Australia’s house prices drop as central bank tipped to raise interest rates again

The Reserve Bank of Australia is once again tipped to raise interest rates when it meets tomorrow. Market watchers are wagering another half a percent increase, which would send shudders through the real estate industry already on the slide. But it’s not all doom and gloom. Australian resources are enjoying a bumper year with soaring coal and mineral exports, as well as agriculture, earning billions from higher international prices caused by the war in Ukraine. In June, the boom in commodities drove Australia’s trade surplus to a record $17.7 billion.

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