October rate rise now on the cards

Better than expected jobs figures released yesterday have raised the prospect of an interest rate rise being imposed by the Reserve bank sooner rather than later. Financial market futures trading yesterday indicated a 24 per cent chance of rate rise in October is expected, up from 7 per cent yesterday.

Many economists are tipping rate rises for either November or December. The Bureau of Statistics figures released yesterday showed an extra 30,000 jobs were added to the economy in August.

Source: Herald Sun