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RBA to stay in limbo this year as lenders move to jack up rates

first_imgMore from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoAuctioneer Mark Frater at the auction of 71 Withington St, East Brisbane, which sold for $607,500 in March this year amid strong demand for inner city homes. Picture: Darren England.According to Mark Brimble of Griffith University, “broad economic indicators suggest the economy needs further support”. “The concerns re certain elements of the credit and housing markets is likely to keep the RBA on the bench.”Shane Garrett of the Housing Industry Association said there was “no particular advantage in changing rates one way or the other at this stage”, a sentiment shared by Noel Whittaker of QUT – “no reason to move either way” – and Clement Tisdell of UQ School of Economics – “no reason to change”.AMP Capital’s Shane Oliver said “worries about excessive home prices and debt growth prevent a cut, but low underlying inflation and wages growth prevent a hike and meanwhile growth is okay.”Michael Blythe of CBA said “low inflation says no need to raise rates. Hot housing markets says don’t cut rates”, while CommSec’s Savanth Sebastian said “there are doubts that rate cuts would actually do much in terms of driving the economy higher and lifting inflation”. According to home loan marketplace HashChing 95.6 per cent of more than 300 brokers surveyed also believed interest rates would stay on hold.But it warned that 91.25 per cent of brokers also believe that lenders would raise rates to follow recent increases by CBA and Westpac – even if RBA stays on hold.The RBA board is expected to release its decision at 2.30pm on Tuesday. Reserve Bank of Australia board will gather in Sydney Tuesday for its May monetary policy meeting, where experts believe they will agree to keep the cash rate target at 1.5 per cent. Picture: AAP Image/Dean LewinsTHE Reserve Bank board meets for its monthly monetary policy meeting Tuesday, but it’s lenders that will have the final say.RBA was expected to keep the official cash rate target on hold at 1.5 per cent – a view shared across the market with the ASX RBA Rate Indicator showing a 98 per cent expectation of no change to rates.Even the RBA cash rate survey by comparison site Finder.com.au had its 34 experts unanimous that RBA would sit on its hands, even though five of the last seven Mays have seen the RBA move on rates, according to Finder.com.au insights manager Graham Cooke.Over three quarters of the experts surveyed predicted the next official move would be up with four out of five of those believing it won’t happen until 2018.“The expectation across the board is that rates will rise in the next year, so locking in a low rate now could help you manage your repayments both now and into the future,” Mr Cooke said.last_img read more

IDHS: Dispose of Christmas trees properly, protect against fire

first_imgIndianapolis, In. — Indiana State Fire Marshal Jim Greeson, part of the Indiana Department of Homeland Security, is reminding Hoosiers to properly dispose of their live Christmas trees.The average life span of a Christmas tree is one month after purchase. Consumers should monitor a Christmas tree for freshness and note that when a tree’s needles drop, it means the tree is too dry. These dropped needles are more than just a nuisance to clean up, but rather are an indication that the dry tree is a fire hazard and should be removed from the home. Remove all decorations before disposing of the Christmas tree.According to the National Fire Prevention Association, roughly one of every 32 reported home fires that began with a Christmas tree resulted in a death, compared to an average of one death per 143 total reported home fires. Between 2011-2015, U.S. fire departments responded to an average 200 home fires per year that started with Christmas trees. These fires caused an average of six deaths, 16 injuries and $14.8 million in direct property damage annually.Many communities offer a disposal or pickup service for Christmas trees. Recycle Indiana has a statewide list of Solid Waste Management Programs, which can be found here. This service allows Indiana residents to locate waste management district and disposal options in their area. When traveling to dispose a tree, carefully secure the tree to the vehicle. Trees that have dried out will be very light, and branches can break easily during travel. Do not drop off artificial Christmas trees at real Christmas tree recycling events.If disposing of a Christmas tree at home, treat the tree as garden waste. Do not lean the tree against any structures and instead place it in a designated decomposition pile. Placing the tree in a garden or backyard can provide winter shelter for birds and other wildlife. Another option is chopping the tree for firewood for summer bonfires, or indoor use next winter when the wood is properly seasoned.For more information on holiday and fire safety look online here. Follow IDHS on Twitter @idhs and on Facebook here. A link to the Southeastern Indiana Recycling District is here.last_img read more

