Growth to triple in 2010, say economists
Friday January 1, 2010, 8:20 am
http://au.biz.yahoo.com/091231/31/2akct.html
Economists say economic growth is set to triple in 2010.
The Treasury and Reserve Bank expect the growth rate to return to around 3 per cent this year, up from around 1 per cent in 2009.
But the surge in economic activity is expected to exacerbate the skills shortage and put pressure on infrastructure and inflation.
A senior economist at ANZ, Julie Toth, expects a cash rate of close to 5 per cent by the end of the year as the RBA lifts the official interest rate to counter the rapid growth.
"Through the second half of 2009, we saw pretty much all economic indicators accelerating quite rapidly," she said.
"As a result, the Reserve Bank's already had to move off that 3 per cent low that we saw earlier in the year and move back to what it regards to a more normal range for the cash rate for Australia."
Some economists are also expecting the Australian dollar to climb to $US1 this year. It would be the first time the local currency has hit parity since it floated almost 30 years ago.
Ms Toth says the dollar could spike above parity occasionally, but she expects it to spend most of this year valued at around 85 to 90 US cents.
------------------------------------------------------
For all those who considered Australia is a shit country.. pls read my lip.. YAHOOOOO !!
Friday January 1, 2010, 8:20 am
http://au.biz.yahoo.com/091231/31/2akct.html
Economists say economic growth is set to triple in 2010.
The Treasury and Reserve Bank expect the growth rate to return to around 3 per cent this year, up from around 1 per cent in 2009.
But the surge in economic activity is expected to exacerbate the skills shortage and put pressure on infrastructure and inflation.
A senior economist at ANZ, Julie Toth, expects a cash rate of close to 5 per cent by the end of the year as the RBA lifts the official interest rate to counter the rapid growth.
"Through the second half of 2009, we saw pretty much all economic indicators accelerating quite rapidly," she said.
"As a result, the Reserve Bank's already had to move off that 3 per cent low that we saw earlier in the year and move back to what it regards to a more normal range for the cash rate for Australia."
Some economists are also expecting the Australian dollar to climb to $US1 this year. It would be the first time the local currency has hit parity since it floated almost 30 years ago.
Ms Toth says the dollar could spike above parity occasionally, but she expects it to spend most of this year valued at around 85 to 90 US cents.
------------------------------------------------------
For all those who considered Australia is a shit country.. pls read my lip.. YAHOOOOO !!
