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RESERVE BANK OF AUSTRALIA EXPECTED TO CUT RATES TUESDAY.
MELBOURNE, Oct 1 Asia Pulse - Financial markets will focus this week on the size of a much-anticipated cut in interest rates this week as investors continue to grapple with what the US terrorist attacks mean for the global economy.
Most economists believe the Reserve Bank of Australia will cut rates when it meets on Tuesday; the question is whether it is by 25 or 50 basis points.
Interest rates currently stand at 4.75 per cent, their lowest level in three years.
A major decider could be the size of a cut by the US Federal Reserve, which is expected to drop rates there by a further half a percentage point at its meeting on Tuesday.
The US outcome will be known just hours before the traditional RBA announcement on Wednesday morning.
In the wake of the strikes on New York and Washington on September 11, the RBA was the only major central bank not to follow suit when the Federal Reserve eased rates by 50 basis points on September 17 in an effort to stimulate markets.
Another consideration may be the timing of the looming Federal election, with the RBA unlikely to tinker with rates during the campaign.
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