1. Don’t be alarmed as current deposit rates are likely to stay strong no matter what happens to interest rates over the short term. That’s because second-tier banks are keeping the pressure up on the big four by offering attractive rates on online accounts, term deposits and high-interest savings accounts.
2. Keep shopping around for the best rates on offer and don’t be afraid to switch banks for a better return on your cash.
1. Keep your eye on inflation: the RBA says it’s worried about inflation and that could force rates up, so make sure you inflation-proof your portfolio now rather than later.
2. Don’t overlook real estate bargains: if you’ve got a good credit profile, strike while rates stay low and house prices are gloomy. There are bargains to be had all over the country. See the current edition of Your Money Magazine at newsstands to read up on how to take advantage of the current weak property market, as well as our full list on Australia’s property hotspots.