Hi
I've been reading in the newspapers that some banks are increasing the interest rates for home loans. Wondering what the liklihood of term deposit interest being increased? I only have a couple of days to decide if I'll reinvest my money in another term deposit. It is currently with UBank and I'll get 2.81% for reinvesting for six or 12 months. Currently getting 2.87% in a transaction account which comes with some conditions which are easy for me to meet. But it is possible the rates for the transaction account can reduce so trying to figure out if it's best just to reinvest in term deposit. I know there are no guarantees but just wanted some opinions from those than have more experience with investing than I do. Thanks you for your help.
Most likely banks will only increase home interest rates and not term deposit rates.
As this is not linked to a reserve bank increase and more to do with the cost of sourcing lending.