Home' InDaily : January 9th 2012 Contents Annual Advantage Package fee, currently $395 applies. Other fees and charges are payable, and terms and conditions apply. The 0.70% p.a. package discount is available for loans of $250,000 or more. For loans between $100,000 and $149,999, 0.25% p.a. discount will be applied and for loans between $150,000 and $249,999,
0.50% p.a . discount will be applied. No discounts apply for packaged loan amounts of less than $100,000. Eligible home loans include Standard Variable Rate Loans and Portfolio Variable Rate Loan. For full details of all relevant Advantage Package terms and conditions, including the eligible home loans, credit cards and transaction
accounts which may be included in an Advantage Package, are available on request. All applications for credit are subject to BankSA’s prevailing credit criteria. BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
There are many advantages to bundling your accounts into a BankSA Advantage Package. To start with you’ll save on your mortgage by receiving 0.70%p.a . off our
standard variable rate on selected home loans of $250,000 or more. You’ll also save on selected credit cards with no annual fee. And you’ll pay no monthly
account service fee on your Complete Freedom transaction account. What’s more, you’ll enjoy the convenience of having your accounts combined into one, easy
to maintain package. So, for these advantages and more, talk to BankSA today about an Advantage Package on 13 13 76.
The BankSA Advantage Package
(you’ll love every part of it).
BSA2049 8x8 Jigsaw 80x262.indd 1
22/12/11 4:11 PM
ECONOMIC OUTLOOK FOR 2012
Interest rates are almost certain to fall further early in calendar
2012 as the Reserve Bank of Australia responds to a weak global
economy caused by continued volatility and uncertainty in Europe.
BankSA general manager Chris Ward says further cuts in the
official cash rate by the RBA are highly likely in both February and
March, because of the ongoing volatility in Europe and its impact
on the rest of the world.
The RBA cut official interest rates by 0.25% in November 2011
and then again in December 2011 by a further 0.25%.
Mr Ward says a further 0.25% cut is likely when the RBA holds
its next meeting on Tuesday, February 7th. It is likely they will
reduce the cash rate again by 0.25% at the March meeting in
response to continued weakness in Europe.
The uncertainty in Europe is the result of high public sector debt
levels in countries such as Greece, Italy and Spain and the drag
on the global economy caused by indecision amongst policy-
makers in Europe about what to do.
A sharp slowdown in European economies would in turn knock-
on to large Asian economies such as China, which also impacts
Mr Ward says homebuyers who take a long-term view are in a
strong position to benefit from a softening in house prices. With
interest rates falling, affordability is improving, which in turn
presents good opportunities for those with a solid track record of
On another front, the Australian dollar is likely to continue to stay
at high levels.
The Australian dollar had a rollercoaster ride in 2011, trading as
high as US$1.1081 on July 27, 2011 and as low as US$0.9388
on October 4, 2011.
BankSA’s forecast is that the Australian dollar will remain strong
against the US currency and is likely to be at around US$1.01 by
the end of calendar 2012.
The BankSA marquee will be part of the
Harvest Festival at McLaren Vale this Saturday,
January 14 in the famous winemaking region.
The festival is being held at the McLaren Vale
Oval and is a celebration of a broad range of
food, wine, music and arts.
The theme of this year’s Harvest Festival is
“Flavours of Europe’’.
AT MCLAREN VALE
• Harvest Festival dish by
• Local food & wine stalls
• Wine & food master classes
• Celebrity wine challenge
• Spaghetti eating competition
• Local live bands
• Children’s activities
• McLaren Vale Magic Dozen
• Free parking
‘Free Entry’ with proceeds on the
day going to the McLaren Vale and
Districts War Memorial Hospital
FREE Community event,
McLaren Vale Oval,
Kangarilla Road McLaren Vale
Activities start 10am
Flavours of Europe
Come celebrate with us a diverse culture of food, wine, music and arts from the McLaren Vale Region.
This premiere regional event is an epicurean extravaganza and is about enjoying world-class wines and
tantalising gourmet food as the official lead-up and blessing of the 2012 Har vest Season.
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