RBA Says Economy to Accelerate Even as Rates Increase
from MoneyTrading.com.au
Australia’s central bank said economic growth will continue to accelerate this year even if policy makers are forced to raise the interest rate by another three quarters of a percentage point.
The economy will be growing at an annual pace of 3.25 percent in the three months through December 2010, up from 2 percent last quarter, the bank said today in Sydney. Officials based their forecast on an assumption that the overnight cash rate target will climb to 4.5 percent this year, in line with market estimates.
Australia’s central bank said economic growth will continue to accelerate this year even if policy makers are forced to raise the interest rate by another three quarters of a percentage point.
The economy will be growing at an annual pace of 3.25 percent in the three months through December 2010, up from 2 percent last quarter, the bank said today in Sydney. Officials based their forecast on an assumption that the overnight cash rate target will climb to 4.5 percent this year, in line with market estimates.
posted by Money Trading at
1:42 PM
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