RBA tipped to provide a pre-Christmas interest rate cut: The News Wrap

THE NEWS WRAP: RBA tipped to provide a pre-Christmas interest rate cut

By Oliver Milman
Tuesday, 04 December 2012

The Reserve Bank of Australia has been widely tipped by economists to provide a pre-Christmas interest rate cut today, amid continued concerns about the strength of the economy.


A survey of 15 economists by AAP found that most expect the RBA to trim rates by 0.25% today, following its decision to freeze the cash rate at 3.25% in November.


Retail sales flat in October


Retail sales were flat in October, despite an interest rate cut that month, with new figures showing turnover was steady at $21.6 billion.


The Australian Bureau of Statistics said that the October flat line followed rising sales in August and September, with annual growth now standing at 3.1%.


The numbers are disappointing, as economists had been predicting a 0.4% lift in sales during the month.


ACCC to get ‘aggressive’ on competition enforcement


The Australian Competition and Consumer Commission is going to be far more “aggressive” towards businesses that stifle competition, according to a new report.


The watchdog’s chairman Rob Sims has told The Australian Financial Review that cartels, misuse of market power and business contracts are in the ACCC’s sights.


“The number of times the ACCC takes people to court for competition cases is about to increase quite significantly,” Sims says.




The Dow Jones industrial average was down 0.46% to 12,965.60. The Australian dollar slipped to 104.18 US cents.

Did you like this article? 

Sign up to the StartupSmart Newsletter to receive a daily news wrap-up straight to your inbox AND a free eBook!

Invalid Input

Comments (0)

Subscribe to this comment's feed

Write comment

smaller | bigger

Invalid Input
SmartCompany Smart Reads
  • VIDEO: Understanding the ARM processors in your smartphone or tablet
  • Apple boosts Indian smartphone marketshare to 9%, still lags behind BlackBerry
  • Microsoft working to unify Windows Phone to its desktop PC counterpart
  • Claims and counterclaims about Apple iTV launch in March and iWatch
  • Customer satisfaction survey: Samsung and Apple trail smartphone competitors in both the UK and US

Follow us

StartupSmart on Twitter StartupSmart on Facebook StartupSmart on LinkedIn StartupSmart on Google+

Subscribe to StartupSmart RSS feeds

Sponsored Links

Our Partners

SmartSolo sign up

Private Media Publications



Smart Company


Property Observer


Leading Company


Womens Agenda