Acting President of the Real Estate Institute of Australia (REIA) Pamela Bennett has called for a reduction to the country's interest rates in a bid to spur on the economy.
The industry expert argued the government needs to be pre-emptive in the current outlook for the Australian and international financial situation and take action against the issue.
Her comments were made after the latest Consumer Price Index figures revealed the Reserve Bank of Australia's (RBA's) consumer price measures of inflation are slowing.
During the September quarter, the analytical series of trimmed mean and weighted median both grew by 0.3 per cent, compared to 0.8 per cent in the previous three months.
"The latest figures are well within the RBA's target zone of two to three per cent and should provide a clear message to the RBA to reduce official interest rates next week", she said.
Earlier this month, the REIA reported an increase to the number of approved housing finance commitments in Australia, with a 1.6 per cent rise during August.
Posted by Ravin Chatlani
The industry expert argued the government needs to be pre-emptive in the current outlook for the Australian and international financial situation and take action against the issue.
Her comments were made after the latest Consumer Price Index figures revealed the Reserve Bank of Australia's (RBA's) consumer price measures of inflation are slowing.
During the September quarter, the analytical series of trimmed mean and weighted median both grew by 0.3 per cent, compared to 0.8 per cent in the previous three months.
"The latest figures are well within the RBA's target zone of two to three per cent and should provide a clear message to the RBA to reduce official interest rates next week", she said.
Earlier this month, the REIA reported an increase to the number of approved housing finance commitments in Australia, with a 1.6 per cent rise during August.
Posted by Ravin Chatlani
