Fed: Home loan figures expected to show loans continue to rise
Home loan figures due today are expected to show the property market continuing toflourish, with loans tipped to rise a further 3.5 per cent.
Hopes of an interest rate cut were revived yesterday after a collapse in part-timework sent employment diving in July for the fifth time in six months.
The Aussie dollar lost more than 0.2 US cents on the release of the figures, whichwere driven by a plunge in female part-time work.
The jobs weakness contrasts with other evidence of a strong local economy fuellingretail sales, imports and demand for housing.
But some economists warn the figures might be a sign the economy is stalling.
Commonwealth Bank chief economist MICHAEL BLYTHE says it's premature to rule out arate cut, although the indications are that the drop in jobs will not last long.
AAP RTV rmg/psm/
KEYWORD: ECONOMY (CANBERRA)
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