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The Australian Securities and Investments Commission (ASIC) has given permission for an Australian online gambling company to once again offer odds on whether the nation's Reserve Bank will raise interest rates or not. Centrebet's book on interest rates was stopped in its tracks by ASIC last April on concerns it was providing a financial service without holding a licence, with the Commission threatening to shut down the company.
This week Centrebet spokesman Neil Evans reported that the issue has been resolved, and that 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," Evans said.
"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."
Source: InfoPowa News