Europa wrap: Liverpool lose on penalties, Sevilla & Roma win

first_imgLiverpool’s Europa League campaign ended at the scene of one of their greatest European triumphs as they lost 5-4 on penalties to Besiktas in the Ataturk Stadium on Thursday on a woeful night for British clubs.Brendan Rodgers’s side were the highest profile casualties of the last 32, where holders Sevilla came through a testing encounter at Borussia Moenchengladbach, winning 3-2 on the night and 4-2 on aggregate.But in a sign that Italian teams may not be the dying force in Europe they are sometimes made out to be, AS Roma were joined in the last 16 by compatriots Inter Milan, Fiorentina, Torino and Napoli.Roma overcame crowd trouble and the temporary suspension of their match in Feyenoord to win 2-1 in a fiery atmosphere in Rotterdam and clinch a 3-2 success over the two legs.The only British representatives in the last 16, however, will be Everton, who saw off Young Boys 7-2 on aggregate, after Premier League Tottenham Hotspur were beaten 2-0 at Fiorentina and Celtic had their hopes ended in a 1-0 defeat by Inter.Turkish side Besiktas won their clash with Liverpool after Dejan Lovren missed the decisive penalty after the match ended 1-1 on aggregate following Besiktas’s 1-0 win on the night. Croatia centre back Lovren blasted his effort high and wide to spark wild celebrations at the ground whereLiverpool beat AC Milan on penalties 10 years ago to clinch a fifth European Cup.ATTACKING LINEUPThe Merseysiders were playing at the Ataturk Stadium for the second time since their stunning 2005 comeback victory against Milan but, with club captain Steven Gerrard injured, had no surviving members of that side on the field against Besiktas.They picked an attacking line-up but were second best most of the night and Tolgay Arslan’s crisp, curling effort after 72 minutes from the edge of the area levelled the aggregate score and took the game into extra time and eventually penalties.The first nine of both team’s spot kicks found their target, but Lovren stepped up, leant back and sent his effort high over the bar sparking raucous home celebrations. The statuesque Croat was perhaps an odd choice to take a penalty, but boss Rodgers defended the decision.”We were happy with the penalty takers and Dejan was confident. We’re obviously disappointed for him, because I felt in the game he played very well.”PLASTIC BANANARoma’s passage into the last 16 was fraught after French referee Clement Turpin took the players off for more than 10 minutes after the home fans threw objects onto the pitch, including a giant plastic banana.After Adem Ljajic gave Roma the lead and Elvis Manu had levelled for Feyenoord, who had Mitchell Te Vrede sent off which sparked the trouble, Gervinho netted the winner when he converted Vasilis Torosidis’s cross from he right. Three-time winners Sevilla were twice pegged back by their German hosts, who had goalscorer Granit Xhaka sent off, before Vitolo rounded off a counter attack in the 79th minute with his second goal to complete the victory.Inter edged Scottish champions Celtic 1-0 to go through 4-3 on aggregate after a high-scoring first leg was followed by a cagey return in Italy where Fredy Guarin got an 88th minute winner.Inter’s Serie A rivals Fiorentina beat Tottenham Hotspur 3-1 on aggregate with German striker Mario Gomez and on loan Chelsea player Mohamed Salah scoring in the second half.Two goals from Jose Rondon helped Zenit St Petersburg ease past PSV Eindhoven 3-0 in their second leg inRussia to complete a 4-0 aggregate success.Ajax Amsterdam, Villarreal, Dinamo Moscow, Dynamo Kiev, VfL Wolfsburg, Club Brugge and Dnipro Dnipropetrovsk also booked spots in the last 16 of Europe’s second tier competition which this season brings aChampions League spot for the winners.last_img read more