OECD recommends higher interest rates

Australians should brace themselves for official interest rate rises by the end of 2017, states the Organisation for Economic Co-operation and Development (OECD). The OECD warns that monetary tightening is expected to begin towards the end of next year, given the need to “unwind tensions” in the housing market caused by record low interest rates. "Monetary policy tightening is expected to commence towards the end of 2017 and this is appropriate given likely monetary policy developments elsewhere, the cyclical development of the [Australian] economy and the need to unwind tensions from the low-interest environment, notably in the housing market, which has in many places experienced rising


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