Australia intends press Rate Rise Timing

Australia's Central Bank will decide tomorrow whether higher interest rates needed to avert inflation amid signs of the past decision that's cooling down nation's housing market. The RBA will raise the overnight cash rate target to about 4.75 from 4.5 per cent. As per the survey the BloomBerg conveyed, futures traders estimate a 64 percent chance of increase. The decision is scheduled for 2:30 PM in Sydney.