Experts Backing RBA to Slash Rates

Experts backing RBA to slash rates

An avalanche of expert opinion is tipping the Reserve Bank of Australia to slash interest rates at its meeting next week.The results of a new Finder survey found 91 per cent of the 34 economists and experts canvassed believed the central bank will authorise a 25-basis-point cut which would bring the official cash rate down to 3.60 per cent.If banks pass this on in full, a homeowner with a $500,000 mortgage will save $2884 per year compared wit…

RBA Expected to Cut Cash Rate

Commonwealth Bank senior economist Belinda Allen anticipates the Reserve Bank of Australia (RBA) will reduce the cash rate by 25 basis points to 3.60 per cent next Tuesday. Allen describes the decision as “straightforward” due to recent data confirming inflation is decreasing as forecast. Commonwealth Bank is a multinational bank providing various financial services, including retail, business and institutional banking, funds management, superan…

Bank rate cut brings cash alternatives into spotlight: How big cash savers can protect returns as rates fall