Australia. Guide to Australia

‘Bank’

Real Estate in Australia, property prices in Australia 2013 year to grow by 10%, this forecast the real estate market of Australia's leading economists are predicting the country.

Economists say the cause of the price spikes of the real estate market in Australia will be a record-low interest rates on loans and the lack of vacant housing.
Since the Reserve Bank of Australia cut interest rates by 1,75% from November 2011 , and according to the experts is going to reduce it to 2,75% by March 2013 year.

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The announcement of the us credit rating downgrade caused a situation on the Australian stock exchange, close to panic. Quotes fell immediately by four percent, which was the worst performance since the middle 2008 year, when the height of the global financial crisis was noted. Besides, many Australians began to think about, to withdraw your retirement savings from those schemes, That «Tied» to stock market quotes.

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In Australia 1966 adopted a decimal monetary system. Australian dollar issued by the Reserve Bank of Australia, which regulates the rates, oversees the financial system.

In recent years, regulation of the banking sector is gradually weakened. For example, with 1983 foreign banks were allowed to conduct operations in Australia, and gradually reduced or erased the fundamental differences between different types of banks and between banks and other financial institutions, such as life insurance companies, construction companies and pension funds.

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