In the Australian press today: RBA tipped to leave rates on hold at next week's meeting
This source is nominally gated, but this article isn't ... link
Note - article from late yesterday (Australia time). Also, the article is from Dow Jones/Wall Street Journal and reprinted in the Aus.
In brief:
- Reserve Bank of Australia will likely leave interest rates on hold at next week's meeting
- Fear a cut could put a rocket under too-hot property prices ... housing auctions last weekend in Sydney saw a near-record 86 per cent of all properties sold, compared with about 83 per cent a week earlier
- Nationally, home prices have climbed 22 per cent since mid-2012
- A sudden crash in home prices could undo much of the hard work interest rates have done to modestly spur non-mining sectors of the economy, such as retail
- Unemployment to 6.4 per cent in January, highest level in more than 12 years, is an unlikely trigger for a second consecutive rate cut ... averaged over a number of months it's still only a gradual climb
- The RBA is likely to signal its intention to cut rates again - just not immediately
More detail at the link
