SYDNEY, Australia (AP) - The governor of Australia's central bank gave a strong hint Friday that the bank will soon raise interest rates for the first time since December 2003 even though the nation's housing boom has been largely subsiding.
"It's more likely that interest rates will go up than they will go the other way - in fact we look around the world and see that this is happening in other countries as well,'' Reserve Bank of Australia Governor Ian Macfarlane told a federal parliamentary committee in Sydney.