 |
MONEY MAN: Commonwealth Securities chief equities economist, media personality and economic guru Craig James was in Wagga yesterday to speak at the CPA Australia Wagga branch Christmas luncheon. Picture: Kieren L Tilly:
Photo:
|
|
| :: Advertisement :: |
|
No banner in farm
|
|
|
|
RIVERINA residents can do their bit to keep interest rates low, according to Commonwealth Securities (CommSec) chief equities economist and economic guru Craig James.
Mr James made the comments while in Wagga yesterday as guest speaker at the CPA Australia Wagga branch Christmas luncheon at the Wagga Commercial Club.
“In the current environment people should shop around,” Mr James said.
“We know the cost of fuel, goods and interest rates are going up, so it’s a case of getting more bang for your buck.
“Retailers aren’t passing on savings from the strong Australian dollar so people should shop around, get the best deal and help keep prices and inflation low.”
Mr James said the future for Australian interest rate movements would be affected by a plan announced by US president George W Bush to stem US home foreclosures.
“The US has announced a band-aid solution,” he said.
“It’s not a real solution but it will buy more time and it’s provided reassurances for investors and that’s the main thing.
“We have got an interest rate rise pencilled in for February and there is a risk of further hikes.
“If Australian interest rates don’t go up, it will be because of the US market.”
This visit is the fifth successive year Mr James has attended the function as he “always enjoys coming down”.
“It’s good for CommSec to come to the region so I can see what’s going on at the coalface, to see how the regional economy is performing.”
“Centres like Wagga, Dubbo and Albury give a good sense of how rural and regional Australia are performing.”
Mr James said he would be happy to attend next year’s function if he was invited.
|
