Homeowners could get a reprieve from the soaring cost of living with interest rates predicted to fall before the end of the year as consumer confidence and spending falter.

Westpac yesterday forecast a 1 per cent fall in interest rate before the end of next year, starting with a 25 basis point cut in December.

Interest rates now forecast to slide

“The Advertiser – July 16th 2011″

$10b coal mine plan moves ahead

Chrissy Arthur, ABC On Thursday 10 February 2011, 14:00

Another massive coal mine in Queensland’s central west has taken a step forward, with the release of draft terms of reference for an environmental impact study (EIS).

Adani Mining is proposing the $10 billion Carmichael Coal and Rail project in the Galilee Basin.

The State Government says the draft terms of reference outline the scope for the EIS.

The proposed mine is mostly on a cattle property north-west of Clermont and involves the development of both a greenfield open-cut coal mine, as well an underground mine.

The Minister for Infrastructure and Planning, Stirling Hinchcliffe, says if it proceeds the mine could potentially produce up to 60 million tonnes of coal a year, mostly for the Indian domestic power market.

He says the construction phase could employ up to 5,000 workers, with the ongoing operation to support 4,000 jobs.