{"id":51624,"date":"2006-05-19T14:31:29","date_gmt":"2006-05-19T04:31:29","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2006\/05\/19\/iron-ore-price-increase-supports-case-for-higher-interest-rates\/"},"modified":"2006-05-19T14:31:29","modified_gmt":"2006-05-19T04:31:29","slug":"iron-ore-price-increase-supports-case-for-higher-interest-rates","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2006\/05\/19\/iron-ore-price-increase-supports-case-for-higher-interest-rates\/","title":{"rendered":"Iron Ore Price Increase Supports Case For Higher Interest Rates"},"content":{"rendered":"<p>By Rudi Filapek-Vandyck<\/p>\n<p>Commonwealth Bank economist Joseph Capurso notes today that when the Reserve Bank of Australia recently increased interest rates the bank cited strong increases in commodity prices as a major factor in that decision given these increases boost incomes and spending.<\/p>\n<p>The latest Statement on Monetary Policy, published by the RBA last week, reveals that the Reserve Bank had taken a 10% increase in\u00a0iron ore prices for the coming year into account.<\/p>\n<p>In light of recent developments, with both Companhia do Vale Rio Doce (CVRD) and Rio Tinto (RIO) achieving price increases for iron ore fines of 19%, almost double what the RBA was expecting, and a federal budget which is widely seen as providing a further stimulus to Australian wallets (and thus spending), Capurso now suggests the case for another rate rise in Australia is further increasing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent iron ore price contracts concluded by CVRD and Rio Tinto increase the case for another RBA rate hike, suggests Commonwealth Bank economist Capurso.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51624"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=51624"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51624\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=51624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=51624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=51624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}