- Among surveyed analysts it is expected that the RBA will cut rates by 25bps to an historic low of 3% after a string of weak Australian data; poor building approvals, a larger budget deficit and the Australian government recently lowering it’s estimate for capital expenditure for 2012/13. Signs are showing that the Australian economy is starting to suffer as the mining boom continues to wane.
- This is the RBA last rate decision until February, so there may be particular emphasis on today’s decision and special attention will be paid to the accompanying statement for any signals that indicate further action from the reserve bank.
Print 02:32 - Asian News - Source: RANsquawk
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