06/08/08 - RBA signals end to high interest rates
The Reserve Bank has sent a clear signal that it will lower rates in September.
The statement by RBA governor Glenn Stevens, released yesterday, says the scope for the bank to move to a less restrictive monetary policy in the period ahead is increasing.
Retail sales are down and business confidence is down to very low levels said Stevens.
The terms of trade are improving but oil remains at historically high price levels. Markets are pricing in a full one per cent fall in rates within 12 months. - Source: The Australian Financial Review
Yours with Ethics and Passion
George Mihos,
Melbourne Australia, August 7, 2008
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