Back to the point. So for me as a person who has 80% of his portfolio on discounted rates this will obviously be good news for my monthly payments! But I bet they wish they'd cut the rate by 0.25% when the US cut by 0.50%, that would have shown far greater competency.< p>

Property investment

But the really good thing from our point of view as property investors was that the LIBOR rate dropped from 6.39 to 6.21. This was also due to the Central Banks dropping money into the economy to create a good market sentiment. Well the lower LIBOR rate is a good thing as it means the lenders will have more confidence, but it doesn't resolve the underlying problem.