Reserve Bank Takes Everyone By Surprise, Even Seven & Nine…

As has become common lately, every month on the first Tuesday of the month when the Reserve Bank of Australia meets to announce what or if any movement is necessary in the official interest rate Channel’s Seven and Nine have a breaking news break at 2:30pm to announce any change as it happens.

Today analysts were expecting the Reserve to cut rates by 0.5% with a lot of the talk speculating if the banks you pass on this cut or not. The big surprise for everyone was that the Reserve Bank cut rates by a massive 1% catching analysts and the networks going live to air by surprise.

Nine broke into programming at 2:27pm to get in before the announcement was made, joining Wendy Kingston at the news desk was finance editor Ross Greenwood who was taken by surprise by the announcement of the 1% cut having to check his sources a few times during the telecast.

Seven broke into their programming about a minute after Nine with Samantha Armytage crossing over to Macquarie Bank to get the latest news on the interest rate cut, followed by a cross to David Koch outside the Reserve Bank to give his take on the interest rate cut.

Hopefully this will not only help relieve home owners but will also help out the situation on the share market, no doubt we will be hearing more in the coming days.

Feel free to use any images or content on this site, but please provide a link back to where you found it, and don't forget to subscribe via RSS or the new e-mail subscription.

Popularity: 7% [?]