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AUSTRALIA'S CENTRAL BANK LIKELY TO LEAVE RATES ON HOLD IN DEC.
SYDNEY, Dec 1 Asia Pulse - The Reserve Bank of Australia (RBA) is likely to give mortgage holders an early Christmas present next week, when interest rates are expected to be kept on hold.
And economists are predicting the central bank will remain on the sidelines well into 2007.
All 15 economists surveyed by AAP are unanimous in forecasting no change to rates at next week's meeting, the last for 2006.
The RBA board will take a January summer holiday and will next sit in February, when rates will also likely remain on hold.
And all but one economist is predicting official rates to remain at a current 6.25 per cent through the second quarter of next year.
Mortgage holders have been hit hard by three rate hikes this year, the latest in November, as the RBA struggles to cope with high fruit and petrol prices driving up inflation.
However, AMP Capital Investors senior economist Bob Cunneen says rates are likely to remain on hold until mid next year as the central bank waits to see how prior hikes have filtered through the economy.
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Source: HighBeam Research, AUSTRALIA'S CENTRAL BANK LIKELY TO LEAVE RATES ON HOLD IN DEC.