Arab Today, arab today australia indicates rate rise due to curb inflation
Last Updated : GMT 03:42:53
Arab Today, arab today
Arab Today, arab today

Expectations of higher prices to 3.25 %

Australia indicates rate rise due to curb inflation

Arab Today, arab today

Arab Today, arab today Australia indicates rate rise due to curb inflation

Australia is the first major western economy to raise interest rates after the global slump.
SYDNEY - AFP

Australia is the first major western economy to raise interest rates after the global slump. Australia\'s central bank suggested it could raise interest rates again soon as it lifted inflation forecasts for the next two years.In a quarterly monetary policy statement, the Reserve Bank of Australia on Friday said underlying inflation, which excludes volatile price items, was expected to be around three percent in 2012 -- the top of its target band.
In February, the RBA forecast underlying inflation would remain below 3.0 percent until the end of 2012.
In the latest estimate the bank said it expects prices to rise to 3.25 percent by the end of 2013 as the economy heads toward full employment, wages rise and mining investment surges.
\"Further tightening of monetary policy is likely to be required at some point for inflation to remain consistent with the two to three percent medium-term target,\" the bank said.
It added that the board would \"set policy to ensure a continuation of the low and stable inflation that has made an important contribution to Australia?s strong economic performance over the past two decades\".
The bank left interest rates on hold at 4.75 percent earlier this week, having last lifted them in November 2010.
\"Looking ahead, given the outlooks for both the world and domestic economies, year-end underlying inflation is expected to pick up over the course of 2011,\" the RBA said.
It said one of the biggest risks was that as mining investment boomed, companies would compete aggressively for labour, leading to more pressure on wages and other costs than the bank initially envisaged.
Australia, the first major western economy to raise interest rates after the global slump, has hiked its cash rate by 175 basis points since October 2009 as it rides the Asia-driven mining boom that helped it dodge recession.
Economist and chief executive of property Group Rismark, Chris Joye, said the RBA could lift rates three times this year to tackle inflation.
\"If unemployment holds steady at 4.9 percent and wages growth remains healthy\" the RBA is very likely to hike in June, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia indicates rate rise due to curb inflation Arab Today, arab today australia indicates rate rise due to curb inflation

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia indicates rate rise due to curb inflation Arab Today, arab today australia indicates rate rise due to curb inflation

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday