RBA may move on rates today

The Reserve Bank may raise interest rates today, its second-last chance to do so before the end of the year. New retail spending figures from the Australian Bureau of Statistics as well as strong job vacancies recorded by the ANZ will add to the pressure for the RBA to move on rates. Retail sales rose 0.6 per cent in October while ads for jobs increased by 1.4 per cent to an 11-month peak. A Dun & Bradstreet survey also indicated that business investment intentions for 2004 are rising.

Read Infochoice's RateWatch for a detailed interest rate forecast.