Rates to remain on hold despite ‘relentless’ appetite for property

first_imgRBA is expected to keep the official cash rate target on hold at 1.5 per cent when it meets Tuesday despite concerns over property investment levels. Picture: Jason SammonINTEREST rates were expected to remain on hold when the RBA board meets Tuesday, but experts are warning more needs to be done to stem the “relentless appetite for housing”.The ASX RBA Rate Indicator expected the Reserve Bank board to keep the official cash rate unchanged at 1.5 per cent when it meets, but more experts now believe the next move will have to be up.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:47Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:47 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMonthly Core Index: March 201700:47TD Securities said the March house price inflation had hit 13 per cent for the year and “returned to levels last seen during the 2009/10 RBA tightening cycle”.Its latest Australian Commentary report maintained its view of a November rate hike “despite APRA’s new macroprudential tool, announced Friday, and ASIC’s stepped up ’surveillance’ on interest-only loans”.“With more talk than limits on riskier lending practices, APRA is leaving it up to the banks to manage their own risks. In other words, given the absence of more substantial macroprudential tools, we leave our RBA hike of +25bp in November in place.”More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoSome experts believe stronger limits need to be imposed on investor levels. AAP Image/Dean LewinsThe latest Finder.com.au RBA cash rate survey found 86 per cent of experts believed the next move would be up in 2018. Those looking at a future rise by RBA had grown from 68 per cent of respondents in March and 58 per cent in February.Finder.com.au insights manager Graham Cooke said it was becoming clear that the next move would be up as RBA tightens monetary policy.Richard Robinson of BIS Oxford Economics, who expects the April decision to be to hold the cash rate target at 1.5 per cent, said “the overheating residential property market precludes a cut to rates” even though a cut would help drive down the dollar.Michael Blythe of CBA also expected a hold given current issues of “low inflation and housing concerns”.Economist Saul Eslake said “recent renewed strength in property investment lending is a strong argument against further easing – even if it doesn’t constitute a case, on its own, for an immediate tightening”.Lynne Jordan of Liberty said it was a major policy challenge for RBA.“Household debt levels, low wage growth, active property investors and a weak inflationary environment still present a major policy challenge for the RBA. I don’t think we’ll know exactly when the RBA’s next move will be until CPI data comes out at the end of April. If Inflation has gone up, we lean closer towards the rate increase many economists have predicted.“But if it is the same or lower, the RBA will likely hold the cash rate and remain in the same predicament it has been for the past few months – that investors will continue to make the most of low interest rates and drive up prices, which could result in household debt levels increasing even further.”last_img read more

Man alleged in 2 armed robbery cases in custody

first_imgVevay, IN—Switzerland County Sheriff Brian L. Morton reports that on Monday night,  Everett C. Henry (a.k.a. Buster Henry) who was wanted in connection for 2 recent armed robberies in Aurora Indiana and Ghent Kentucky was taken into custody.The subject was apprehended in Switzerland County without incident and transported to the Switzerland County Jail.last_img

Holt: Could BCS lose anti-trust suit?

