Saturday, February 11, 2012

What Does Bill Evans, chief economist of Westpac say about Reserve Banks decision to hold interest rates?

  • Reserve bank has decided to hold interest rates as they believe GFC is now past and the Australian Economy is on an average level.However, not for construction, manufacturing and retail - mining is holding up the fort!
  • Unemployment rate is increasing (4.8% - 5.2% and estimated to go to 5.3%)
  • Consumer sentiment not great
  • A$1.08 - Bill Evans forecasts parity in next 6 months 
Conclusion, Bill thinks that there will be another cut in interest rates in next 6 months

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