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Australia's Rba Considered Delaying Rate Cut - Nasdaq.com

"Given the large increases in housing prices in some cities and ongoing strength in lending to investors in housing assets, members also agreed that developments in the housing market would bear careful monitoring," it said. The RBA and the Australian Prudential Regulation Authority have warned about risks associated with strong house price gains. APRA announced in December new guidelines for lending to property investors. The RBA view said it would be important to assess the effects of these measures. Some economists have warned that pockets of the housing markets are now showing "bubble-like" conditions, making the rate cut potentially risky. The resource-rich economy has been hit hard in the last year by falling commodity, particularly for iron ore and coal, it's two biggest exports. Investment in resources has collapsed and is yet to be replaced by capital spending in other areas of the economy. A high Australian dollar had added to the woes of the economy, albeit it has now fall by close to 30% since its historic peaks above parity in 2011. The Australian dollar has fallen home a long way against the U.S dollar, but not so against other major currencies.
More: http://www.nasdaq.com/article/australias-rba-considered-delaying-rate-cut-20150216-00343

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