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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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July rates to hold firm

By Staff Reporter
03 July 2009 | 1 minute read

The RBA’s policy-setting board will meet next Tuesday to determine the interest rate benchmark, however, economists are tipping rates will remain unchanged.

But while economists are insisting the RBA will not raise rates in the foreseeable future, market traders are estimating that rates will increase by half a percentage point within a year.

Yesterday traders were pricing only an 8 per cent chance of a quarter-point cut on Tuesday; betting instead on a half point rise over the coming year.

In contrast with the trader’s sentiment Commonwealth Bank of Australia chief economist Michael Blythe told The Australian Financial Review that he anticipates a quarter-point cut to 2.75 per cent by September.

“There is a big, theoretical debate going on about just what central banks should do and I’m not sure it has been resolved,” Mr Blythe said.

“Once it is clear the economy is on stable footing, central banks will tend to raise rates quite quickly until they get to a more normal level, which for Australia we think falls around 5.5 per cent in the cash rate.”

July rates to hold firm
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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