The Northern Territory news Wed 19 Mar 2014
The Northern Territory news; NewspaperNT
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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
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News Corp Australia
WEDNESDAY MARCH 19 2014 19 V1 - NTNE01Z01MA Things looking up so dont expect cuts THE Reserve Bank is more optimistic about the economy, meaning a likely end to its interest rate cuts. In the minutes of its March board meeting, the RBA reiterated its stance that the cash rate will stay at its current level of 2.5 per cent for some time. The board would continue to examine the data over the period ahead, with members noting that, if the economy was to evolve broadly as expected, then the most prudent course was likely to be a period of stability in interest rates, the RBA said. Mining investment is expected to decline sharply in 2014-15, but other sectors of the economy are showing signs of life, the bank said. Growth in household spending looked to have picked up slightly in the December quarter, although the pace of growth was expected to remain a little below average for a time, the RBA said. (The RBAs) liaison suggested that the stronger retail sales seen in the latter months of last year had continued into the early part of this year, though sales growth may have eased somewhat. Despite an unemployment rate of six per cent in January and February, the RBA is confident the labour market will also improve. It also again noted that the Australian dollar remained high by historical standards, although the RBA acknowledged its decline to current levels would assist in achieving balanced growth. Westpac chief economist Bill Evans, who recently altered his forecasts to no more cuts to the cash rate in the near future, agrees the economy is getting stronger. Westpac typically forecasts more rate cuts than other forecasters, and had been predicting a quarter of a percentage point reduction in August and another in November. The RBA board is pointing to gradual improvement in the economy, growth in 2015 being a little above trend; and inflation being contained, Mr Evans said. Commonwealth Bank economist Gareth Aird said the RBA had grown more comfortable with the economic outlook, with improved conditions across a range of indicators. Marking milestones can be very rewarding experience WINNING the Telstra Business Award was not only a boost for business but recognition of a journey, says Tim Lambert. The Top End Pest Control director won the overall 2013 Telstra Business Award in the Northern Territory as well as the Small Business Award category accolades that gave his business local recognition. You get respect from the business community, he said. From a business point of view, its an honour to be recognised. Mr Lambert and his wife Cory have been operating Top End Pest Control since moving to the Territory from Victoria, and taking ownership in 2004. He said the experience, which also saw him travel down south for the national finals, was valuable. We made good contacts and were able to get good feedback from the judges, who were all accomplished business people. It was good to be recognised. Mr Lambert said his business was thankful to be nominated for the awards. He had to put several hours into filling out his application but said it was worth it. Its a real personal journey, I went from one truck I bought off an old guide ready to retire to where we are now, he said. The process was a time for Mr Lambert and his wife Cory to reflect. What really made an impact was the feedback from people in Darwin. We didnt know how far reaching it was until people in the street stopped us and said wow, Mr Lambert said. He said he would encourage anyone who was considering entering or nominating someones business for the awards to give it a go. Nominations for the 2014 award are now open and entries close on March 31. The Telstra Business Awards have been running since 1992. Businesses can choose from five categories to enter including the Start-Up Award, Micro Business Award, Small Business Award, Medium Business Award and Regional Award. For more information regarding the awards simply visit telstrabusinessawards.com. By CLAYTON BENNETT Top End Pest Control director Tim Lambert is encouraging people to enter the Telstra Business Awards Picture: JUSTIN SANSON Sheds Patios Carports Workshops Barns Commercial Industrial Rural 5 REASONS WHY YOU SHOULD CALL US PHONE 8984 3044 DISPLAY CENTRE 56 Raphael Rd, Winnellie N.T. 0821 www.shedboss.com.au Design Certifcation Engineering Construction 100% satisfaction guarantee. Fixed price contract. No hidden extras. Fully-insured throughout the project. Polite and competent tradespeople. Locally owned and operated company.