Tuesday, Mar 06, 2007
Australia building sector still affected by rates hike
iii.co.uk: Australia building sector still affected by rates hike
SYDNEY (XFN-ASIA) - A continuing decline in building approvals in January shows interest rate hikes delivered over 2006 are still influencing housing activity, Westpac Banking Corp economists said.
But, they said, dwelling approvals are likely to stabilize in coming months as the effects of last year's interest rate moves start to moderate and the Reserve Bank of Australia keeping interest rates on hold bolsters confidence
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