Another rate cut tipped for November

The Reserve Bank could cut official interest rates again in November said a senior economist.

Australia’s faltering economy needs another rate cut said senior economist at Domain Group, Dr Andrew Wilson.

“I still think there’s downward bias in interest rates,” said Wilson.

“We may even get an interest rate cut on Melbourne Cup Day,” said Wilson who pointed to the RBA’s habit of rate cuts on the first Tuesday in November.

Source: The Adviser