There has been a lot of speculation over the last couple of days as to whether the Reserve Bank will increase interest rates when the board meets today.
While economists had previously predicted rates would start to rise again, they are now saying the RBA will keep rates on hold.
AMP Capital Investors chief economist Shane Oliver said there is a strong case for the RBA to leave rates as they are, and economists are now predicting rates will begin to rise in early 2010.
However, the National Australia Bank (NAB) is predicting interest rates will rise sooner rather than later, believing the Reserve Bank will raise interest rates twice this year, once in November and then again in December.
The RBA will hand down it’s decision later today at the monthly board meeting.
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