News
The market remains almost certain the Reserve Bank will act to cushion the impact of the coronavirus by cutting the cash rate to a record low 0.5 per cent.
News
As world share markets go into freefall as an ever-spreading coronavirus sparks fears of a potential global recession, the Reserve Bank of Australia could well cut interest rates this week to soften the impact.
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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.
The board of the Reserve Bank believe that their next interest rate move is likely to be a hike, though it may be some time to come.
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.
