Bloomberg is out with the key comments by the largest Australian fund manager AMP Chief Economist Shane Oliver on the RBA”s interest rate outlook.
Key Points:
Sydney and Melbourne prices will drop a further 10% in 2019
Peak-to-trough fall 20%
A “perfect storm” smacks housing
Reserve Bank of Australia will cut interest rates in the second half of 2019, from 1.5% now to 1% by end 2019.
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