After the central bank Governor Glenn Stevens increased the percentage of the costs borrowed the government cut grants to first-time buyers. According to the latest statistics that Australian home-loan approvals has been decreased last February up to 1.8%. However from the statement of Assistant Governor Guy Debelle the Governor Stevens’ resolution to increase the standard interest rate five times in six meetings is fresh up the domestic demand.
An economist at Macquarie Group Ltd. in Sydney Ben Dinte said that this is what the Reserve Bank wanted to see. “While it won’t prevent interest rates from moving up due to the strength of business investment, it’ll allow them to slow the pace of tightening, at least in the more immediate future.” He added
As of today the Australian dollar currency is 93.41 U.S. cents as of 12:17 p.m. in Sydney from 93.45 cents just before the statement was released. With the two-year government link give way fell 1 basis point to 5.01 percent in a starting point that is 0.01 percentage point.
In this line after the Prime Minister Kevin Rudd’s government announced the reduced amount to first time home buyers for new homes for sale amounting from A$21,000 ($19,600) with the payments cut to A$7,000 on Jan. 1.
From the statistics bureau figures stated that 18.1 percent of dwellings that were financed in February, down from 20.5 percent in January and 26.8 percent in February 2009.
Source: BusinessWeek News
An economist at Macquarie Group Ltd. in Sydney Ben Dinte said that this is what the Reserve Bank wanted to see. “While it won’t prevent interest rates from moving up due to the strength of business investment, it’ll allow them to slow the pace of tightening, at least in the more immediate future.” He added
As of today the Australian dollar currency is 93.41 U.S. cents as of 12:17 p.m. in Sydney from 93.45 cents just before the statement was released. With the two-year government link give way fell 1 basis point to 5.01 percent in a starting point that is 0.01 percentage point.
In this line after the Prime Minister Kevin Rudd’s government announced the reduced amount to first time home buyers for new homes for sale amounting from A$21,000 ($19,600) with the payments cut to A$7,000 on Jan. 1.
From the statistics bureau figures stated that 18.1 percent of dwellings that were financed in February, down from 20.5 percent in January and 26.8 percent in February 2009.
Source: BusinessWeek News
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