Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

RBA’s upbeat outlook fuels fear of rate rise

22 July 2009 Reporter

The Reserve Bank of Australia (RBA) has said the global economy is stabilising and the country can expect to enjoy subdued growth over the next two years.

In the minutes of its July 7 monetary policy board meeting, released yesterday, the RBA said the economy had been unexpectedly resilient.

“Housing loan approvals had recorded a strong increase, and house prices were again picking up, with the rises becoming more widespread.

“The outlook thus remained for a gradual recovery to begin later in the year, and downside risks to that had diminished,” the RBA said.

The receding threat of a recession has further fuelled speculation that interest rates have now bottomed out.

Over the past week, financial markets have reeled in their expectations of a 0.25 of a percentage point rate cut next month from 25 per cent to 11 per cent.

They are now tipping that the official cash rate will rise from 3 per cent to 3.75 per cent over the next 12 months.

RBA’s upbeat outlook fuels fear of rate rise
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.