Governor Glenn Stevens of Reserve Bank of Australia is advised to inform a rate rise halt when he speaks later this Wednesday at Castle Hill, in the heart of north-western Sydney's mortgage belt.

Interest rates went for a halt in June for the first time in four months, although financial economists predicted several more increases this year.

However, AMP Capital Investor chief economist Shane Oliver said the chief of RBA is expected to show some mercy.

“A speech by RBA governor Glenn Stevens is likely to confirm that while the bank still retains a tightening bias interest rates are likely to remain on hold for a while,” Dr. Oliver said.

Economists have predicted that figures for lending will drop at two per cent, following a 3.4 per cent decrease in March, due to a series of interest rates rises.

The interest rate increases that started since October, has also weakened consumer confidence.

Consumer confidence barometer by the Westpac-Melbourne Institute showed that it slid down to seven per cent in May and is expected to fall again by June as customers continue to respond to the fallback of the global share markets.

Australia's job growth, however, slightly improved at 5.4 per cent. More than 20,000 jobs were created because of newspaper and Internet job advertisements from ANZ (Australian and New Zealand).

Treasurer Wayne Swan, who attended a G20 meeting with finance leaders and bankers in South Korea, has noted that the global financial market is still at risk due to the European debt crisis.

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