What Does Bill Evans, chief economist of Westpac say about Reserve Banks decision to hold interest rates?
- Reserve bank has decided to hold interest rates as they believe GFC is now past and the Australian Economy is on an average level.However, not for construction, manufacturing and retail – mining is holding up the fort!
- Unemployment rate is increasing (4.8% – 5.2% and estimated to go to 5.3%)
- Consumer sentiment not great
- A$1.08 – Bill Evans forecasts parity in next 6 months