first_imgThere are a number of things in this country I’d like to see come to an end. The recession tops the list, followed by M. Night Shyamalan’s filmmaking career and the BCS. Yes, the BCS, that flawed and controversial overlord of college football. Or, in the eyes of the state of Utah, the root of all evil.After what some (read: residents of Utah) perceived as an outrageous snub, the 12-0 University of Utah was not allowed to play for the 2008-09 national title. Despite being the only undefeated team left in FBS football, the Utes were ranked sixth in the BCS standings and played Alabama in the Sugar Bowl, while Oklahoma battled Florida for the title in a matchup of one-loss teams.Apparently, the pride from throttling an uninspired Alabama team and finishing second in the final polls didn’t last very long, as Utah’s attorney general Mark Shurtleff plans to file an antitrust lawsuit against the BCS in June. When public whining by non-BCS schools and pleas to the president weren’t enough to change things, those incensed Utes decided to take things into their own hands.The lawsuit accuses the BCS of owning an unfair and harmful monopoly over college football. In many respects, Shurtleff has a legitimate argument. Only 10 teams get bids to BCS bowls, and a non-BCS school such as Utah has to play flawlessly to be one of them. It needs to finish both as its conference champion and in the top 12 of the BCS rankings to earn an automatic bid, and only one non-BCS school can receive said-bid each year. And just to rub salt in the wound, Notre Dame, which doesn’t even belong to a conference, gets in automatically if it finishes in the top eight of the BCS rankings.In addition, the amount of revenue major conference schools get from the BCS dwarfs that of the Hawaiis and Boise States of the world. While the BCS distributed $70 million total to the non-BCS conferences since it was instituted, ESPN reported that it paid $18 million each year to the major conferences.So yes, the BCS is the jerk in Monopoly who buys every property just because he can, while Utah is stuck with a house on Baltic Avenue and a sour attitude. But a number of purely football-related reasons indicate the messy affair this lawsuit is bound to become.Utah will point to the fact it is the only non-BCS team to win two BCS bowls. Their 21-0 first- quarter lead over Alabama in the ’09 Sugar Bowl — good. The fact the Crimson Tide players looked like they would rather be eating glass than playing that game — not so good. That incredible 2007 Fiesta Bowl victory by Boise State will probably be pointed to as well. Hawaii’s 41-10 loss in the 2008 Sugar Bowl might be conveniently forgotten.Shurtleff won’t be alone in the suit either; he’s gathering allies to form a Justice League of Football as I write this. However, his only hope might be if some of the big boy BCS schools decide to take up the cause. Perhaps the Badgers could be motivated to join the fight? As recently as the 2006-07 season, they finished 12-1 with a top 10 ranking, yet did not play in a BCS bowl due to rules stating only two teams per conference may do so (thanks, Michigan and OSU).Texas Tech might have something to say as well. After all, the Red Raiders weren’t too happy about being odd man out in a Big 12 where Texas got a BCS bid despite losing to the Raiders in their head-to-head matchup.More than likely, the lawsuit will result more in publicity and courtroom bickering than in the end of the BCS. According to ESPN, if Utah wins the suit, the BCS would have to restructure and pay damages to any “states and universities harmed by the BCS.” That’s a lot of money. Luckily, after signing a $500 million TV contract, the BCS can afford lots of big defense attorneys, who will likely use lots of big words to make this into a bigger deal than it needs to be.Ultimately, I don’t think the lawsuit will succeed. There’s too much subjectivity involved and, ironically, subjectivity is what the BCS was created to fix. I don’t even necessarily think this is the right way to go about changing things.However, by actually doing something, Shurtleff is at least taking a step toward fixing the problem. Unfortunately, money can go a long way, so the chances we get playoffs in FBS football are about as good as the odds Utah accepts a settlement just to shut up.last_img read more

Nationals back as top teams collide

first_imgRomeo was the hero in Gilas’ 97-86 victory over China in the group stage and against Jordan, 75-70, in the clash for seventh place in the Fiba Asia Cup, and his return to GlobalPort certainly gives the Batang Pier more teeth against the Beermen.San Miguel is at 3-1 and will play the 6-foot-10 Fajardo limited minutes because of a pulled calf muscle that kept him out of the first three Gilas games.Wright, on the other hand, is sorely needed back at Phoenix Petroleum as the Fuel Masters try to arrest a five-game slide against TNT KaTropa in the 4:15 p.m. contest.The Texters are set to get back Castro and Pogoy.Phoenix will now have two deadly outside guns against TNT with Wright and new acquisition Jeff Chan.ADVERTISEMENT MOST READ PSC, Cayetano to meet on SEA Games hosting Sports Related Videospowered by AdSparcRead Next Photo from Fiba.comSleep or no sleep, Terrence Romeo—Gilas Pilipinas’ most explosive scorer in the recent Fiba Asia Cup in Lebanon—is back to give GlobalPort a boost.June Mar Fajardo, Matthew Wright, Jayson Castro and RR Pogoy are returning as well, as teams slowly return to full force with the PBA Governors’ Cup eliminations to enter its second half starting Friday at Smart Araneta Coliseum in Cubao.ADVERTISEMENT Search on for 5 Indonesians snatched anew in Lahad Datu Bishop Baylon encourages faithful in Albay to help Taal evacuees Hotdog’s Dennis Garcia dies Don’t miss out on the latest news and information. National Historical team rescues Amorsolos, artifacts from Taal Marcosian mode: Duterte threatens to arrest water execs ‘one night’ All eyes, however, are on Romeo, who bailed Gilas out of the woods in two critical games in Beirut, as he returns to a Batang Pier crew badly needing a shot in the arm in a bid to join the frenzied hunt for top four berths and twice-to-beat privileges in the season-closing conference.And about the only thing coach Franz Pumaren is worried about is his prized5-foot-10 point guard getting enough sleep for GlobalPort’s 7 p.m. clash with powerhouse San Miguel Beer, which will welcome back Fajardo.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’“He practiced (Thursday) but said that he hasn’t had any sleep yet,” Pumaren told the Inquirer over the phone.Romeo arrived with the rest of the PH team on Tuesday night and is battling jetlag, which could hit all the Nationals the hardest on Friday.“That’s the only problem we have right now,” Pumaren added. “Otherwise, he seems to be good. We will be using him (for the game) depending on how he feels. But definitely, he will play.” View comments LATEST STORIES What’s in store for your animal sign this year Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Police seize P68-M worth of ‘shabu’ in Pasay Britain’s Prince Harry and Meghan Markle to give up royal titles OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacsonlast_img read more