Business Services Industry
Brakes look locked on rates.
Australasian Business Intelligence, May, 2003
May 09, 2003 (The West Australian - ABIX via COMTEX)
Australia's official interest rates might not rise again before the end of 2003. In its May statement, the Reserve Bank of Australia board left the official rate at 4.25 and said it will continue to wait for changes to economic conditions globally and domestically. Alan Oster, National Australia Bank's chief economist, says the Australian economy is doing okay and if the global economy also picks up, interest rates will probably rise. Greg Gibbs, RBC Capital Markets' senior currency strategist, says the statement could help the Australian dollar move higher, but Michael Blythe, the Commonwealth Bank of Australia's chief economist, says the board is not considering a rate cut.
Publication Date: 10...
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