Cup Day Rate Cut on The Cards

31/10/2011
Post to Facebook Post to Twitter Post to MySpace post to StumbleUpon post to Google Buzz Share with Friend

Melbourne Cup day could be a lucky one for borrowers, as expectations grow the Reserve Bank will cut interest rates.

Most economists are tipping the RBA will lower the cash rate from 4.75% to 4.5% at its monthly board meeting tomorrow.
 

An interesting fact, the RBA has not left the interest rate on hold for the past 5 Melbourne Cup days with a shock rise on race day last year.

The September inflation numbers and the minutes from the RBA's last meeting show they expect the economy to slow and inflation to ease.

Photo:Getty/Getty Images News/
­

Leave a Comment

You Must be Logged in to add a comment. Or Register Here

If you want to embed a youtube video, you can just write [youtube]videoid[/youtube]