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How bad is the downturn in house prices?
Australia: RBA Deputy Governor Debelle speaks on “The state of the economy” on Wednesday. The speech could prove important as he will have the chance to provide colour on the decision by the RBA to tweak the policy paragraph of its April interest rate announcement (the RBA said, “The Board will continue to monitor developments and set monetary policy to support sustainable growth in the economy and achieve the inflation target over time”). Recent data have been positive, but we interpreted this tweak as a step toward considering reducing interest rates, with the RBA likely to downgrade its outlook in May (we ... (full story)
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IF,BUT,MAYBE,WHEN IT GETS TO, WAITING FOR
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