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

PM warns of impending interest rate rise

27 July 2009 Reporter

In a bid to keep the economy in surplus Prime Minister Kevin Rudd has warned voters that interest rates will rise in the coming months.

Mr Rudd said interest rates could start moving as early as December and expects the Reserve Bank of Australia’s (RBA)cash rate to be 90 basis points above its present low of 3 per cent by July next year.

According to Mr Rudd, despite signs that the threat of a recession is easing, the government is not yet ready to call an end to the downturn and will push ahead with the remainder of its $77 billion stimulus program to guard against a spike in unemployment.

The government has said it will rein in spending in order to get the budget into surplus as soon as possible.

“Our primary objective is to sustain jobs, to keep people in employment, keep businesses open,” Finance Minister Lindsay Tanner said.

PM warns of impending interest 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.