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Interest rate cut - how much?
Taking into consideration the current economic situation in Australia most economists agree that there is no question about whether or not official interest rates will be cut in near future. Merely the question should be: how much will rates be cut by the RBA - 25 or 50 basis points? The RBA is likely to start with a 0.5 percentage point cut like it did in previous years. Both interest rate cut programs in 2001 and 1996 started with a 0.5 percentage point cut. It would bring the official rate down from its 12-year peak of 7.25 per cent to 6.75 per cent.
Another question however is - will the private banks follow the RBA and pass on official rate cuts to their customers?
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