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Page 84 - ஆஸ்திரேலிய விவேகமான ஒழுங்குமுறை அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

How did the Reserve Bank of Australia come to be? What is monetary policy?

Normal text size Very large text size It is Australia’s most important bank but it doesn’t have any customers. You can’t open an account with this bank, it’s unlikely you’ll ever meet the manager and it doesn’t even have ATMs. But the Reserve Bank of Australia is pivotal to the national economy. From house prices to wages, the Reserve (RBA) influences even the smallest financial transaction in the country. It does this through monetary policy – the interest rate set by the bank once a month that affects the cost of money. Anyone with a note or two in their wallet also has a reminder of the Reserve Bank’s other key function. The signature of the bank’s governor is on every note – it is the RBA that prints our colourful collection of currency.

The case for falling house prices next year

The case for falling house prices next year Save Share MLC’s chief economist, Bob Cunneen, is the first to offer an alternative story on the property market, tipping prices to fall 7 per cent next year as the world starts to push fixed interest costs higher. While property prices posted the fastest growth in 32 years in March, and most economists expect property prices to grow from 15 per cent to 20 per cent from the trough in October 2020 through to mid-2022, Cunneen says prices could fall. He says that while there will be growth this year of about 9 per cent, some of that is already fake.

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