"However, Dr Joiner said the first rate rise probably will not occur until early 2017, and subsequent rises are likely to be slow and limited - he sees the new neutral cash rate as likely to be around 3.25 per cent, rather than the old 5-5.5 per cent.
That means that Dr Joiner is expecting only moderate home price falls of 5-10 per cent, not a crash, and no recession with unemployment remaining close to current levels just above 6 per cent."
