By Robert Carry
The RBA may be prompted to introduce a third consecutive interest rate rise this December by growing business confidence, experts believe.
According to reports in the Sydney Morning Herald, a recent survey from National Australia Bank showed businesses were now twice as likely to be planning to take on workers as let them go.
"Taken literally this suggests annual employment growth of 2 per cent,” said UBS economist, George Tharenou. "It adds weight to our view that the Reserve Bank will raise rates by a further 0.25 percentage points in December, although it's a close call.”
However, upcoming unemployment figures are likely to be a key factor in the Reserve Bank of Australia's decision, according to ANZ economist, Shane Lee.
"Any significant fall in the unemployment rate on Thursday would ensure a December rate rise,” he said.
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out