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The Housing Slump Down Under Is Getting Serious

From bnnbloomberg.ca

A new bestseller might be in the offing. If the public could get its hands on it, that is. The Reserve Bank of Australia's board spent a chunk of its interest-rate meeting this month digesting a paper on the housing slump and what it foretells for that famous 27-year growth streak. Consideration of the paper, revealed in minutes of the RBA's Feb. 5 conclave released Tuesday, may explain a lot. While the benchmark rate was kept at 1.5 percent, Governor Philip Lowe wasted no time in jettisoning the bank's bias toward a rate hike. He did that the next day, in fact. It's not uncommon for the RBA board to review papers of ... (full story)

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  • Category: Fundamental Analysis