Australia’s central bank kept interest rates steady at a record low 2.0 percent, in line with analysts’ expectations, but the Australian dollar still pushed higher. All 24 economists polled by Reuters expect the RBA to be on hold, but eight respondents say interest rates could be reduced to 1.75 percent or lower by December, if …
The Reserve Bank is unlikely to cut rates further next week as it balances the need to boost economic growth while keeping Sydney and Melbourne house prices under control. Market pricing for a June rate cut has remained at just four per cent this week, despite Thursday’s downbeat capex data which showed business investment slumped …
Sales of new homes in Australia rose for a fourth straight month in April to reach their highest since at least 2010 as falling mortgage rates and the lure of rising house values drove demand. The Housing Industry Association (HIA) said its survey of large volume builders showed sales of new homes rose 0.6 percent …
The Reserve Bank warns lending controls on banks to reduce the heat in Australia’s property market could just drive buyers elsewhere for their loans. Risky lending into an inflated market has been a consistent worry for the Reserve Bank’s rates strategy, though not enough to deter this month’s rate cut to a record low of …
