely held belief that with last weeks announcement that we are out of recession that the RBA won’t decrease the rate for Cup Day tomorrow. Which is a relief from many corners of the market, including mine. We have some of the lowest rates in our history right now, however as I have touched on before this isn’t a great sign for not only the economy but banking in general. As we have moved closer to zero banks have tightened up lending, COVID tightened that up even more with some industries and clients not being lent to at all.

While this ‘out of recession’ doesn’t mean we are out of the woods, hopefully it does mean that we can look towards an upward trajectory and some stabilisation with QLD re-electing Labor and re-opening their borders to most… AND the US election finally coming to head this week.

No Major changes to interest rates this week, with many lenders holding their ground.

I hope you all have a wonderful week and have a win on the Cup!

JC

Scenarios and interest rates quoted above are suggestions and constitute general advice only.