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The Reserve Bank of Australia (RBA) left interest rates on hold today at 7.25 percent, but inflation is a major concern for the central bank and a rate rise next month remains possible, analysts said.
The decision had been widely expected but attention will now turn to the July 23 release of the latest inflation data (the Consumer Price Index, or CPI) from the Australian Bureau of Statistics. A private measure of inflation issued yesterday showed inflation is running at 4.8 percent annually — the highest level in five years.
While the main causes for the rise in inflation are petrol and rents (up 25 percent and 14 percent respectively) other factors are also playing a major role.
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How do you stop yourself from paying over the odds when you are trying to buy your dream home at auction, asks Money reader Miranda.
"I recently came into an inheritance and want to use the money as a deposit to set myself up in a home I love, but everything I like goes to auction and I know nothing about auctions," Miranda writes.
Well Miranda, it’s time to educate yourself about the auction system. And the best way to do that is to actually attend as many auctions as possible to familiarise yourself with the process.
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