RBA 'will cut again' on recession worry

Wednesday 04 March 2009

Article by Mozo

Although many first-home buyers may have felt a little disappointed by the Reserve Bank of Australia’s (RBA’s) decision not to make an interest rate cut this month, experts are forecasting that it may take another big chop at the base rate as early as next month.

The Daily Telegraph reports that the RBA board will likely be a little stunned by new figures showing that the country is hurtling towards a recession and will be giving some serious thought to making another interest rate cut early next month.

Such a strategy could be a welcome relief for those looking to compare home loans if the banks follow through with the cut and bring out a slew of new low-interest home loans.

"The April RBA board meeting is live," surmised bank savings account and home loan provider ANZ’s head of economics Warren Hogan.

The RBA’s decision to keep interest rates unchanged follows five months of consecutive attacks on the base rate.ADNFCR-1761-ID-19057546-ADNFCR

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