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Rates will drop further as a result of the fading mining boom, according to AMP chief economist, Shane Oliver.
With mining investment appearing to be heading towards its peak in 2013, discussion of further interest rate drops is on the cards, Mr Oliver pointed to in his latest Oliver’s Insight newsletter.
“For the first time in years the June quarter survey of mining investment intentions did not show an upgrade in plans for the current financial year and projects under consideration have peaked. Falling mining sector profits suggests mining projects remain at risk,” he said. Read More