RBA gives APRA’s use of macro tools a tick of approval
Ahead of an expected move to impose tougher lending rules on the banks, the Reserve Bank has looked into previous attemp...
Interest rates are expected to remain on hold for the foreseeable future.
But while rates remain on hold for now, NAB’s chief economist Alan Oster says the RBA will inevitably raise rates again before the end of the cycle.
“Interest rates will peak at 5.5 per cent by mid 2011 and inflation will be revised up to 3 per cent before year’s end,” Mr Oster said.
Interest is the amount of money charged by a lender or financial institution for a loan, which is calculated as the percentage of the principal amount paid over the loan term.