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House price rises ‘considerably smaller’ here: RBA – The Australian Financial Review
The RBA says the increase in housing prices in Australia this year had been “considerably smaller” than in a number of other advanced economies.
The bank noted that yields on long-term government bonds in the advanced economies had risen a little in response to the positive news on COVID-19 vaccines.
Moves by foreign central banks can have significant influence on the RBA’s policy decisions.
However in a change that could spell the need for further monetary policy expansion, the RBA noted an appreciation of the Australian dollar and a depreciation of the US dollar.
“The US dollar had depreciated during November in response to the improved…
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