everskim, two reasons why the RBA could raise rates:
local inflation continues to rise (power and water costs, carbon tax) and a tight labour market causes wages to rise - all if the mining boom continues; or
China crashes, our dollar tanks and inflation in imported goods takes off - RBA raise rates to prop up the dollar to prevent the carry trade unwinding too quickly.
I think the second is the more likely.
Property market is a minor consideration.
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everskim, two reasons why the RBA could raise rates:local...
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