RBA may cut by 0.75 per cent

Increasing evidence of a recessionary trend in economic data is adding weight to expectations of a big cut in interest rates this afternoon by the Reserve Bank. The bank is expected to announce a cut of 0.5 per cent, but speculation is mounting that the central bank may increase the cut to 0.75 per cent after the biggest quarterly plunge in house price on record. Retail sales and job vacancy numbers are also well down.

Source: Financial Review