What the latest employment figures mean for interest rates

first_imgThe majority of economists still think interest rates will stay on hold until at least the second half of 2018. Photo: AFP/William West.INTEREST rates are still likely to remain on hold until at least the second half of this year, despite surprisingly strong employment figures.Australia’s jobs boom continued in December with the latest Australian Bureau of Statistics figures revealing employment rose by 34,700 in seasonally adjusted terms last month — more than doubling the 15,000 increase that had been expected.But Queensland disappointed, with the state’s unemployment rate rising to a seasonally adjusted 6 per cent. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoThe majority of economists think interest rates are still likely to stay on hold until at least the second half of 2018. Photo: Glenn Hunt/Getty Images.So what are economists saying about the outlook for interest rates in the wake of the latest figures?CommSec senior economist Ryan Felsman said that while the job market was strong, wages growth was still only modest.“We expect the next move in rates to be up, but not until late in 2018 at the earliest,” he said in a note to clients. CHARMING HOMES AUCTIONED OFF A general view of properties in North Lakes outside Brisbane. Photo: Glenn Hunt/Getty Images.TD Securities chief Asia-Pac macro strategist Annette Beacher agreed there needed to be a “meaningful pick-up” in wages and inflation for the RBA to “shift off its neutral perch”.AMP Capital chief economist Shane Oliver expects the RBA to raise rates around the end of the year. WHAT SOLD BIG AND WHERE National Australia Bank continues to expect a half a per cent increase in the official cash rate in the second half of this year, while ANZ, on the other hand, predicts interest rates will increase twice this year.last_img read more

The sale of the famous Fancutts tennis centre at Lutwyche has delivered a solid return

first_imgWimbledon players Trevor and Daphne Fancutt outside the Fancutts Tennis Centre at Lutwyche.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus20 hours agoTHE sale of the former Fancutt’s tennis centre at Lutwyche has delivered a solid return.Property records reveal retirement developer Retire Australia paid a combined $13.605 million for 32 and 39 Laura St, Lutwyche which were once owned and operated by former tennis champs Daphne and Trevor Fancutt.The sale of the two properties at, delivered a total of 6408sq m of land to the developer. Which bought other sites in the street. The Fancutt’s announced in 2015 they would sell the centre they had operated for more than 50 years.Retire Australia has already revealed plans for a multistorey retirement facility on the site.last_img read more

Never refused to provide security to Indo-Pak match: Virbhadra

first_imgNew Delhi/Shimla, Mar 10 (PTI) A day after India-Pakistan T-20 World Cup match venue was shifted from Dharamsala to Kolkata, Himachal Pradesh Chief Minister Virbhadra Singh today said the state government had never refused to provide security for the match and it was ICCs decision to shift the venue.He accused BJP leader and BCCI Secretary Anurag Thakur of politicising the issue and said he himself was an ardent sports lover and had nothing personal against any sports organisation.”The state government had never refused to provide security for the India-Pakistan cricket match at Dharamsala and the decision to shift the venue to Kolkata was that of the International Cricket Council (ICC). The government had at no point expressed its inability to provide security for the match. It had conveyed this to the Ministry of Home Affairs as well,” Singh said in a statement. Hitting out at Thakur, the Chief Minister said “Instead of honouring the sentiments of the people of the state, Anurag Thakur was playing blame game which showed that money was more important for HPCA than the sentiments of the families of the martyrs.”He said he had nothing personal against any sports or sports organisation and T20 cricket matches between other countries at Dharamsala and the state government welcomed it.Singh said, however, that the ex-servicemen League, family members of martyrs of Kargil war as well as those of the Pathankot attack were strongly opposed to the Indo-Pak match at Dharamsala and the state government had great respect for their sentiments.advertisement”The state government had not shirked away from its duty and responsibility of maintaining peace, tranquillity and law and order at any point,” he said, adding that he had even advised the BCCI Secretary to approach family members of martyrs and ex-servicemen league and seek their support so that a right environment could be created without hurting the feelings of the soldiers and their families.Singh noted that senior BJP leaders, including Shanta Kumar were also opposed to holding of the match at Dharamsala and Kumar had even conveyed his resentment in writing to him and the Prime Minister. PTI SKC PCL SRY PAL SRYlast_img read more