Banks have already started cutting interest rates anticipating the Reserve Bank’s next move, but there are still reasonable deals to be found.
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With consensus solidifying that the Reserve Bank of Australia’s next change to the cash rate will be down, banks have reacted by cutting the interest rates they pay to savers on term deposits.
Canstar data insights director Sally Tindall says term deposit rates are based on a range of factors.
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Original URL: https://www.afr.com/wealth/personal-finance/the-window-to-make-decent-money-on-term-deposits-is-fast-closing-20240822-p5k4k3
