The Reserve Bank of Australia (RBA) is currently heading up a shortlist of central banks across the world that could lead the way on raising key interest rates to pre-recession levels.
Australia’s economy and housing markets have recently shown stronger than expected signs of recovery and there are increasing expectations that further growth lies ahead.
The RBA has been tipped by investors to be potentially the first group of 20 central banks to increase its key interest rates as early as December, The Australian reported.
Though central banks around the world moved together to cut borrowing costs and provide other forms of stimulus in the final months of last year, they are unlikely to be as synchronised when they decide to start tightening monetary policy.
More than anything, this reflects the degrees to which the downturn exposed and exacerbated their different underlying weaknesses.
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