Ensure you never miss an issue of the
real estate business bulletin
Rates on hold til mid 2011

Rates on hold til mid 2011

by Reporter 0 comments

Staff Reporter

Economists remain confident that the Reserve Bank of Australia will not lift the official cash rate for some months.

According to AMP’s chief economist Shane Oliver, the nation’s economic data over the last couple weeks has been generally soft, with a slight fall in home sales and house prices, a fall in building approvals and continuing soft growth in private sector credit.

“As a result of this data, we remain of the view that tightening will not become aggressive,” Mr Oliver said.

Mr Oliver also said that the recent floods would further delay the next RBA tightening as Australia struggles to get its fresh fruit and vegetable industry back on track.

“While the floods will likely lengthen the soft patch in Australian economic growth and further delay the next RBA tightening, possibly to May or June, they are unlikely to have a significant impact on growth this year as a whole, which we expect to be around 3.5 per cent over the year to the December quarter. At this stage, we still see the cash rate rising to 5.5 per cent by year end.”

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Rates on hold til mid 2011
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?