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Australia Will Enjoy Low Interest Rates Much Longer But Economists Warn Of Problems Ahead

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The Reserve Bank of Australia (RBA) has set the July 2019 interest rate at 1%, a record low, and there are strong indications that level will not move up in years. Normally this is good news but economists are not entirely optimistic – they fear of possible rough times ahead.

According to ABC, the banking industry is estimating that the cash rate trajectory is going to be lower at least over the next three years or five years at most.

It’s quite obvious that the RBA is offering incentives for people and businesses to borrow money in the hopes of driving up economic........

© International Business Times