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AUSTRALIA'S CENTRAL BANK TIPPED TO CUT RATES AGAIN IN MARCH.
SYDNEY, Mar 2 Asia Pulse - The central bank is tipped to cut interest rates to a record low level in March, as the effects of the global downturn threaten to really hit the domestic economy.
Thirteen of 16 economists surveyed by AAP expect the Reserve Bank of Australia (RBA) to cut the cash rate when it holds its monthly board meeting on March 3.
The median forecast was for a 50 basis point rate cut, which would take the cash interest rates to a record low of 2.75 per cent when the RBA announces its decision at 1430 AEDT on Tuesday.
The RBA has already slashed interest rates by 400 basis points since September.
Interest rates fell to a 45-year low of 3.25 per cent in February following a 100 basis point rate cut.
A 50 basis point cut this week will send the cash rate under the all time low monthly average rate of 2.89 per cent seen in January 1960.
While domestic business data is still strong, many economists say deteriorating conditions among Australia's key trading partners will weigh on the domestic economy in future months.
- RBA TO CUT RATES BY 25 BASIS POINTS NEXT WEEK, ECONOMISTS SAY.
- News wire article from: AsiaPulse News August 29, 2008 700+ words
...possibility of a 50 basis point rate cut next week. But she said the RBA could not afford...economy would force the RBA's hand to a 25 basis point cut. "We think...cautious note with a 25 basis point cut, he said the RBA will soon realise...
- RBA WILL CUT CASH RATE TO 1960S LEVELS ON TUES: AUST ECONOMISTS.
- News wire article from: AsiaPulse News January 30, 2009 700+ words
...points, following the RBA's February 3 board...banks match a 100 basis point move, home borrowers...Tharenou said the RBA would slash interest...starting with a 75 basis point cut next week...is betting on a 75 basis point cut, said fears...have given way to RBA ...
- ANALYSIS - AUST INFLATION DATA SET TO PROMPT RBA'S RATE MOVE ON NOV 3.
- News wire article from: AsiaPulse News October 23, 2009 700+ words
...fully priced a 25 basis point rise in the cash...per cent after the RBA raised the rate from...will lock in a 25 basis point move and heighten discussion that the RBA would lift the cash...possibility that the RBA would be able to...December after a 25 basis ...
- ANALYSIS - AUSTRALIA'S Q3 CPI SUPPORTS CASE FOR RBA RATE HIKES.
- News wire article from: AsiaPulse News October 28, 2009 700+ words
...said he favoured a 25 basis point move after the RBA board meets next Tuesday...triggered second thoughts by RBA Board members for next...thinking about a 50 basis point move. "This inflation...will not rock the RBA's boat." (AAP...
- DEMAND SLOWING BUT AUSTRALIA'S INFLATION STILL A WORRY, RBA SAYS.
- News wire article from: AsiaPulse News June 17, 2008 700+ words
...Riki Polygenis said the latest RBA board minutes indicated the...evolving," she said. "The RBA noted that retail sales, credit...pressures. Another two, 25-basis point rate rises would take the cash...high of 7.75 per cent. The RBA minutes said a rise in Australia...
- RBA SET TO KEEP AUST RATES STABLE NEXT WK, RATE HIKE SEEN BY END 2009.
- News wire article from: AsiaPulse News October 2, 2009 700+ words
...matter of when and not if." RBA governor Glenn Stevens told...year and April this year, the RBA cut the cash rate by 4.25...hike in November and another 25 basis point lift in December. Economists at JPMorgan and RBS predict the RBA will lift interest rates by...
- RBA SAYS "IMPRUDENT" TO KEEP AUSTRALIAN RATES LOW.
- News wire article from: AsiaPulse News October 20, 2009 700+ words
...Reserve Bank of Australia (RBA) board felt it was...it's a 25- or 50-basis-point increase, economists...to his call that the RBA would keep the cash rate...who now expects a 25-basis-point increase next month...outsized" increase, the RBA could well raise the...
- Fed: Pollies to press RBA on timing of rate rise
- Newspaper article from: AAP General News (Australia) August 12, 2009 700+ words
...Reserve Bank of Australia (RBA) officials are grilled by federal...the six-monthly hearing of RBA chief Glenn Stevens and his...the latest form guide - the RBA's quarterly monetary policy...are betting on at least a 25-basis-point increase in the official cash...
