RBA likely to leave rates on hold despite strong housing data – Rabobank

From fxstreet.com

Jane Foley, senior FX strategist at Rabobank points out that according to CoreLogic data, house prices in Sydney rose by 2.7% m/m in November, marking its largest monthly rise since 1988. Key Quotes “Melbourne wasn’t far behind, recording growth of 2.2% m/m. Nationwide, Australian house prices jumped by 1.7% m/m, the fifth consecutive monthly increase, supported by the aggressive pace of RBA rate cuts this year. The strong performance of house prices is counter to the more gloomy tone of other Australian economic data releases. Together these messages highlight the delicate path that RBA policy makers must ... (full story)