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Next rate cut due in December says Westpac

23/08/2012

Westpac chief economist Bill Evans says the Reserve Bank of Australia is in “wait and see” mode.

“Westpac anticipates that more robust growth outcomes for 2013 will require further interest rate relief,” Mr Evans said. The unemployment rate was set to rise, inflation was contained, the Australian dollar remained strong and the world economy was likely to remain quite threatening, he added.

“However, it will clearly take time to convince the board of our view,” Mr Evans said, who doesn't expect another cut in the cash rate until the 2012 December quarter.

Source: Sydney Morning Herald



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