For some odd reason while interest rates are dropping, Wizard Home Loans has put up the interest rate charged on one of their credit cards for new customers. How odd!
The home loan interest rate has generally fallen by 25 basis points, or 25 points, or .25 per cent, or .25 of a per cent, or .25 of one per cent, or a quarter of one per cent.
Would it be so hard for some consistency with the way interest rate is expressed? Doesn't the word point that precedes the number indicate it is a fraction?
I think my non economist like brain can cope with a quarter per cent drop. Ok, .25 per cent drop if you are of an intellectual nature and want to sound posh but for mine, I like a bit of vulgarity about my fractions. Common as muck is me.