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 Post subject: Interest rates set to rise
PostPosted: Mon Oct 18, 2004 8:58 am 
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Johnny Guitar
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Oh the ironing is delicious.

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Interest rates tipped for a substantial rise
October 18, 2004

Interest rates are likely to rise substantially in the next three years while the economy heads for a downturn, the economic forecaster BIS Shrapnel has warned.

BIS Shrapnel made the forecast in its latest Long-Term Forecasts 2004 to 2019. The report said it was a myth to think that Australia's moderate growth, low inflation and low interest rates could continue forever.

Its senior economist, Matthew Hassan, said the Reserve Bank would have to increase rates between two and three percentage points in the next three years.

The expected low unemployment levels next financial year would create a skilled workers shortage, which would mean many businesses were likely to pay higher wages, he said. Higher wages would cause price rises in 2006.

"These two years of inflationary growth will be the trigger for substantial interest rate rises, with the official cash rate expected to peak at around 8 per cent in late 2006," Mr Hassan said.

BIS Shrapnel still predicts a recession in 2007-08. Its report said a business investment bust in 2007 would follow the current rush to invest to meet demand.



http://smh.com.au/articles/2004/10/17/1097951559065.html?oneclick=true


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 Post subject:
PostPosted: Mon Oct 18, 2004 12:53 pm 
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Johnny Guitar
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What's this high interest rates and Liberal in power.... never :wink:

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 Post subject:
PostPosted: Mon Oct 18, 2004 11:55 pm 
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Spaceman
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I'm almost happy about this
Just because it's so fucking hilarious!

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 Post subject:
PostPosted: Tue Oct 19, 2004 1:20 am 
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The Decider
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None of you seriously thought that either the Coalition or the ALP have any influence on monetary policy did you?

The RBA is wholly independent, and interest rates trend globally. Fiscal policy is nothing more than a political goody bag these days. No government is gonna get away with huge deficits or surpluses anymore.

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 Post subject:
PostPosted: Tue Oct 19, 2004 4:05 am 
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Spaceman
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shades-go-down wrote:
None of you seriously thought that either the Coalition or the ALP have any influence on monetary policy did you?

We know, that's what makes it so delicious

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Oh, the flowers of indulgence and the weeds of yesteryear,
Like criminals, they have choked the breath of conscience and good cheer.
The sun beat down upon the steps of time to light the way
To ease the pain of idleness and the memory of decay.


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 Post subject:
PostPosted: Tue Oct 19, 2004 5:09 am 
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Unthought Known
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I'm deadset certain they said this in the leadup to the election.

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 Post subject:
PostPosted: Tue Oct 19, 2004 7:05 am 
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Johnny Guitar
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Hinny wrote:
I'm deadset certain they said this in the leadup to the election.



That interest rates would raise anyway, or that the government has no impact on interest rates?

Labor said the former in their campaign ads, but you'd probably know that.


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 Post subject:
PostPosted: Tue Oct 19, 2004 7:54 am 
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The Decider
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vacatetheword wrote:
shades-go-down wrote:
None of you seriously thought that either the Coalition or the ALP have any influence on monetary policy did you?

We know, that's what makes it so delicious


:lol:

Love it.

Loved the "we can't meet our Budget promises" disclaimer too by Costy. Typical treasurer talk. Crean woulda done it too if Latham had let him talk.

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Jammer91 wrote:
If Soundgarden is perfectly fine with playing together with Tad Doyle on vocals, why the fuck is he wasting his life promoting the single worst album of all time? Holy shit, he has to be the stupidest motherfucker on earth.


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 Post subject:
PostPosted: Tue Oct 19, 2004 8:19 am 
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Force of Nature
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Wipe tears from my eyes


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