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Will the Reserve Bank of Australia cut interests rate by a further 50 basis points?

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Will the Reserve Bank of Australia cut interests rate by a further 50 basis points?

 

On top of this weeks 50 basis points cut in the cash interest rate to 3.75% by the Reserve Bank of Australia, Westpac is predicting that the Reserve Bank will again cut interest rates by a further 50 basis points by the end of this year. This should be very welcomed news to the many Australian's currently suffering from the pressure of increased mortgage stress.

 

It still stands to be seen however whether the four main Australian Banks (Westpac, National Australian Bank, ANZ and the Commonwealth Bank) will pass on this weeks full 50 basis points reduction to their customers.


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Please note that this posting is of a general nature only. It does not constitute legal or migration advice and may not apply to your particular circumstances.

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