17th of May 2011 Author: Johnny Karp
Stock exchange authorities give green light
According to this week's reports, an Australian online gambling company Centrebet received a permission from the Australian Securities and Investments Commission (ASIC) to restart offering odds on whether the nation's Reserve Bank will raise interest rates or not.
Previously, the company saw its book on interest rates terminated by the same commission due to assessments that it was providing a financial service without holding a license. On that occasion, the Commission even threatened to shut down the company.
However, according to Centrebet spokesman Neil Evans, the issue has been resolved, and bets on interest rates have now been cleared by the regulator: "We let it lie for a little while, but we decided that now is a very good time to do it, coming to the end of the financial year," he said, adding: "There hasn't been a rate rise this year, so there is a lot of debate as to whether a rate rise is coming or whether the Reserve will hold them where they are through to July.
'We are getting along fine with the regulator at the moment, so we are quite happy to be betting on interest rates.'
"We will leave things like index lines and even unemployment figures, which whilst they may be popular, are sensitive markets."
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