Autumn 2012

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News Around Town

Will we see the P.I.G.S. flying anytime time soon?

Portugal, Italy, Greece and Spain, that is…

We’re all getting a little tired of hearing about Europe meets to decide this; Europe can’t reach agreement…but is what is happening in Europe really impacting on us in Oz that much?

There are also no doubt the funding costs inside Banks are real and that their margins have been squeezed. Although the RBA has decided to hold rates as they are for the time being, the Banks have moved independently and lifted interest rates.

THE job market remains soft and large companies including Banks are advising of job losses in the next 12 months, 2 and 3 year period.

Be that as it is, economists are still predicting a positive 2%+ growth in 2012 moving to increased growth beyond this year.

We still feel that there is one interest rate cut announced before June from the RBA, but that may be the only one for the year. We feel that there will
be little movement in official interest rates during 2012. What may be needed however is an announcement from the Government on further Investment Allowance subsidies to encourage businesses to reinvest. They should also abandon the current obsession of having the budget back in surplus so quickly and release a series of stimulus packages designed to assist small to medium business and encourage job retention and growth.

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