RBA bosses to face House committee

(SMH) Homeowners shouldn't hold their breath for a definitive answer on the timing of interest rate rises when Reserve Bank of Australia (RBA) officials face a parliamentary committee this week. RBA governor Glenn Stevens and his team will undergo their six-monthly grilling from the House of Representatives economics standing committee on Friday in Canberra. He is likely to be pounded by a barrage of questions on the official cash rate, mortgage rates, Greece's debt problem and an idea floated by the International Monetary Fund (IMF) that central banks should consider raising their inflation targets. read more