Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Funding costs ease

Staff Reporter 1 minute read

Australian funding costs have eased following the government’s announcement that it would guarantee bank deposits and wholesale funding.

According to Bloomberg, the premium charged to exchange floating for fixed rate interest payments in Australia, for a one year period, shrank to 99 basis points this morning.

This compares to 157 basis points on Friday, and reflects the biggest decline in funding costs since 2002.

The stock market also opened significantly higher today, with the weekend’s G7 meeting and local initiatives seemingly improving investor confidence. The S&P/ASX 200 rose 2.27 per cent to 4050.70.

Published: 13-10-08

Advertisement
Advertisement

Today's other news

 
Funding costs ease
default
TheAdviser logo
default
more from the adviser
houseandmoneyrates ‘Don’t rush in’: Risks of new housing scheme flagged

Broker support is critical for borrowers looking to capitalise on...

speed boat ta AFG welcomes specialist lender to its panel

The aggregator has welcomed specialty asset finance lender Austra...

business handshake 2 Finsure expands third-party team, appoints new BDMs

The mortgage aggregator has announced the appointment of new busi...

FROM THE WEB