Globally we are continuing to see rates on hold however there remain concerns around inflation remaining sticky. In the US, the Federal Reserve left interest rates on hold this month after inflation increased slightly but did warn that it would keep increasing if need be. Nevertheless, markets are expecting cuts to start towards the end of next year.
Surprisingly, UK inflation is coming down, despite stubbornly rising power prices. The Bank of England maintained rates, ending a run of 14 consecutive rate rises even though inflation remains a lot higher than other countries.
There are some exceptions where rate rises will continue at a rapid rate. Turkey’s inflation rate is now at 59 per cent with interest rates at 25 per cent after a failed attempt to solve inflation problems by cutting rates last year when inflation was rising rapidly. Argentina’s inflation is at 124 per cent and interest rates are at 118 per cent after the government resorted to printing money to try to provide economic support.
Nerida Conisbee Ray White Group Chief Economist Nationally, auction numbers are up, the number of people actively bidding is falling and this is causing a fall in clearance rates. All of this adds up to a slowing market, and price moderation or even falls. However, this does ignore that there continues … Read more
Whitsunday Regional Council Mayor Ry Collins today officially opened the new solar array at the Collinsville Water Treatment Plant (WTP). Mayor Collins said the Collinsville Efficient Resilient Solar Program, which was jointly funded by Council and the Australian Government, was a valuable project for the Collinsville and Scottville communities. “Close … Read more