RBA 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.”
RelatedMourinho Rules Out Fellaini Exit, Confirms Matic DealJuly 30, 2017In “England”Photo – Nemanja Matic Wears Manchester United Kit After Undergoing MedicalJuly 30, 2017In “England”Manchester United Sign Serbian Midfielder Matic In £40m DealJuly 31, 2017In “England” Manchester United legend and Sky Sports pundit, Gary Neville, has labelled Nemanja Matic’s £40m move to United as “strange”.29-year-old Matic, who was an integral part of Chelsea’s Premier League winning squad last season, moved to Manchester United in July after three years with the Blues.Speaking to Sky Sports, Gary Neville said: “When a player leaves a club, you do not normally see a manager speak so glowingly about them,”“Usually they would say it is time for them to leave, it was the right move for both parties.”“I have to say that it is a strange move, it really is, to sell to one of your main rivals. Sometimes transfers can get forced through, but it did not seem to me that Matic was forcing it through. Maybe he was behind the scenes, but it did not seem he was publicly.”Chelsea manager, Antonio Conte, has recently expressed his shock at Matic’s departure, declaring that it was Chelsea board decision to sell the Serbian.“There is very rarely such big transfers between champions to clubs that are challenging them and it is a strange move.” Neville added.
The BC Oil and Gas Commission will be opening a new office in Dawson Creek.The office will house inspection staff and landowner assistance with extra room to grow.Minister of Energy, Mines and Petroleum Blair Lekstrom says he was trying to get an office in the South Peace for some time.- Advertisement -He says planning for the office goes back one year and took a team effort to establish.