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50/50 chance of another rate rise soon

03/09/2010

Strong corporate profits have raised the chances of another rate rise this year. There is now a 50/50 chance of a rate rise this year said economists, after official data showed company gross operating profits rose 18.9 per cent in the second quarter of 2010.

Commonwealth Bank senior economist Michael Workman said the Australian Bureau of Statistics (ABS) data boosted the chances of a lift in the cash rate from its current level of 4.5 per cent. "Most probably there's more than a 50 per cent chance of a rate rise later this year," he said.

Source: Sydney Morning Herald



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