News
Australia’s economy may have reached a “gentle turning point” on the back of lower interest rates and recent tax cuts, Reserve Bank of Australia Governor Philip Lowe says.
Opinion
The Reserve Bank cut interest rates – and may do so again within months – because nervous Australians aren’t getting pay rises, and aren’t spending enough to turn around dismal economic figures, says Peter Martin.
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Most economists expect the Reserve Bank to cut the cash rate to a fresh record low after its board meets tomorrow.
A combination of soft commodity prices and weakr US growth is likely to weigh on the Australian economy for the rest of 2016.
Consumer confidence has rebounded strongly following the Reserve Bank’s rate cut.
ANZ has joined the other three big banks in dropping home loan interest rates following the Reserve Bank’s official interest rate cut. But, unlike the NAB, CBA and Westpac, it won’t pass on in full the RBA’s 25 basis point reduction.
