CBA joins calls for an October rate rise

September 23, 2010 § Leave a comment

 

The nation’s largest home lender has joined a growing number of banks in shifting expectations for an interest rate rise to October.

But the Commonwealth Bank‘s chief economist Michael Blythe does not expect the Reserve Bank will lift the cash rate in three consecutive monthly moves that characterised its first two stages in winding back monetary policy from the “emergency” rate three per cent.

“The timing of a subsequent move will depend on the reaction to the October rise and the subsequent flow of data,” Mr Blythe said on Thursday announcing his bank’s changed rate call.

But he does expect the cash rate will eventually peak at six per cent following further rate increase through 2011.

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DFO to be broken up and sold: report

August 23, 2010 § Leave a comment

Debt-ridden Direct Factory Outlet (DFO) will reportedly be broken up and sold store by store, with the proceeds expected to go towards servicing its $1 billion bank debt.

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