NAB predicts RBA rate hike before Christmas
Business NAB (SYDNEY)
Australia’s largest bank is predicting an official interest rate
rise before Christmas amid buoyant business conditions.
The National Australian Bank’s latest business survey shows
Australian business conditions remained robust last month,
indicating unrelenting strength in the economy.
And that’s prompted the NAB to bring forward its expectations
that the Reserve Bank will move to raise official interest rates in
December, if not earlier.
NAB chief economist ALAN OSTER says a rate hike could come as
early as next month, with rates likely to increase between 50 and
75 basis points by early to mid-2004.
AAP RTV lm/tcs/jmt/rp
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