Chief economist update: Australian property market slumpBY BENJAMIN ONG | FRIDAY, 18 JAN 2019 11:41AMHomebuyers can afford to wait for property prices to come down some more, the RBA cannot. Related News |
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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
If RBA cuts interest rates it will reduce the value of AUD especially as the Feds are raising interest rates. This will mean more expensive imports such as electronics, clothing and petrol. Leading to increase cost to run business and thus cutting employees and raising prices. Added with the low wage rise we have experienced in Australia this will lead to less spending. Not to mention less overseas investment coming into Australia due to low interest rates. And that Aussie banks may still keep their interests the same or even raise theirs if the US hikes up theirs again this year anyway. RBA has got a tough decision to make but hoping that by lowering interest rates will boost up home prices is extremely simplified theory.