TERRA AG FINANCE - Update April 2021: 7th April 2021
Good Afternoon,
A quick update for you on what I am seeing in the finance space at the moment.
Main discussion points:
RBA made an announcement this week, key take outs:
Cash Rate remained unchanged at 0.10%
Unemployment Rate fell to 5.8% in Feb. Number of people with a job has returned to pre COVID level.
GDP Increased by 3.1% in the December 2020 Quarter.
BBSW continues to move upwards when looking at 3 years onwards. A strong indication of where interest rates are going.
10yr BBSW December 2020 was 0.97%
10yr BBSW February 2021 was 1.49%
10yr BBSW April 2021 was 1.81%
Opportunities within the Market:
Asset Finance Rates continue to be cheap at around 2.5-3% for new equipment. Call to arrange a quote.
Fixed Interest Rates is something that I believe should be investigated, ensure that your bank has you correctly priced prior to fixing in debt.
Working Capital & Term Debt Rates – I am seeing facilities that are priced out of the market. Call to arrange a review of your bank facilities.
For any enquiries, or if you would like to chat please don’t hesitate to give me a call.
Regards,
Pat McNamara
Finance Broker
Terra Ag Rural Agencies Pty Ltd
Unit 30, 16-24 Whybrow St, Griffith NSW 2680
M: 0488 935 009
F: 02 6964 6095
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